Trump Supporters Are About To Lose MILLIONS As Truth Social Deal Flops

Trump supporters are about to lose millions of dollars after investing in Truth Social because the company seeking to acquire the group, Digital World Acquisition, is about to have to liquidate their holdings. The group has been unable to finalize their deal, and under the terms of their charter, if they don't complete it by the set date (coming very soon) they have to return all the money that was invested - which would be at a loss due to the stock plummeting. Farron Cousins explains what's happening.

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*This transcript was auto-generated. Please excuse any typos.

Trump supporters stand to collectively lose millions of dollars in the coming weeks as Digital World acquisition. The group that was supposed to merge with Trump Media and technology group appears more likely to have to liquidate than actually go through with their purchase. Now, as we know right now, digital world cannot complete their purchase of Trump media and technology group because they're under criminal investigation for possible collusion with Trump media and technology before the merger was actually decided upon by the investors. So they're not allowed to complete the merger, and here's why that matters. I get to why the Trump people are gonna lose a lot of money in just a moment. But here's why it matters that they can't do the merger. Now, when Digital World originally got together, they have a charter and that charter says that this deal, after all the investors put their money in the pot and then they acquire the target. Uh, the deal has to be done by a specific date. If the deal is not done by that date, then the company is forced to liquidate and dissolve.

The date is coming up in a couple weeks. In order to extend that deadline, they have to have at least 65% of the investors vote to extend it. They have attempted to do that. They can't get the votes without those votes to extend that deadline. When that date hits, which I believe is, uh, towards the end of November here, if that date comes and they do not have the 65% of the votes to extend the deadline, it's over the company by their own legal charter has to dissolve and liquidate. And it's at that point that the investors, you know, the pro-Trump people, including Marjorie Taylor Green, by the way, they lose all their money. Well, that's not exactly true. They don't lose all their money. They get back what's left. But here's the problem. When this deal was announced and digital world went public and you could then buy the stock, the stock was selling for roughly $90 a share, and it actually did go up from there. So those people, most of them bought it at 90, Some of them bought it at over a hundred dollars a share. I think it peaked at about $116 per share. If the company is forced to liquidate at the end of November, uh, based on the current standings, those people who bought shares will be compensated roughly, which means a little bit under $10 per share.

So if you bought it at 90 and you only get $10 per share, you've lost $80 per share.

These people are going to lose tons of money. And for people like Marjorie Taylor Green, uh, who stands according to her financial disclosures, she stands to lose tens of thousands of dollars. Good. She deserves it. She's also a millionaire. So it doesn't matter. But you have average mom and pop investors out there that have been repeatedly duped by Donald Trump who bought some shares of this crap and they're gonna get screwed. And yes, even if they're MAGA hat wearing freaks, I still have sympathy for them, right? I shouldn't, I absolutely should not. These people should have known better. There is nothing in Donald Trump's history to suggest that he would be a success at this project, but those people are gonna lose a lot of money. Part of me wants to say, Haha, you deserve it. Part of me wants to say, Oh man, that sucks for you.

But at the end of the day, buyer beware. Right? And hopefully you people learned a lesson from this. If Donald Trump has an investment opportunity, don't take it. It's as simple as that. You know, take a look at the people suing him in that class action lawsuit for pushing this, uh, basically bogus video calling technology. He's getting sued over that. Most of his businesses have gone bankrupt. I don't know what you people thought would be different with this one, but you're learning the hard way that no, it's exactly like every other failed product. Donald Trump has launched, and y'all are gonna lose millions of dollars because you trusted the con.