Trump plan for new media venture gets investors’ thumbs up
Associated PressNEW YORK — Some investors aren’t waiting to see if former President Donald Trump’s plans for a media company to challenge the likes of Facebook, Twitter and even Disney can actually become reality — they’re all in. “It’s been going up ridiculously.” Trump has spoken about launching his own social media site ever since he was barred from Twitter and Facebook. Ali Mogharabi, senior equity analyst at Morningstar, who covers Twitter, Facebook and other social media companies, said Trump’s brand could initially give TMTG a leg up relative to other new social media sites going up against Facebook and other big players. “Whether that’s going to be sustainable in the long run, that’s very uncertain.” Mogharabi said next year’s mid-term elections could be pivotal in whether the social media platform succeeds. “It’s been many, many months since there’s been a SPAC merger greeted with this amount of enthusiasm,” said Jay Ritter, a professor at the University of Florida who specializes in initial public offerings.