On the other hand, the only publicly traded company that Trump manages, his ill-fated casino gambler, has gone on several bankruptcies tours, burning investors, banks, and employees along the way. and left behind a haunting collection of craters in Atlantic City. Trump, backed by his father, survived that crisis, but few others did. Trump Media and Truth Social have raised some red flags. They plan to open early next year, but as my colleague Matt Levine has noted, they are doing so without a detailed business plan or financial projections. Trump Media has also not completed a merger with DWAC or made related securities filings. And so far, SPAC has had a shoddy track record, performing less well than standard initial public offerings.
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