Redditors are buzzing about former President Donald Trump's social media platform, Truth Social, as it is set to become the second social media company to go public in less than a week.
What Happened: Digital World Acquisition Corp. (NASDAQ:DWAC) announced Monday that it has completed its business combination with Trump Media & Technology Group Corp.
According to regulatory filings, Trump Media & Technology Group pulled in $3.3 million in revenue over the first nine months of 2023 and booked losses of $49 million during the same period. When it begins trading on the Nasdaq on Tuesday, TMTG could be valued as high as $8.6 billion on a fully diluted basis based on current prices.
Retail Chimes In: Redditors are commenting on the staggering valuation of the parent company of Truth Social, an unprofitable social platform with approximately five million active users, according to estimates ...