A media company with ties to former President Donald Trump is off to a rocky start with share prices tanking and the company’s value diminishing by the day.
Rep. Marjorie Taylor Greene, R-Ga., doesn’t seem eager to discuss the struggling business, years after she purchased shares in a company that helped Trump’s business go public on the Nasdaq.
Asked by CNBC and NBC News, Greene wouldn’t say what happened to her stock in Digital World Acquisition Corp., which, through a merger with Trump Media and Technology Group, recently started publicly trading as DJT. The share price is down at least 45% month to date.
Trump Media is the parent company of the former president’s social media app, Truth Social. Shareholders of DWAC voted to approve the merger with Trump Media in order to take the company public on March 22, with the company debuting on the Nasdaq on March 26.
Greene is one of two members of Congress who disclosed buying shares in Digital World Acquisition Corp. She and Rep. Larry Bucshon, R-Ind., each bought stock in the company in October 2021, according to financial disclosure reports, the same month the company announced it had completed a deal with Trump Media to merge the two entities, with the goal of the Trump business publicly trading on the stock market.
Greene bought shares of DWAC on Oct. 22, 2021, just days after the merger announcement, in an amount ranging from $15,000 to $50,000, according to her official congressional financial disclosure filings. The DWAC stock opened up trading that day at $118.80 and finished around $67.
Bucshon bought DWAC stock on Oct. 25, 2021, for anywhere between $1,000 and $15,000, according to a financial disclosure. DWAC’s stock closed the day at around $83.
If either of the two lawmakers are still investors with DWAC now, they could have lost thousands — up to $32,500 in Greene’s case — according to Chris Josephs, the co-founder of stock trading app Autopilot. Josephs noted that…
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