American economist blasts Trump's DJT for lacking ‘intrinsic value'

Core Viewpoint - Peter Schiff criticizes Trump Media & Technology Group (DJT) for lacking intrinsic value beyond its association with Donald Trump, highlighting a lack of a coherent business model as the company shifts strategies [1][3][4] Company Evolution - DJT initially launched as a social media platform with Truth Social but faced growth and monetization challenges, leading to a rebranding as a financial technology and cryptocurrency-focused entity [2][3] - The company is now proposing a merger with TAE Technologies, a fusion energy firm, marking another significant strategic pivot [3][6] Merger Details - The all-stock merger with TAE Technologies values the combined entity at over $6 billion, positioning DJT as one of the few publicly listed companies involved in nuclear fusion research [6] - Management presents the merger as a long-term investment in clean energy and the increasing demand for power from data centers and AI infrastructure [6] Market Reaction - Following the merger announcement, DJT shares saw significant volatility, with a more than 8% increase on the day of the news and a rally of over 50% in the past five days [7][9] - Despite this positive market reaction, DJT's stock is down more than 50% year to date, indicating ongoing struggles for the company [9]