Donald Trumps conservative social media platform, Truth Social, will become apublicly traded companyas early as next week.
Truth Social has been a lifeline many times for Donald Trump, butnow more than ever.
Trump would own at least 58% of the public company in this arrangement.
Photo: Rokas Tenys (Shutterstock)
However, board members can sign a waiver allowing Trump to exit his lockup agreement beforehand.
Redditbecame the first social media company to IPO in five years this week, following Pinterest in 2019.
Trump Media is not IPOing, its merging with an already public company.
However, Truth Social will be the second large social media company to become publicly traded this year.
If it becomes a meme stock, its likely to have significant fluctuations in share price.
Reddit recentlycalled itself outas having the potential to become a meme stock in its IPO filing.
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