Devin Nunes used to have a job in Congress compromising himself and any shred of dignity he might have had left lying for a twice-impeached ex-president who lost the popular vote twice. His job is exactly the same now, except he works for that ex-president instead of pretending to work for the people in the House of Representatives.
— NC StockGuy (@NCStockGuy) February 7, 2022
Nunes announced in January that the launch of Donald Trump’s new social media company, set to be named TruthSocial if it ever gets past the development stage, was being delayed. Instead of the planned Feb. 21 launch, the date was pushed back to March 31 as the company continues to go through beta testing. The shall company investors have put their money into to invest in Trump’s new venture, Digital World Acquisitions Corp., saw some of that money disappear on Monday as the new company opened on the floor of the stock market.
According to CNBC:
”The company, Digital World Acquisition Corp., opened trading Monday at $87.02 per share, and spiked to as high as $97.15 earlier Monday. But the stock price began plunging around 3:30 p.m. ET, and fell to as low as $80.45 per share. DWAC closed the trading day at $83.88 per share.’
New: Federal regulators are investigating Trump SPAC deal. In a filing, Digital World Acquisition Corp, the shell company that facilitated the deal, says it received a request from SEC seeking documents & communications between Digital World & Trump Media and Technology Group.
— Jim Sciutto (@jimsciutto) December 6, 2021
Trump, who seems lost without his Twitter account and the country’s largest available platform, The White House, vowed to start the new company so that he can say whatever he likes, even if what he wants to say leads to an attack on the United States government and puts him in the crosshairs of a congressional investigative committee.
‘Trump has said Truth Social will be a competitor to social media giants like Twitter and Facebook, both of which banned him last year for having posted statements that incited the deadly Jan. 6 Capitol riot, when the former president’s supporters stormed the building and disrupted lawmakers’ confirmation of Joe Biden’s electoral college victory.’
Federal regulators are investigating a planned merger between Donald Trump's social media startup and the shell company Digital World Acquisition Corp.https://t.co/KhM0Z2e0M3
— NPR (@NPR) December 6, 2021
Trump has touted the new company as a place where the beleaguered, those “silenced” by social media for saying racist, sexist, and homophobic things, or things that misinform the public on serious health issues, or speech meant to cause harm and violence, could go to speak freely. Trump complained about having been silenced as he announced the new company at a speaking event in front of an audience with numerous cameras pointed at him.
‘We live in a world where the Taliban has a huge presence on Twitter, yet your favorite American president has been silenced.’
An asset manager who claims he was “instrumental” in landing Trump’s planned media company for the Digital World Acquisition SPAC claims he was cheated out of shares https://t.co/H1yegf5uxT
— Bloomberg (@business) December 16, 2021