The conservative social media company has lost roughly half its market value since May 30, the day former President Donald Trump was convicted of 34 felony counts in a hush money trial. Trump Media’s volatile share price tumbled another 5 per cent on Friday , leaving it down by a staggering 50 per cent in the span of just three weeks.The severe selloff has erased nearly US$3 billion from the estimated net worth of Trump, the controversial company’s leading shareholder and chairman.
The problem is that even after the recent selloff, Trump Media is still valued in the billions of dollars, and yet it generates very little revenue. Trump Media was already having a bad June, and then it got even worse when the company announced the Securities and Exchange Commission approved its registration statement. The green light from regulators clears the way for early investors to exercise warrants they hold in the company to buy more shares.
“The price of these meme stocks is determined by supply and demand – something that is true for any stock but more so for when a stock is trading so far above its fundamental value,” said Ritter, the finance professor. University of Toronto computer scientist Geoffrey Hinton describes plenty to fear with AI, but with visions of combat drones, mass surveillance and robot overlords ahead, there may be space for hope.
A new poll reveals a stark divide between Quebec and the rest of Canada about whether the country should be bilingual. The Federal Aviation Administration is investigating a Southwest Airlines flight that descended to just 525 feet in the Oklahoma City area on Wednesday, triggering an altitude warning.Manhattan prosecutors are urging the judge overseeing Donald Trump's criminal hush money case to uphold a gag order that bars the former president from criticizing jurors, court staff or members of the prosecution that convicted him.
University of Toronto computer scientist Geoffrey Hinton describes plenty to fear with AI, but with visions of combat drones, mass surveillance and robot overlords ahead, there may be space for hope.Japan's space agency has suffered a series of cyberattacks since last year, but sensitive information related to rockets and satellites was not affected and it is continuing to investigate and take preventive measures, officials said Friday.
More than 100 stolen vehicles recovered in auto theft probe involving ServiceOntario employee: Toronto police
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