Donald Trump tries his hand with meme-stocks

There isMAGASPACSECHODLSECSPACDWACNASDAQDJT a spirited corner of the internet where die-hards go to talk politics, God and the stockmarket. On Reddit and Rumble (a kind of far-right YouTube) they pump up their man Donald Trump and his social-media company, Truth Social, which they pray will soon go public via a (). Together they pore over its latest filings with the Securities and Exchange Commission (), then they read a Bible verse or two. One Old Testament proverb—“Buy the truth and do not sell it”—is almost too apt. “That’s what we’re doing here, folks,” says Chad Nedohin, a hype-man on Rumble. “Literally, as a team of investors, we have bought into truth and we are never selling because we are diamond-handed ers”. That is crypto-speak for “hold on for dear life”.Faith is a prerequisite for this merry band of meme-stock traders. Truth Social’s path to the public markets has been long and fraught, dogged by an probe, lawsuits by disgruntled former employees and a cash crunch. At last a flotation looks imminent. On March 22nd investors in a —a listed pot of capital—called () will vote on whether to merge with Truth Social’s parent company, Trump Media & Technology Group. If enough assent the combined firm will start trading under the ticker .