The MeidasTouch Podcast - Trump LATEST MOVE with Stock Raises MAJOR RED FLAGS 🚩

Episode Date: April 29, 2024

MeidasTouch host Ben Meiselas reports on the latest move by Donald Trump’s media company regarding the trading of stock. Thanks to HIMS! Start your free online visit today at https://hims.com/meidas for your personalized ED treatment options. Visit https://meidastouch.com for more! Join us on Patreon: https://patreon.com/meidastouch Remember to subscribe to ALL the MeidasTouch Network Podcasts: MeidasTouch: https://www.meidastouch.com/tag/meidastouch-podcast Legal AF: https://www.meidastouch.com/tag/legal-af The PoliticsGirl Podcast: https://www.meidastouch.com/tag/the-politicsgirl-podcast The Influence Continuum: https://www.meidastouch.com/tag/the-influence-continuum-with-dr-steven-hassan Mea Culpa with Michael Cohen: https://www.meidastouch.com/tag/mea-culpa-with-michael-cohen The Weekend Show: https://www.meidastouch.com/tag/the-weekend-show Burn the Boats: https://www.meidastouch.com/tag/burn-the-boats Majority 54: https://www.meidastouch.com/tag/majority-54 Political Beatdown: https://www.meidastouch.com/tag/political-beatdown Lights On with Jessica Denson: https://www.meidastouch.com/tag/lights-on-with-jessica-denson On Democracy with FP Wellman: https://www.meidastouch.com/tag/on-democracy-with-fpwellman Learn more about your ad choices. Visit megaphone.fm/adchoices

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to speak to an advisor free of charge. BetMGM operates pursuant to an operating agreement with iGaming Ontario. I think it's important that I continue to share my opinion an advisor free of charge. BetMGM operates pursuant to an operating agreement with iGaming Ontario. I think it's important that I continue to share my opinion about Donald Trump's company and his stock, DJT, as just a further warning or a further data point. Again, I'm only giving you my opinion, but it's my opinion that the tactics being used by Donald Trump and his company are the kind of bottom-of-the-barrel stock promotion BS that we've seen in boiler rooms of the past at a multiple that, frankly, I've never seen before in my career. Folks, this is just my opinion. Consult other people for their opinions. I'm not giving stock advice, but I want to explain to you right now, again, how is it possible that this stock continues to rise? And in my view, it's being pumped. It's being primed in a way that, frankly, is very similar and has a lot of similarities to the way that Donald Trump would pump his claims about election

fraud that didn't exist. It is relentless. It is overwhelming. It uses the levers of government and other corrupt government officials. Again, all just my opinion, but there's two important data points I want to give you. One, a letter from this morning that Trump media sent out to its retail investors, the potential Mr. and Mrs. team, in my view, are kind of knowingly doing things that I think that they shouldn't be doing. I'll just leave it at that again, kind of my opinion. And then I want to share with you what Devin Nunes did using his position as a member, as a former member of Congress, to send a letter to Jim Jordan and James Comer and MAGA Republican Congress member Smith and others to try to get them involved in this as well. Again, in my opinion, as part of the pump aspect. I'll give you the disclaimer one more time. I'm

just giving you my own opinion and this is not stock advice. Here's the letter that was sent this morning where Trump media is essentially advising its shareholders to remove the shares from brokerage accounts. It's kind of shocking stuff here. It says, this is the release from Trump Media. This is what's being sent to their shareholders. Trump Media provides additional information to DJT investors regarding recalling their shares. Sarasota, Florida, April 29, 2024. Trump media is highlighting actions that DJT shareholders can take to prevent the lending of their shares by brokerage firms for the purpose of short selling. This was done this morning. The company's shareholder base primarily consists of retail investors who hold their shares through various brokerage firms. Many of these retail shareholders invested in DJT

because they support TMTG's, Trump Media Group's, mission to create a free speech beachhead against big tech corporations. Now, in my own opinion, that statement is false and misleading. The company's shareholder base does not primarily consist of retail investors, in my view. In my opinion, it consists mainly of Donald Trump and some other, there's large institutional investors who were there from the merger of the SPAC. There was the SPAC sponsor. I mean, Donald Trump is the one who holds millions and millions of shares, close to 60%. Donald Trump was issued another 38 million shares. So the shares are pretty much

all held by Donald Trump. And then the SPAC sponsor has a huge amount of shares. So I just don't think that statement is accurate. There is a float and there are retail shareholders, but it's primarily Donald Trump's controlling most of the shares. Trump Media wants to clarify that if shares are currently on loan by brokerage firms to facilitate short selling, shareholders have the option of asking their broker to recall their shares. After recalling their shares, longtime shareholders who believe in the company's future can then hold their DJT shares in a cash

account, opt out of any securities lending programs, or move their shares to a direct registration DRS account at the company's transfer agent, Odyssey Transfer and Trust Company. Take it out of your brokerage account and just give it to our transfer agent. So when the insiders start to sell, y'all aren't able to get rid of it quickly enough and you're going to be extra screwed. My opinion, but that's why this is so extra dastardly. The depths to which they will go to do this is something that is a sight to behold. They then give their retail shareholders a form letter because they know these retail investors aren't sophisticated. So they're going to tell them how you can basically take steps to eventually move your shares out of your brokerage account into an account of

the transfer agent for DJT. They give you the letter. Dear sir or madam, please accept this written instruction to make sure the following securities are held in my cash account only and accordingly are not available for any stock loan activities. I hereby expressly opt out of any securities lending program and instruct you not to loan out any of my shares. Additionally, as applicable, please recall any shares that are currently on loan. And then it gives you the form. It says, additional information regarding moving shares out of brokerage accounts. Please note that investors may incur certain costs in connection with transferring shares out of a brokerage account. And once their shares are moved to our transfer agent, their ability to timely transfer their shares back to the firm and sell may be a longer process. Right there. It's right in the

language right there, folks. What they're saying basically is the ability for you to sell and dispose of your shares. Because you know what's going to happen when the insiders are not locked up. The insiders have a six-month lockup period. When the insiders are done with the lockup and they want to quickly dump, then the retail investor goes, okay, I want to dispose of my share. What they're saying over here to the retail investor, if they're even going to read further through these disclaimers, it says, please note that the investor may incur costs. And once their shares are moved to our transfer agent, their ability to timely transfer their shares back to a brokerage firm and sell may be a longer process. Holding shares in physical certificate form involves risk of loss or destruction where a bond of indemnity is required to replace the certificate. I mean, this should be the biggest

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it is. I mean, I just read it for you, but they're saying what we did was not investment advice. Then what was that? What did you just tell them to do? The company encourages investors to speak with their financial advisor about any transactions and strategies such as using cash accounts to hold their securities instead of margin accounts and the lack of liquidity resulting from or costs of transferring and holding their shares at our transfer agent to ensure they are appropriate for the investor's individual circumstances. So they want to include that are appropriate for the investor's individual circumstances. So they want to include that language eventually when the shareholders sue them. Do you see how nefarious that is right there, what they are basically doing?

I mean, it is beyond nefarious in my mind. And it's like, can you imagine a company advising its shareholders to take their shares out of a brokerage account? Have you heard of that before? And the company's shareholder base is not lots of retail investors. It's like Donald Trump and other very wealthy people. I mean, combined, I think they control like 75% of the shares. And one of the things that they want to do is keep the share price high enough so when Donald Trump and the insiders can eventually sell this thing. Here's the headline from Barron's. DJT stock gains. Trump media's Truth Social platform isn't growing, but Trump media stock

doesn't seem to be affected by failing activity on the Truth Social platform. Stock and Trump Media, the parent company of Truth Social Media, is rising despite signs of activity that the network itself might be failing. In other words, the fundamentals of the company are failing or not doing well, yet the stock continues to rise. And it talks about Trump Media shares being up. But what Barron's, I think, needs to do a little bit of a better job is explaining why. Because again, we're seeing these very low barrel, we're seeing these bottom of the barrel stock promotion, just BS right here. And then you have Devin Nunes sending a letter to Congress. Truth Social owner asks Congress to investigate troubling market manipulation. Trump Media and Technology Group is asking Congress to investigate its suspicions that

illegal activity is driving down its share price. In a letter disclosed on Wednesday, Devin Nunes, the CEO of Truth Social, which Devin Nunes, MAGA Republican, was on Congress. So he sent a letter to his Republican colleagues asking them to investigate this. And again, here it is, TMTG. You see the letter. Dear Chairman Jordan, McHenry, Smith, and Comer, I write to inform you of an urgent matter concerning the potential manipulation of the stock of Trump media

and technology group which trades on the Nasdaq stock exchange under the ticker DJT. And then it goes on to basically say, a thorough and expeditious investigation should include requests for the following, a consolidated audit trail trading data, including trading records, quotes, market records. You want to look at an audit, Devin Nunes? How about we look at this audit? How about we look at the audit of Trump Media? And we know that Trump Media in 2023 only did 4.1 million revenue for the entire year, 4.1 million revenue on $59 million losses in 2023. And we know that from your own auditor, here's what the auditor for Trump Media said. A substantial doubt about the company's ability to continue as a going concern. The accompanying financial statements

have been prepared, assuming that the company will continue as a going concern. As discussed in Note 2 to the financial statements, the company's operating losses raise substantial doubt about its ability to continue as a going concern. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. So that's coming right there from your own independent auditor saying that the company's operating losses raise substantial results. So you have Donald Trump and all of the MAGA people now saying, oh, this market manipulation, market manipulation. That's why the stock was going down when the stock, in my opinion, was actually finding its true value, which if you talk about over 200 million outstanding shares

and you talk about $4 million in revenue, just do the simple math, what one share would each of you would be worth if you have 200 million outstanding shares with $4 million in revenue. Again, in my opinion, that's why it would trade more like a penny stock than anything like this. Again, that's my opinion. But then you had all the Trump media people going out and saying, here's what you need to do with your brokerage accounts. Take it out. Put it over here with our

people. Here's what you need to do. Congress, we need you to come in and investigate. It's very Trumpian. And I just want to share what's happening right now. So, you know, we could go back and look at this and don't say you weren't warned. Again, my opinion, you could have different opinions. I'm not giving stock advice, but tell me what you think. Hit subscriber on our way to 3 million subscribers.