this post was submitted on 01 Apr 2024
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United States | News & Politics

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Trump's Truth Social loses $4 billion in value in one week, while revealing wider loss (www.cbsnews.com)
submitted 6 months ago by ylai@lemmy.ml to c/usa@lemmy.ml
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[–] Pringles@lemm.ee 1 points 6 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).