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Summary
- SPAC Digital World Acquisition Corporation completed its merger with Trump Media & Technology Group, but investors should continue selling.
- Trump Media & Technology Group reported low revenues and high operating losses for 2023, indicating a small and struggling business.
- Trump Media & Technology Group’s sky-high valuation, potential legal risks, and lack of profitability make DJT shares very risky right now.
Back in February, I warned investors that SPAC Digital World Acquisition Corporation was not ready for prime time. The blank check company was getting ready to merge with Trump Media & Technology Group (NASDAQ:DJT), giving the former President a major boost to his net worth. The deal has now gone through, and we have an additional major business update, which both reinforce the notion that investors here should keep selling.
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