MTG Mom Talks Trump Media Stocks | Wilnesh News

A media company with ties to former President Donald Trump is off to a rocky start with falling stock prices and poor company performance. value Decreasing day by day.

Georgia Rep. Marjorie Taylor Greene, who several years ago bought stock in a company that helped list Trump businesses on Nasdaq, seemed in no rush to discuss the troubled business.

When asked by CNBC and NBC News, Greene did not disclose what happened to her shares in Digital World Acquisition Corp., which is owned by Trump Media, recently began trading publicly under the name DJT. Shares have fallen at least 45% so far this month.

Trump Media is the parent company of the former president’s social media app, Truth Social. DWAC shareholders voted to approve the merger with Trump Media, allowing the company to go public on March 22 and list on Nasdaq on March 26.

Greene is one of two members of Congress to disclose buying stock in the company. Digital World Acquisition Company. She and Indiana Republican Rep. Larry Bucshon both bought stock in the company in October 2021, the same month the company announced it had completed a merger with Trump Media, according to financial disclosure reports. The deal between the two entities, among which Trump Enterprises is publicly traded on the stock market, is targeted.

Green purchased DWAC stock in amounts ranging from $15,000 to $50,000 on Oct. 22, 2021, days after the merger was announced, according to her official financial disclosure documents filed with Congress. DWAC stock opened the day at $118.80 and closed at about $67.

According to financial disclosures, Bucshon purchased DWAC stock on October 25, 2021, at prices between $1,000 and $15,000. DWAC shares closed the day at around $83.

Chris Josephs, co-founder of the stock trading app Autopilot, said if either of the two lawmakers were still investors in DWAC now, they could have lost thousands of dollars in Green’s case up to $32,500. Josephs noted that Bucshon could lose as much as $8,900 as the stock price falls.

A spokesman for Bucshon confirmed to CNBC and NBC News that the Indiana congressman still holds stock in the now-merged media company despite the decline.

“Congressman Bucshon has taken no further action regarding his investment in DWAC since his initial purchase of DWAC in October 2021, and he has fully complied with all disclosure requirements required by federal law related to the transaction,” the spokesperson said in a statement. “

He did not answer a follow-up question about why Bucshon continues to hold the stock, which closed Thursday at $32 and has fallen 54% since listing on Nasdaq in March. The company also erased all gains since the DJT ticker began trading at $70.90.

Bucshon’s most recent annual financial disclosure shows that entering 2023, his DWAC stock holdings were valued at between $1,001 and $15,000.

But Greene wouldn’t say what happened to her stock because her initial stock purchases and her public disclosures don’t show she sold DWAC or Trump Media stock, according to documents archived by LegiStorm, prompting ethics lawyers to challenge Greene. Questions about what happened to the stock.

Asked about the status of DWAC stock, Greene spokesman Nick Dale said in an email that Greene “does not currently hold any shares, as reflected in her financial disclosures.”

He did not respond to a follow-up request for comment about what happened to her company stock.

Greene also wouldn’t reveal what happened to her Trump media stocks when asked by NBC News on Wednesday. “It’s a waste of time. I thought you could read my report and see what I have,” she said.

“Where is her inventory?” Richard Painter, the former George W. Bush White House ethics lawyer, said in a telephone interview.

He and other ethics lawyers offered some potential reasons why Green wouldn’t include the stock in its recent disclosure.

Campaign Legal Center general counsel Kedric Payne said if she still owned DWAC stock, it would not need to be disclosed if the asset’s estimated value was less than $1,000.

Another possible scenario is that Green recently sold her stock. Painter said in that case she wouldn’t have to disclose the sale for up to 45 days. Painter said she also may have lost the asset in her 2022 divorce proceedings from her then-husband, noting that if the stock was given up through a divorce settlement, it might not be considered an asset transaction.Greene reportedly finalized her divorce in December 2022 Business Insider.

“She had to explain what happened,” Painter explained.

Lawmakers are not prohibited from trading or holding individual stocks and other investments. But under the Stock Act, MPs must report any transactions within 45 days.

Some members of Congress and outside groups have long argued that members of Congress should not be allowed to trade stocks while serving as elected officials. But legislation that would ban them from trading individual stocks has stalled in Congress.

—NBC News’ Scott Wong contributed to this article.