• Flying Squid@lemmy.world
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    7 months ago

    Do you guys really want them to look into your stock being manipulated? Because I think there might be some investigation in the IPO being massively overvalued…

    • dhork@lemmy.world
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      7 months ago

      It wasn’t an IPO, though. DWAC (a company which was formed specifically to acquire other companies) acquired Truth Social at what everyone thinks is a massively overvalued price.

      All this short selling isn’t institutional investors duping retail investors, it’s institutional investors realizing how thoroughly DWAC screwed its retail investors by engaging in this deal solely to transfer wealth to Donald Trump. The Financials simply don’t make sense, and the institutions know it.

      And the weird part is, even though there are a lot of lawsuits right now around Truth Social and DWAC, I don’t think a single one is from an investor. Because those investors have been duped into believing that all the facts around the acquisition are lies, even though the financial filings paint the picture directly.