The rightwing social network’s flotation, supported by fans of the ex-president, make it a part of the ‘meme stock’ phenomenon
• Business live – latest updates
Donald Trump’s social network went public on Tuesday and almost immediately hit a valuation of almost $8bn (£6.3bn). The valuation fell back to a more modest $6.58bn by the time markets closed in New York, but that still represented a gain of more than 15% on its initial public offering (IPO) value. Shares rose again in volatile trading on Wednesday, and were up 13% by mid-morning, valuing it at $9.3bn. That enormous success has raised questions, and not all of them are easy to answer.
Continue reading…
The rightwing social network’s flotation, supported by fans of the ex-president, make it a part of the ‘meme stock’ phenomenon
• Business live – latest updates
Donald Trump’s social network went public on Tuesday and almost immediately hit a valuation of almost $8bn (£6.3bn). The valuation fell back to a more modest $6.58bn by the time markets closed in New York, but that still represented a gain of more than 15% on its initial public offering (IPO) value. Shares rose again in volatile trading on Wednesday, and were up 13% by mid-morning, valuing it at $9.3bn. That enormous success has raised questions, and not all of them are easy to answer. Continue reading…Technology | The Guardian