Trump 56: He Still Loves Rallies Almost As Much As He Adores Putin

[GreyhoundFan]

I bet there are many tantrums being thrown at Mar-a-Loco: "No One Is Using Truth Social, So Digital World Acquisition Is Plummeting"

Quote

Is the bubble finally bursting in Digital World Acquisition Corp. (NASDAQ:DWAC) stock? Its recent price drop seems to suggest that the answer is yes.

After running up a spectacular 90% this year, DWAC stock has taken a sharp turn south in recent days. On March 7, shares of the special purpose acquisition company (SPAC) plunged 15%, followed by another 10% decline on March 8.

As of March 11, the stock opened at $71 after slipping lower. The reversal of fortune comes on widespread reports that the company DWAC is merging with — the Trump Media & Technology Group led by former president Donald Trump — is running into some serious problems with its first venture, a social media platform similar to Twitter (NYSE:TWTR) called “Truth Social.”

A Social Media Bust

Truth Social was launched with much hype and fanfare by Donald Trump and his supporters in mid-February. However, since its launch, the social media site that is a near identical clone to Twitter has proven to be a bust. A headline from online magazine Slate sums up the situation best: “Pretty Much No One Is Using Trump’s New Social Media App (Not Even Trump).” The in-depth article states:

“Trump is followed by only 140,000 people, a fraction of the almost 90 million who followed him on Twitter before he was kicked out of there after the Jan. 6, 2021, Capitol riot. According to reports, Trump only has one message, or ‘Truth,’ up on the network: ‘Get Ready! Your favorite President will see you soon!’ He wrote that before the app’s launch and it has 7,750 “ReTruths,” the app’s version of retweets.”

The disappointing performance of Truth Social seems to be making investors think twice about supporting Digital World Acquisition Corp. or the Trump Media & Technology Group that it is to morph into following a reverse merger later this year.

Other Issues

Part of the reason for the lack of participation on the Truth Social platform is that it has been prone to glitches. Additionally, many would-be users who initially tried to join the social media site were placed on waitlists, where many of them remain.

However, the lackluster launch of Truth Social is only one issue facing the fledgling Trump Media & Technology Group. Another issue raising eyebrows on Wall Street is the company’s valuation. The rapid appreciation of DWAC stock pushed its value to nearly $20 billion, making it one of the richest pre-revenue media/technology companies ever to go public.

Another red flag analysts have raised concerns the ties with China. Digital World Acquisition Corp. is backed in part by Arc Group, a privately held Shanghai-based investment firm that’s been investigated on more than one occasion by the U.S. Securities and Exchange Commission (SEC).

Chinese securities and those that have close ties to them have performed poorly over the past year amid a regulatory crackdown on the private sector within China and concerns that Chinese companies could be barred from U.S. markets. Being backed by a large Chinese investment company should give investors further reason to proceed with caution.

Avoid DWAC Stock As It Falls

The swift rise of Digital World Acquisition Corp. was based on one thing — providing former President Trump with a media platform and political pulpit. Truth Social was supposed to be the crown jewel in the Trump Media empire. But that hasn’t happened, and the stock is now falling as a result.

How far it ultimately falls is anyone’s guess. But it is unlikely to return to the lofty heights it was at just a few days ago. And, based on the valuation, the share price was overvalued and due for a correction. As Digital World Acquisition Corp. comes hurtling back to earth, investors should run for cover. DWAC stock is not a buy.

On the date of publication, Joel Baglole did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

 

I love some of these digs at Lies Social:

[GreyhoundFan]

This made me laugh:

[Cartmann99]

5 hours ago, GreyhoundFan said:

I bet there are many tantrums being thrown at Mar-a-Loco: "No One Is Using Truth Social, So Digital World Acquisition Is Plummeting"

I wonder if Devin Nunes has one of those deals where your salary is modest because the bulk of your compensation is in the form of company stock? 🤔

Spoiler

 

[Cartmann99]

Spoiler

 

[Dandruff]

1 hour ago, Cartmann99 said:

  Reveal hidden contents

 

All the issues? There'll be a name change then...right?

[Cartmann99]

What Is Dark MAGA? Trump Supporters Attempt Rebrand for 2024

Quote

A small fringe of Donald Trump's supporters is calling for the former president to get back on the highest stage of U.S. politics with a vengeance with the motto: #DarkMAGA.

More of a meme than a political slogan, Dark MAGA is a post-alt-right aesthetic that promotes an authoritarian version of Trump in dystopian, Terminator-like images. In some, the Trump Tower is painted entirely in black and the former president is seen piercing through the screen with blue laser eyes.

The hashtag first appeared on Twitter on January 21, and it had become increasingly popular by March. It can now be found in thousands of memes on Telegram and TikTok as well.

The aesthetics of the movement are easily recognizable: images edited in red and black or red and blue, featuring people with blue laser eyes often holding weapons or standing in front of neo-Nazi symbols.

Dark MAGA supporters are calling for a ruthless, unforgiving version of Trump to take revenge on his political enemies at the 2024 election - though the movement hasn't been recognized or endorsed by Trump in any form. The former president hasn't yet even formally confirmed whether he'll run for president in 2024.

In the description of the #DarkMAGA hashtag creator, as described by the Global Network on Extremism & Technology (GNET), Dark MAGA represents "Napoleon, being exiled, and then raising a f****** army to attack Europe to attack the elites."

"#DarkMAGA is the aesthetic demand that Trump embrace a harder and more focused approach to the role only he can fill. He was too kindhearted, too forgiving. Dark MAGA demands he learn from his mistakes," writes another Twitter user.

"It's the realization that there is no political solution beyond vengeance," tweets another user.

"If you want to win, if you don't want to repeat the past, you have to get mean; you almost have to embrace the villain role that they're bringing you with," describes another supporter quoted by GNET.

 

[AlmostSavedAtTacoBell]

4 hours ago, Cartmann99 said:

What Is Dark MAGA? Trump Supporters Attempt Rebrand for 2024

 

Blue laser eyes? What, no sharks with laser beams? 

[fraurosena]

I'm no Piers Morgan fan, but I love how he makes Trump squirm. 

"Excuse me!"

 

[formergothardite]

5 hours ago, fraurosena said:

I'm no Piers Morgan fan, but I love how he makes Trump squirm. 

"Excuse me!"

 

This is why the GOP wants to keep Trump in his little bubble. He has a full meltdown the moment he is asked a slightly challenging question. 

[Cartmann99]

 

[Cartmann99]

 

[Cartmann99]

 

[47of74]

Michael Cohen has called out the orange fornicate for boasting about taking a cognitive test. 

Quote

Donald Trump’s one-time personal attorney Michael Cohen had a fit Sunday after his former boss yet again boasted that he aced an intelligence test in the White House that was actually an assessment to check for cognitive impairment.

And that was just one of the “stupid, stupid” things Trump said at a political rally in Ohio on Saturday, a revved up Cohen complained in a video by the Meidas Touch PAC.

Trump told the crowd he took the 2018 test to prove he was more intelligent than “radical left maniacs.”

As has been explained repeatedly in the media, it was actually a Montreal Cognitive Assessment, designed to detect things like early signs of dementia — not intelligence. The questions are simple, and ask if the test subject can, for example, identify a camel, and remember five words — in Trump’s case, “person, woman, man, camera, TV” — which he has demonstrated he could do on TV.

Here’s the tweet 

 

[Xan]

I'm not sure where to put this but it looks as if Musk will be buying Twitter after all and that means that Trump will be back online pretty quickly.  Nunes says that he won't but I don't believe him.  At any rate, I just deactivated my own Twitter account.  I've got 30 days to reactivate but, if Elon Musk buys it, I want no part of it and don't want any comments that I made to be retained.  I didn't have a large account and wasn't that active but I still think it's a good time to back away.  Hopefully, if the sale goes through, Twitter will go the way of all conservative media sites and self-destruct.

[47of74]

I bet a temper tantrums were had today. 

Quote

A New York judge is holding Donald Trump in civil contempt after the state's attorney general's office said he did not comply with a subpoena for documents as part of its investigation into the former President's company.

Judge Arthur Engoron said Trump failed to abide by his order to comply with the subpoena, and that his attorneys failed to show how a search of materials held by Trump was conducted. Engoron said Trump would be fined $10,000 a day until he complies.

"Mr. Trump, I know you take your business seriously and I take mine seriously. I hereby hold you in civil contempt and fine you $10,000 per day until you purge that contempt," Engoron said at a hearing Monday. A written decision with a start date for fines is expected Tuesday.

Trump plans to appeal the decision, his attorney Alina Habba told reporters.

 

[fraurosena]

20 minutes ago, 47of74 said:

I hereby hold you in civil contempt and fine you $10,000 per day until you purge that contempt," Engoron said at a hearing Monday. A written decision with a start date for fines is expected Tuesday.

Trump plans to appeal the decision, his attorney Alina Habba told reporters.

In an ideal world Trump would have to pay up until his appeal's decision and only if that decision were in his favor would he receive that money back. But until then, you're in contempt and should pay.

Sadly, this is not an ideal world...

Edited April 25, 2022 by fraurosena
missed an apostrophe

[Becky]

17 hours ago, Xan said:

I'm not sure where to put this but it looks as if Musk will be buying Twitter after all and that means that Trump will be back online pretty quickly.  Nunes says that he won't but I don't believe him.  At any rate, I just deactivated my own Twitter account.  I've got 30 days to reactivate but, if Elon Musk buys it, I want no part of it and don't want any comments that I made to be retained.  I didn't have a large account and wasn't that active but I still think it's a good time to back away.  Hopefully, if the sale goes through, Twitter will go the way of all conservative media sites and self-destruct.

Money always wins in this country. 

[Xan]

30 minutes ago, Becky said:

Money always wins in this country. 

Yes, it does.  

Some days, I can't believe we've come to this.  Nothing in this country is more important than money.  Where are our Zelenskyys?  Don't we have someone with power or influence who is brave enough to stand up and say that our government is not for sale?  The Republicans want to do away with public education.  They've gutted our workers' unions.  They've installed business-friendly judges.  Now, even public discourse can be on privately-owned venues.  Apparently, one of our two political parties no longer thinks that democracy is an important concept.  We've had nearly a million people die from a virus and a decent percentage of them died due to politicizing health measures.

 Every day, we hear more and more about how the coup was planned.  I keep hoping that eventually someone higher up will be held to account but, so far, no one has.  It's so depressing.  This is the first time in my life that I wish I had dual citizenship with another country.  

 

[Xan]

The backstory that I've been reading about the Twitter purchase is that the Republicans informed the Twitter board that they'd need to keep all records regarding Musk and his buyout offer.  The reason was that they promised a full series of hearings if they take over the House in the fall.  Twitter caved.

[GreyhoundFan]

21 hours ago, Xan said:

I'm not sure where to put this but it looks as if Musk will be buying Twitter after all and that means that Trump will be back online pretty quickly.  Nunes says that he won't but I don't believe him.  At any rate, I just deactivated my own Twitter account.  I've got 30 days to reactivate but, if Elon Musk buys it, I want no part of it and don't want any comments that I made to be retained.  I didn't have a large account and wasn't that active but I still think it's a good time to back away.  Hopefully, if the sale goes through, Twitter will go the way of all conservative media sites and self-destruct.

I have a Twitter account to keep up some of my favorite topics, but I’ve never posted a thing and will deactivate if the sale goes through. 

18 minutes ago, Xan said:

The backstory that I've been reading about the Twitter purchase is that the Republicans informed the Twitter board that they'd need to keep all records regarding Musk and his buyout offer.  The reason was that they promised a full series of hearings if they take over the House in the fall.  Twitter caved.

This doesn’t surprise me. If they take control in the midterms, we’ll be living in a thugocracy. 

[Cartmann99]

Michael Cohen says he handed over the Trump documents the New York AG is looking for to the Manhattan DA

Quote

Donald Trump's former lawyer Michael Cohen revealed on his Meidas Touch reaction videos that he's seen the documents that the New York attorney general is seeking.

"Of course, he's going to withhold documents! That's what he does," said Cohen of Trump's latest legal maneuvering, which has resulted in him getting hit with fines of $10,000 a day.

Cohen claimed that this is the same information and documents that he already handed over to the House Oversight Committee when he testified back in 2019.

"All documents and communication concerning any evaluation of any asset whose value is identified or incorporated into any of the statement of financial conditions," he explained. Those documents exist, Cohen said, because the investigators have already spoken to those who've seen the appraisals for the Trumps.

Cohen also pointed out that Trump gave some of those falsified documents to Forbes magazine to prove his wealth was among the top in the country.

"I know that document exists because I gave it to Mark Pomerantz and Carey Dunne," said Cohen, referring to the former prosecutors who both resigned from the Manhattan District Attorney's Office in March while saying in their resignation letter that Trump "is guilty of numerous felony violations."

The two prosecutors resigned because they were frustrated that newly elected district attorney, Alvin Bragg, is refusing to bring charges. Bragg disputed the claim.

See Cohen's full comments below:

 

 

[Cartmann99]

The rest of the story:

Spoiler

 

 

[47of74]

Everything fuck face touched turned to shit

Quote

Boeing's CEO on Wednesday called the unusual deal his predecessor negotiated with then-President Donald Trump for the next generation of Air Force One a one-off that he hopes not to repeat.

"Air Force One, I'm just going to call a very unique moment, a very unique negotiation. A very unique set of risks that Boeing probably shouldn't have taken," CEO David Calhoun said. "But we are where we are."

Boeing made the deal in 2018 after Trump publicly criticized the program's costs, writing "Cancel order!" and amid Trump's tough rhetoric on China that risked consequences for Boeing and other US exporters.

The former President, with his deal-making persona, took an unusually hands-on approach to the Air Force One deal. He personally met with Boeing big-wigs at the White House to seal the deal. He also shared drawings for a new red, white and blue color scheme for the jets.

 

[Cartmann99]

Trump’s Spokeswoman Calls For Arrests Over 2020 Election at QAnon Rally

Quote

Former President Trump’s chief spokeswoman spoke to a QAnon-affiliated conference over the weekend, warning the audience that if the liberals she alleges stole the 2020 election aren’t thrown in jail, they’ll come after Trump supporters instead.

“It’s so important to have accountability and have that trust restored because otherwise you’re going to get more of it. There’s no accountability? Yep. They’re gonna start arresting political opponents. They’re gonna start throwing political dissidents in jail. They’re going to parade people and interrogate you for your free speech,” Trump spokeswoman Liz Harrington said in a lengthy speech. 

“You think it’s gonna be better next time?” she continued. “You really think if there’s no arrests made from 2020, if there’s no real exposing of it and getting these people and holding them accountable, you really think they won’t do it again?”

When VICE News asked who specifically she meant should be arrested, Harrington didn’t name names but linked to two videos she claimed showed people stuffing ballot boxes with fraudulent votes. She didn’t reply to questions about whether she knew that the conference’s organizers were QAnon adherents before she agreed to speak there.

“Anyone who violated election laws should be charged. They could start with those who committed election fraud felonies on camera. So your headline should be: Trump’s Spokeswoman Calls for Those Who Broke Election Laws to Be Arrested,” Harrington told VICE News in an email.

Harrington wasn’t the only big-name MAGA Republican who spoke at the “Patriots Arise” conference in Gettysburg, Pennsylvania, which was hosted by a pair of QAnon activists and deeply steeped in the language of right-wing Christian fundamentalism.

Other speakers included former Trump attorney Jenna Ellis, Trump-endorsed Maryland GOP gubernatorial candidate and Delegate Dan Cox, and Pennsylvania gubernatorial candidate and state Sen. Doug Mastriano–and Michael Peroutka, a pro-secession Confederate sympathizer who is running as a Republican to be attorney general of Maryland.

Mastriano gave a long speech that argued that America is a Christian nation, mocked what he called “this myth of the separation of church and state,” and promised the audience that he and they are “taking our country back.”

“We’re going to win on May 17 [Pennsylvania’s primary date], with your help. And in November we’re going to take our state back. My god will make it so,” Mastriano promised, to cheers from the crowd.

After his speech, Mastriano was awarded a “Sword of David” by the convention’s co-hosts, podcasters and QAnon conspiracy theorists Allen and Francine Fosdick, whose website used to feature the QAnon slogan WWG1WGA (“Where we go one, we go all”).

“Where’s Goliath?” Mastriano said with a laugh as he raised the sword.

Mastriano vaulted from being a little-known backbencher in the state Senate to a top MAGA figure by leading the charge to try to overturn Trump’s 2020 election loss in Pennsylvania. Trump has described him as a “great patriot,” and he’s currently neck-and-neck with former GOP Rep. Lou Barletta in recent polls in a crowded primary field to win the Republican nomination for governor.

Mastriano’s running mate for lieutenant governor, Teddy Daniels, also spoke at the conference, warning the audience that “we are at war in this country, we are losing this country.” He also said that the only way to be civil with liberals is after “we beat the crap out of them.”

“We will be civil on our terms, not theirs,” he said.

Michael Peroutka, who is running as a Republican to be attorney general of Maryland, also spoke on the first day of the conference. He has advocated for the South to secede to form a Christian nation and has close ties with former Alabama Senate candidate Roy Moore. He also spent years on the board of the pro-secession League of the South, though he left the organization before it served as one of the main organizers for the Charlottesville “Unite the Right” rally.

Peroutka’s weekend speech was tame by comparison: He simply called for the impeachment of Maryland Republican Gov. Larry Hogan over Hogan’s COVID-19 policies.

 

[fraurosena]

Here’s Trump ensuring the Dem Congressional majority. Bet you didn’t see that one coming!