Công ty truyền thông của Trump trị giá gần 8 tỷ USD trong ngày giao dịch đầu tiên

Trump Media & Technology Group, mới sáp nhập với công ty vỏ bọc giàu tiền mặt, bắt đầu giao dịch trên Nasdaq, bổ sung thêm hàng tỷ đô la vào tài sản của cựu tổng thống

Former President Donald J. Trump’s social media company jumped on its first day of trading on the Nasdaq on Tuesday, giving the company an estimated market value of close to $8 billion, larger than established corporations like Mattel, Alaska Airlines and Western Union.

The biggest beneficiary of the market action has been Mr. Trump, who owns about 60 percent of Trump Media, making him the largest shareholder. His stake in the company — the parent of Truth Social, the online platform that is Mr. Trump’s main megaphone for reaching supporters and attacking critics — is worth about $4.6 billion on paper.

By most traditional measures, Trump Media’s valuation is inordinately high (cao quá mức). The company took in just $3.3 million in revenue during the first nine months of last year, all from advertising on Truth Social, and recorded a loss of $49 million.

That means Trump Media’s market value is nearly 2,000 times its estimated annual revenue. Investors sometimes assign lofty valuations (ấn định giá trị cao ngất ngưởng) to small, loss-making companies in anticipation of rapid growth — or a belief that other investors will continue to bid up a company’s shares, for whatever reason — but typically not on this scale.

The board may still vote to loosen that restriction (nới lỏng hạn chế) if that is what Mr. Trump wants. He holds tremendous sway over the company: Besides owning about 60 percent of Trump Media’s stock, he owns a separate class of shares that gives him at least 55 percent voting power over any measure presented for a shareholder vote. And the company’s seven-member board is stacked with loyalists, including his eldest son, Donald Trump Jr.

The bigger challenge for Trump Media’s board is coming up with a strategy to increase the company’s business and expand the reach of Truth Social in order to justify the company’s valuation. Truth Social is a relative minnow in the social media universe and largely dependent on Mr. Trump’s posts for drawing traffic.

In merging with Digital World, Trump Media got a badly needed infusion of roughly $300 million in cash that Digital World had raised from investors (nhà đầu tư) . Without that infusion, Trump Media and Truth Social were looking at potentially shutting down.

source: nytimes,

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