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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsHow Much Money Has Marjorie Taylor Greene Lost on Trump's Social Media Company?
This makes me smile
Link to tweet
https://www.motherjones.com/politics/2022/09/marjorie-taylor-greene-dwac-truth-social-stock-trump/
Thats a big problem because, according to DWACs own internal corporate rules, it has to complete a merger by Sept. 8 of this yearThursdayor else put itself out of business and refund investors $10 per share. DWACs founders organized a special shareholder meeting for Tuesday this week, at which they asked all shareholders to vote in favor of extending the deadline another year. However, early on Tuesday, even before the meeting started, Reuters reported that company insiders were saying they didnt think they would get approval. The stock, already substantially down from its high points, went spiraling......
We do know, however, that Greenethe bombastic congresswoman from Georgiawill take a big hit if DWAC is liquidated. Greene and Indiana GOP Rep. Larry Buchson both purchased DWAC shares last fall. Buchson purchased a handful, but Greene bought quite a fewand at close to the highpoint. According to a periodic transaction report filed by Greene, she bought between $15,001 and $50,000 worth of DWAC stock on Oct. 22, 2021. Congressional stock tracking website CapitolTrades.com reports she bought her shares for $94.20 (which was the stocks closing price that day), which would imply that Greene owns anywhere from 159.2 shares to 530 shares.
If its the latter, based on how low DWACs stock was trading on Wednesday afternoon, $50,000 worth of shares Greene bought last year would now be worth as little as $12,000. And if DWAC were to dissolve itself and pay investors just $10 a share, her loss could be as high as $44,700. Even if Greene had purchased the minimum amount possible within the range she reported, her shares today would be worth less than $3,700a loss of more than $11,000.
We do know, however, that Greenethe bombastic congresswoman from Georgiawill take a big hit if DWAC is liquidated. Greene and Indiana GOP Rep. Larry Buchson both purchased DWAC shares last fall. Buchson purchased a handful, but Greene bought quite a fewand at close to the highpoint. According to a periodic transaction report filed by Greene, she bought between $15,001 and $50,000 worth of DWAC stock on Oct. 22, 2021. Congressional stock tracking website CapitolTrades.com reports she bought her shares for $94.20 (which was the stocks closing price that day), which would imply that Greene owns anywhere from 159.2 shares to 530 shares.
If its the latter, based on how low DWACs stock was trading on Wednesday afternoon, $50,000 worth of shares Greene bought last year would now be worth as little as $12,000. And if DWAC were to dissolve itself and pay investors just $10 a share, her loss could be as high as $44,700. Even if Greene had purchased the minimum amount possible within the range she reported, her shares today would be worth less than $3,700a loss of more than $11,000.
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How Much Money Has Marjorie Taylor Greene Lost on Trump's Social Media Company? (Original Post)
LetMyPeopleVote
Sep 2022
OP
Marcus IM
(2,188 posts)1. It's peanuts to her. A hateful investment. n/t
Norbert
(6,039 posts)2. Proof that blind loyalty will cost you
Especially when any amount of common sense will have one seeing red flags.
Remind me never to sign three-toes as my financial advisor.
Maeve
(42,279 posts)3. Not enough. "All" would be enough eom
getagrip_already
(14,708 posts)4. it's probably all campaign funds anyway.... n/t
Walleye
(31,008 posts)5. She could be trying to find her way onto a Trump presidential ticket
Sounds a little like money laundering
brush
(53,764 posts)6. Taylor Greene continues to show how dumb she its. I mean who...
invests money in any venture involving trump? The man's track record in business is abominable. Ya might as well throw the cash away.
2naSalit
(86,533 posts)7. Too bad it isn't enpugh to break her.
Baitball Blogger
(46,699 posts)8. Big deal. She made much more than that in forgiven ppl loans.