American economist Peter Schiff has criticised Trump Media & Technology Group (NASDAQ: DJT), arguing that the company lacks any meaningful intrinsic value beyond its association with President Donald Trump.
Trump Media plans to merge with a company developing nuclear fusion technology, putting the president's financial interests in competition with other energy companies over which his administration holds sway.
The Trump family indirectly owns nearly 115 million DJT shares, held in the name of the president's eldest son Donald Trump Jr.
Shares of Trump Media & Technology Group ( NASDAQ:DJT ) surged on December 18 after announcing a $6 billion all-stock merger with fusion energy company TAE Technologies.
Trump Media & Technology Group (DJT, DJTWW) — the parent company of social media platform Truth Social — announced its plans to merge with nuclear energy startup TAE Technologies in a deal that could be valued up to $6 billion. Yahoo Finance energy reporter Jake Conley breaks down the nuclear fusion company's plans to begin building a reactor next year and how this deal could probably benefit Trump Media the most.
Update Thursday, December 18, 1:35 p.m.:
TAE Technologies CEO Michl Binderbauer says a planned merger with President Donald Trump's media company will help the resultant company commercialize and scale fusion power. Trump Media and Technology Group, which operates the Truth Social app, will invest up to $200 million in TAE, and TMTG will put in another $100 million after filing with the Securities and Exchange Commission.
Shares in Donald Trump's social media business, Trump Media & Technology Group Corp (NASDAQ:DJT), surged 34% after it agreed to merge with nuclear fusion developer TAE Technologies. TMTG, which owns the US president's Truth Social platform, said the merger will make it one of the world's first publicly traded fusion companies.
Trump Media & Technology Group ( NASDAQ:DJT ) — owner of President Trump's Truth Social platform — announced a shocking, all-stock merger agreement this morning with privately held nuclear fusion company TAE Technologies in a deal valuing the combined businesses at more than $6 billion.
Trump Media & Technology Group (DJT) shares entered Thursday down nearly 70% this year. They're making a chunk of it back this morning.
Trump Media & Technology Group Corp. (DJT) M&A Call Prepared Remarks Transcript
President Donald Trump's social media company, Trump Media and Technology Group (TMTG), said on Thursday that it's merging with TAE Technologies, a Southern California-based company that has been chasing the dream of fusion power for nearly 30 years.