Digital World Acquisition (DWAC)
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Digital World Acquisition (DWAC) - 2024 Q4 - Annual Results
2025-02-14 21:16
Financial Results Announcement - Trump Media & Technology Group Corp. announced its financial results for the year ended December 31, 2024, on February 14, 2025[4]. - The press release detailing the financial and operating results is available as Exhibit 99.1[4]. Company Information - The company is listed on The Nasdaq Stock Market LLC under the symbol DJT for common stock and DJTWW for warrants[2]. - The company has not elected to use the extended transition period for complying with new or revised financial accounting standards[3]. - The report does not include specific financial metrics or performance indicators in the provided content[5].
Trump Media shares soar 15% after prez-elect says he won't sell, blasts ‘market manipulators'
New York Post· 2024-11-08 19:13
Core Viewpoint - Shares of Trump Media & Technology Group experienced a significant increase after President-elect Donald Trump announced he would not sell his shares in the company, which owns the Truth Social media platform [1][2]. Group 1: Stock Performance - Following Trump's comments, shares rose approximately 15% to $31.87, reaching a session high of $33.03 [2]. - The stock had previously slumped due to speculative bets losing momentum after Trump's election victory [3]. - Prior to the election, the stock surged nearly 200% in the six weeks leading up to the election as investors anticipated potential benefits under Trump's leadership [4]. Group 2: Company Ownership and Valuation - Trump owns nearly 115 million shares, representing about a 53% stake in Trump Media, valued at approximately $3.6 billion based on Friday's stock price [5]. - The total market capitalization of Trump Media was around $6.7 billion [5]. Group 3: Market Reactions and Investor Behavior - A report indicated that investors betting against Trump Media have incurred losses of $420 million since the stock began tracking the odds of Trump's election [6]. - Trump's previous statements in September confirmed his intention to retain his shares and remain with the social media platform he founded [5].
Digital World Acquisition (DWAC) - 2024 Q3 - Quarterly Results
2024-11-05 21:38
Financial Results - Trump Media & Technology Group Corp. reported its financial results for the quarter ended September 30, 2024, on November 5, 2024[4] - Specific financial metrics and performance data for the quarter have not been disclosed in the provided content[4] Company Classification - The company is classified as an emerging growth company under the Securities Act of 1933[3]
Digital World Acquisition (DWAC) - 2024 Q3 - Quarterly Report
2024-11-05 21:32
User Growth and Engagement - TMTG has achieved approximately 9.0 million signups for Truth Social across iOS, Android, and the web as of mid-February 2024[139]. - The company relies on the popularity of President Donald J. Trump for its brand value, and any decline in his popularity could adversely affect revenues and user engagement[175]. Financial Performance and Losses - The company has incurred operating losses and negative cash flows from operating activities, which are expected to continue for the foreseeable future as it expands its user base and attracts more platform partners and advertisers[141]. - Revenue for the three months ended September 30, 2024, decreased by approximately $60.4 million, or 6%, to approximately $1,010.9 million compared to $1,071.3 million for the same period in 2023[212]. - Net loss for Q3 2024 was $(19,248.4) million, a decrease of $(6,784.7) million or 26% compared to $(26,033.1) million in Q3 2023[211]. - The company has incurred operating losses and negative cash flows from operating activities, and expects to continue this trend as it works to expand its user base and attract more advertisers[180]. Cost Management and Expenses - Cost of revenue increased significantly by 199% from $41.3 million in Q3 2023 to $123.3 million in Q3 2024[210]. - General and administration expenses surged by 1,073% to $17,697.0 million in Q3 2024 compared to $1,509.0 million in Q3 2023[210]. - Total operating costs and expenses increased by 501% from $4,101.3 million in Q3 2023 to $24,665.6 million in Q3 2024[210]. - The company has paused hiring and reduced non-labor spending to manage costs in light of the current macroeconomic environment[173]. Strategic Initiatives and Future Plans - TMTG plans to roll out its streaming content in three phases, with the first phase of live TV streaming available on August 7, 2024[144]. - The company aims to enhance its platform's appeal through new initiatives and technology acquisitions, although it acknowledges the risks involved[146]. - The company plans to continue expanding its business operations internationally, despite potential risks related to competition and regulatory restrictions[183]. Financing and Capital Structure - TMTG has issued approximately $48.155 million in convertible promissory notes from May 2021 through March 2024 to fund its operations prior to the merger[147]. - The company entered into a Standby Equity Purchase Agreement allowing it to sell up to $2,500,000 of its common stock to Yorkville, with a registration statement covering 37,644,969 shares filed and effective[160]. - The company raised $734,976.7 through financing activities, which included $117,949.8 from the exercise of warrants[256]. Accounting and Financial Reporting - TMTG prepares its financial statements in accordance with GAAP, requiring estimates and assumptions that could lead to significant differences between reported and actual results[265]. - TMTG's revenue recognition follows ASC 606, determining revenue through contract identification, performance obligations, transaction price allocation, and recognizing revenue as performance obligations are satisfied[266]. - TMTG's critical accounting policies involve significant estimates and judgments that could lead to actual results differing from reported amounts, impacting future financial statements[265]. Market Risks and Economic Environment - The company is exposed to market risks, primarily related to interest rates and access to credit, which could negatively impact revenue growth and profitability[258]. - The company anticipates inflation will impact its cost of revenue and operating expenses in the coming years, potentially affecting growth negatively[171]. - TMTG is exposed to foreign currency exchange risk, which could negatively affect revenue and operating results due to fluctuations in exchange rates[290]. Management and Governance - The company has experienced management departures, which could adversely affect its business and ability to execute its business plan[182]. - TMTG has engaged Semple, Marchal & Cooper, LLP as its new independent registered public accounting firm effective May 4, 2024, after dismissing BF Borgers CPA PC[285].
Trump Media shares soar 14% on Election Day as traders bet on White House win
New York Post· 2024-11-05 17:57
Group 1 - Trump Media and Technology shares increased by 14% on Election Day, reflecting investor optimism regarding a potential Trump victory [1] - The stock, trading under the ticker DJT, has been closely correlated with Trump's chances of winning the presidency, showing significant volatility [1][5] - As of Thursday, the stock was trading at $39.04, up 13.7% from previous levels, indicating a strong market response to political developments [2] Group 2 - Trump Media's stock has doubled in value this year, rising from $17.45 on January 2 to $39.46 on Election Day [3] - The stock experienced a 33% decline over the past week as Vice President Kamala Harris gained momentum in the race, highlighting the impact of political events on stock performance [3] - The trading activity has been highly volatile, with nearly 16 million shares changing hands in the first 10 minutes of trading on Election Day, surpassing the 30-day average trading volume [5][6] Group 3 - The stock has been a topic of discussion on WallStreetBets, similar to the GameStop phenomenon, indicating a trend of speculative trading [5] - Analysts have noted that the trading behavior resembles "GameStop on steroids," suggesting that while short-term trading may be profitable, long-term metrics do not support the current valuations [4]
Trump Media Shares Close At Record Low Again As End Of Trump's Lockup Period Nears
Forbes· 2024-09-18 22:35
Core Points - Trump Media shares closed at a record low of $15.64, marking a decline of over 3% and continuing a downward trend after falling to $16.14 the previous day [1] - The expiration of the lockup period allows major shareholders, including Donald Trump, to sell their stakes, although Trump has stated he will not sell his shares [2][1] - The value of Trump's stake, totaling 78.75 million shares, decreased from $1.4 billion to $1.2 billion within a few days [4] Stock Performance - The value of Trump Media shares has decreased by 80.2% since reaching a record high of $79.38 on March 25 [5] - The stock has been volatile since going public through a reverse merger, with significant fluctuations in value linked to Trump's political activities [7] Legal and Regulatory Context - A Delaware court ruled in favor of an early investor, awarding them approximately 800,000 additional shares, which contributed to a 6.6% drop in Trump Media shares [6] - The lockup period for Trump Media shares was set to end if certain conditions were met, including the stock trading above $12 for a specified duration [3]
Trump Media shares surge 17% after Donald Trump says he isn't selling, will stay on Truth Social
New York Post· 2024-09-13 19:25
Donald Trump is not selling any of his majority stake in the company that owns Truth Social, and he will not leave the social media platform he created, the Republican presidential candidate told reporters on Friday. Shares of Trump Media & Technology Group surged 18% following his comments. Trump owns about 57% of Trump Media, which saw its shares slump this week following his televised debate with Democratic rival Vice President Kamala Harris. Donald Trump said he is not selling his shares of Trump Media ...
Trump Media Shares Plummet To Record-Low In Premarket Trading After Debate
Forbes· 2024-09-11 13:13
Topline Shares for Trump Media on Wednesday dropped more than 15% in premarket trading, falling to what would be a new record-low for the stock, after Vice President Kamala Harris became the betting favorite to win the election after a debate with former President Donald Trump, the majority stakeholder in the Truth Social parent. Vice President Kamala Harris became the betting favorite to win the election after a debate with the ... [+] former president. Copyright 2024 The Associated Press. All rights reser ...
Trump Media Stock Falls Below $20—Lowest Price Since Going Public
Forbes· 2024-08-28 18:48
Topline Shares of Trump Media and Technology Group fell below $20 for the first time since the company officially went public through a merger in March, continuing a downward trend for the Truth Social parent company— and sending former President Donald Trump's net worth down about $140 million. Truth Social's parent company Trump Media could close at its lowest level since it merged with a ... [+] blankcheck firm to go public. The Washington Post via Getty Images Key Facts The company traded at $19.87 as o ...
Digital World Acquisition (DWAC) - Prospectus
2024-08-23 20:42
TABLE OF CONTENTS As filed with the Securities and Exchange Commission on August 23, 2024 Registration No. 333- SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM S-1 REGISTRATION STATEMENT Under The Securities Act of 1933 Trump Media & Technology Group Corp. (Exact name of Registrant as specified in its charter) (Primary Standard Industrial (State or other jurisdiction of incorporation or organization) Devin G. Nunes Chief Executive Officer Trump Media & Technology Group Corp. 401 N. Cattlemen ...