#Trump’s Truth Social is now a public company. Experts warn its multibillion-dollar valuation defies logic
“Despite the late-day slide, Wall Street is still assigning Trump Media an eye-popping valuation of nearly $11 billion — a price tag that experts warn is untethered to reality.”
https://www.cnn.com/2024/03/26/markets/trump-media-stock-truth-social?cid=ios_app
@GottaLaff@mastodon.social
So, Wall Street artificially jacks up the price of Trump’s social media site.
Trump uses the artificially inflated value to post bond.
Stock price collapses to a fraction of it’s value upon the bond.
NY State collects worthless stock as payment for fine.
Is that how this works out?