Similar Stories to At Least 2 Hedge Funds Dumped Their Spac Stakes After A Merger With Trump's New Media Company Was Announced, Reports Say on Bing News

Former President Donald Trump's new social media site. Chris Delmas/AFP via Getty Images Investors in the SPAC that merged with Trump Media reportedly sold their stakes on the news. "For us, this was not a close call," Boaz Weinstein, of Saba Capital Management, told Bloomberg. Shares of Digital World Acquisition Corp. climbed 357% on Thursday and 107% on Friday. As news hit that former President Donald Trump's new media company, Trump Media & Technology Group, would go public via a SPAC, at least two investors pulled their money, reports said."I knew that for Saba the right thing was to sell our entire stake of unrestricted shares, which we have now done," Boaz Weinstein, founder of Saba Capital Management, told Reuters.

BING NEWS:
  • As Trump Media reported net loss of more than $320 million, share prices fell 13%
    Trump Media, the parent company of Truth Social, trading on the stock market as DJT, reported more than $300 million in losses in Q1 of 2024.
    05/22/2024 - 5:24 am | View Link
  • How Donald Trump’s Financial Future Became Tied to Trump Media
    Mr. Trump has treated Trump Media, which runs his social network Truth Social, as a low-cost sideshow. Now a big portion of his wealth hinges on its success.
    05/21/2024 - 8:42 am | View Link
  • Trump Media Stock Down After Company Reports $300 Million Loss
    TMTG, the parent company of former President Donald Trump 's social media platform Truth Social, reported a net loss of $327.6 million for the first quarter of 2024. This loss was primarily attributed ...
    05/20/2024 - 10:53 pm | View Link
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