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Trump Media 18% Stock closed down more after filing plans to issue more DJT stock



Trump Media 18% Stock closed down more after filing plans to issue more DJT stock

Trump Media’s share price experienced a significant decline of over 18% during Monday’s trading session following the revelation of plans enabling current investors to utilize stock warrants. DJT shares concluded the day at $26.61. Trump Media, known for its creation of the Truth Social app and listed on the Nasdaq, suffered a nearly 20% drop in the previous week. This sharp downturn coincided with Donald Trump’s presence in a Manhattan courtroom for the commencement of his criminal trial concerning charges related to hush money. Trump maintains a majority stake in the company.

Since its initial public offering on March 26, Trump Media has witnessed a staggering decline in its share price, plummeting over 62% from the opening price of $70.90 to approximately $27 by Monday. Consequently, its market value has been severely diminished by nearly $6 billion, dwindling to around $3.7 billion as of Monday. The company’s plan to issue additional common stock was revealed in a preliminary prospectus submitted to the Securities and Exchange Commission. However, these shares cannot be distributed until a registration statement with the SEC becomes effective.

According to the filing, Trump Media outlined a proposal to offer over 21.4 million shares of common stock, which would be available “upon the exercise of warrants.” These warrants grant the holder the right to purchase shares at a predetermined price within a specified period. Trump Media estimated in the filing that it could generate “up to an aggregate of approximately $247.1 million from the exercise of the Warrants.” As per the filing, the closing price of Trump Media’s warrants stood at $13.69 on Friday. These warrants are traded on the Nasdaq under the ticker symbol “DJTWW,” which experienced a decline of more than 15% on Monday.

The company also intends to facilitate the resale of up to 146.1 million shares of stock held by “selling security holders,” with 114.8 million of these shares attributed to Trump himself. Trump’s ownership encompasses 78.8 million shares of the company, and he stands to gain an additional 36 million “earnout shares” if the stock maintains a value above $17.50 for a sufficient number of trading days. As of Monday morning’s share price, Trump’s current ownership stake in the company, amounting to nearly 60% of its shares, was valued at over $2.2 billion. However, Trump is prohibited from selling his shares until the expiration of a six-month lockup period. This lockup period was mandated as part of Trump Media’s protracted merger with the shell company Digital World Acquisition Corp., which was formally completed on March 25.

Trump, whose social media presence significantly dwindled after transitioning to Truth Social following his suspension from Twitter and Facebook in 2021, has been attempting to rally his followers to embrace the new platform. However, it remains uncertain if they have responded to Trump’s urging, as the company has not publicly disclosed crucial performance metrics, including the number of active Truth Social users. Despite this lack of transparency, Trump Media reported a substantial net loss of $58.2 million in 2023, despite generating just $4.1 million in revenue.

Ben Silverman, head of Verity Research, remarked, “The stock valuation is disconnected from the financial reality.” However, if the stock price remains sufficiently high for the issuance of earnout shares, Trump and other insiders could potentially reap a windfall exceeding $1 billion based on current trading prices.

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Google CEO Pichai Calls for Reset After Activist Fires



Google CEO Pichai Calls for Reset After Activist Fires
Pressure mounts on Sundar Pichai to resign as Google CEO

Google, a subsidiary of Alphabet, terminated 28 employees this week who were demonstrating against the company’s cloud computing agreement with the Israeli government. This action underscores the intensifying disputes surrounding the Gaza conflict and its impact on corporate environments.

In a recent companywide email, Google’s Vice President of Global Security, Chris Rackow, disclosed that these employees were dismissed following an investigation that linked them to protests at Google’s facilities in New York and Sunnyvale, California.

Rackow elaborated in his Wednesday email that the terminated employees had taken control of company premises, vandalized property, and obstructed the work activities of their fellow employees, thereby breaching the company’s policies.

He highlighted that these incidents stemmed from objections to Google’s $2 billion contract with what the protesters described as Israel’s genocidal government and military, which they argue serves the interests of managers and shareholders more than those of the employees who generate actual value for the company.

The recent protests were sparked by a Time magazine report that referenced company documents indicating Google supplied cloud services to the Israeli Defense Ministry.

Read More: Trump Media 18% Stock closed down more after filing plans to issue more DJT stock

In 2021, Google and Amazon entered into an agreement known as Nimbus, under which they agreed to provide cloud services to the Israeli government. On Tuesday, police in New York and California arrested nine Google employees following a 10-hour sit-in. According to the group No Tech for Apartheid, protesters in Sunnyvale took over an office used by Google Cloud CEO Thomas Kurian.

Protesters at both sites stated their intention to remain in Google’s offices until they were forcibly removed or until Google terminated its contract with Israel.

In New York, employees occupied a common area and displayed a banner that read “No Technocide.” Although Google stated earlier in the week that the contract was not meant for use in weaponry or intelligence operations, some employees remain worried that the company might still contribute to Israel’s military actions. Protesters argue that Google has minimal influence over the ways in which Israel utilizes its technology. Historically, Google has allowed open internal discussions regarding political and professional matters.

Following Donald Trump’s victory in the 2016 presidential election, Google executives, including co-founder Sergey Brin, expressed disappointment during a company-wide meeting and discussed the potential influence of the company’s services on the election outcome. In 2018, after significant internal controversy, Google chose not to renew its Pentagon contract known as “Project Maven.”

The company has committed to not developing artificial intelligence technology for military weapons and has established a set of AI principles to guide its projects. Additionally, some Amazon employees have protested against the company’s contract with Israel. Amazon Employees for Climate Justice, a group critical of Amazon’s environmental practices, urged the company in February to terminate its Nimbus contract. The group expressed on the social platform X, “Just as we don’t want our work used to help fossil fuel companies accelerate extraction and destruction, we also don’t want our work used to support military and surveillance projects like Project Nimbus, which perpetuate genocide.” An Amazon spokesperson declined to comment on the Nimbus project.

Read More: Texas has installed a new anti-climb fence at the US-Mexico border

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Texas has installed a new anti-climb fence at the US-Mexico border



Texas has installed a new anti-climb fence at the US-Mexico border

Texas has erected a fresh “anti-climb” razor fence along the US-Mexico border amidst legal disputes with the Biden Administration. This action coincides with ongoing Republican criticisms of President Joe Biden’s border strategies in this election year.

Fox News reporter Matt Finn posted a video showcasing Texas troops, clad in camouflage, setting up the barrier near El Paso. In a social media update on X, Finn likened the anti-climb fence to a “wall” previously erected at Eagle Pass. Notably, Governor Greg Abbott dispatched the Texas National Guard to Eagle Pass during the migrant crisis.

“Exclusive: first up-close look at Texas’ new wire fence and barrier going up in El Paso,” Finn stated. The brief seven-second clip displays the installation of a standard wire fence reinforced with multiple layers of razor wire. Additionally, the reporter remarked, “Miles of it. Similar to the effective ‘wall’ in Shelby Park, Eagle Pass.”

Following the circulation of the video on X, Republicans lauded the evident act of defiance. They viewed the development as a direct challenge to the Biden administration and a triumph for Abbott. It’s worth noting that Biden and Abbott have been in disagreement over the migrant crisis, adding context to the celebration.

Abbott has vehemently criticized Biden, advocating for the return of former President Donald Trump to the White House. With the legal dispute reaching a climax in March, the installation of the new razor fence sends a clear message of defiance. Conservative commentator and Turning Point USA founder Charlie Kirk also weighed in on the anti-climb fence.

Kirk contended that Abbott installed the fence in defiance of “the Biden Regime.” Following this assertion, Kirk highlighted that a significant number of undocumented migrants toppled a fence and overwhelmed the Texas National Guard.

“Texas has once again DEFIED the Biden Regime by taking back control of the El Paso border,” Kirk expressed. “Texas National Guard installed concertina wire and a new anti-climb fence this morning.” He further elaborated, “On March 21st, a mob of illegals pushed through border personnel.”

“Rioting, and then tearing apart the previous razor wire barrier,” Kirk added to the narrative. Similarly, right-wing political cartoonist Ben Garrison joined the discussion, sharing a drawing of Biden wrapped inside the fence with razor wire spelling “MAGA.” In the illustration, an armadillo carrying a Texas flag looks at the President and says, “Don’t mess with Texas.”

Garrison’s commentary, shared alongside the cartoon, echoed Kirk’s sentiments. “Don’t mess with Texas!” Garrison wrote. “Today, the Texas National Guard defied the Biden regime and again took control of the El Paso border, installing concertina wire (razor wire) and a new anti-climb fence.”

Additionally, The Conservative Read, an account aiming to “combat the biased mainstream media,” criticized the Biden administration. They argued that the fence was a response to Biden “prioritizing illegals.” “While the Biden admin refuses to close the border, prioritizing illegals,” the account remarked while sharing Finn’s video.

“Texas continues to take matters into their own hands to protect our nation’s sovereignty & security,” the account added. “Texas National Guard installing new wire fence and barriers in El Paso.” This isn’t the first instance of Texas asserting its own border policies.

Abbott has implemented stringent border policies in defiance of the federal government, including the practice of busing migrants to sanctuary cities. Consequently, the Biden administration and many on the political left have criticized these actions, labeling Abbott’s tactics as heavy-handed and “cruel.” These policies have encountered numerous legal challenges.

Furthermore, Biden has accused Republicans of deliberately exacerbating the migrant situation for political gain. The President alleges that they are enhancing their chances of winning the upcoming presidential election in November by worsening the problem.

Biden claimed that Trump urged GOP lawmakers to obstruct a bipartisan bill containing $20 billion to enhance border security. However, the installation of the anti-climb fence in El Paso follows the incident on March 21, which some have characterized as a “riot.” Over 100 asylum seekers reportedly overwhelmed troops in an attempt to unlawfully enter the US.

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New York City Abolishes “Right to Shelter” Regulations, Leaving Illegal Migrants Stranded



New York City Abolishes Right to Shelter Regulations, Leaving Illegal Migrants Stranded

After four decades, the regulation that facilitated the lives of many in New York City came to an end. The ‘Right to Shelter’ policy, which provided immediate housing for qualifying individuals, was abolished.

Up to now, more than 180,000 people sought refuge in New York City alone. Previously, these individuals were assured shelter, but now they find themselves without support, encountering unpredictability and difficulties.

The discontinuation of the policy has rendered numerous individuals homeless. This has particularly affected those undergoing challenges due to migration and adjusting to a new environment.

The sudden termination of the Right to Shelter policy has led many migrants to resort to dangerous or nearly impossible survival tactics. Makeshift shelters, sleeping in trains, streets, or public restrooms have become common for them.

Now, they must endure harsh conditions, often layering clothing to fend off the cold. The struggle for basic needs has become significantly more challenging. New York City has swiftly changed several policies, including the Right to Shelter regulation, aiming to alleviate pressure on the shelter system. These modifications provide more flexibility in determining migrants’ shelter stays.

Critics argue that this adjustment could worsen the cycle of homelessness and exploitation. Many migrants have shared their stories, highlighting increased levels of exploitation and vulnerability within the shelter system.

Reports have highlighted instances of illegal apartments, overcrowding, and extreme measures taken by migrants. These conditions have exposed systemic failures and societal inequalities, which have been exacerbated by the alterations in shelter policies.

Once renowned as a sanctuary city, New York City now faces criticism over its revised policies, which have raised questions about the balance between social justice and limitations. Uncertainty shrouds the future of the Right to Shelter policy, sparking debates.

The city is grappling with legal complexities and humanitarian crises resulting from the temporary policy changes, particularly affecting asylum seekers and the homeless. Authorities have not offered clarity on when this humanitarian crisis will be resolved, leading to urgent calls for sustainable, compassionate solutions remaining unanswered.

NYC Mayor Eric Adams defended the decision to end the Right to Shelter, citing unsustainable costs and stretched resources. He acknowledged that budget cuts are affecting both the homeless population and crucial services.

However, The Legal Aid Society and other advocates are contesting the city’s move and the new policy, stressing the importance of maintaining the Right to Shelter. Court-monitored negotiations might result in changes to shelter policies for migrants.

The migrant crisis is significantly straining the city’s finances, leading to adjustments in budgets and reallocating expenditures. Nonetheless, the termination of this regulation has ramifications beyond municipal finances, impacting businesses, employment, and social services.

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