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Trump's Truth Social loses $4 billion in value in one week, while revealing wider loss (www.cbsnews.com)

submitted 7 months ago by ylai@lemmy.ml to c/usa@lemmy.ml

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[–] 420blazeit69@hexbear.net 6 points 7 months ago (2 children)

I believe they did an IPO

[–] delirious_owl@discuss.online 6 points 7 months ago

My reaction when my instance admin "does an IPO" and basically sells my contributions and my data to the highest bidder

[–] Pringles@lemm.ee 1 points 7 months ago

Not quite. They merged with a spac, which is an empty financial vehicle traded on a stock exchange that has the specific purpose of merging with a legitimate company later, allowing that legitimate company to go public much faster (3-6 months vs 12-18 months).