Devin Nunes Just Cost Trump's Social Media Investors TONS Of Money

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During an appearance on Fox News last month, Devin Nunes admitted that Trump's new social media app would be delayed another month and a half. And while his honesty is appreciated, once that official transcript was sent to the Securities and Exchange Commission, it cost investors in Trump's new venture TONS of money. The project has already been hit hard with problems and bugs, and the latest setback is sure to give investors reason for concern. Ring of Fire's Farron Cousins explains what's happening.

Link - https://www.cnbc.com/2022/02/07/trump-spac-stock-digital-world-acquisition-corp-plunges-on-delay-news.html

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*This transcript was generated by a third-party transcription software company, so please excuse any typos.

Devin Nunes has only been in charge of Donald Trump's social media empire for about a month and a half, and already things are not going well for poor Devin. On a recent appearance on Fox news, in fact, I believe it was January 23rd, Nunes announced that unfortunately Donald Trump's new social media app was not going to be launching in February. And in fact, they've pushed it all the way back now to March 31st. And this is of course, after they were originally supposed to launch at the end of last year and didn't. They tried to do a soft launch and it didn't work. They had a bunch of spammers come in and take up all the real user names like Donald Trump and Mike Pence and they didn't have the foresight to, you know, fix that ahead of time. And so they've been plagued with problems and Devin Nunes said honestly, on Fox news, listen, we're not gonna be able to hit the February deadline.

It's gonna be March 31st. But of course, because there are rules in place in our financial industry, believe it or not, there's still a couple rules left, this statement about the company by Devin Nunes on Fox had to be filed with the Securities and Exchange Commission, because it was in fact a statement about the business dealings with the company. And once this information was officially filed with the Securities and Exchange Commission, the stock for digital world acquisition group, the group that owns and invests in Donald Trump's social media company, it tanked. A lot of people lost a lot of money because Devin Nunes was honest for once. I think that's quite remarkable, right? But here's the thing. Yes, it's funny that all these idiots lost a lot of money investing in a project that's probably ultimately gonna fail anyway, but it's funny because this thing hasn't even gotten off the ground yet.

And we're already starting to see lots of people, not just with this instance, but throughout the last few months, lose a lot of money on this venture. And the way it's set up, the folks at digital world acquisition group, they're gonna be fine and Donald Trump is gonna be fine. Even if this whole project goes belly up, those folks are gonna turn a profit on this because they've already externalized all of these losses through the sales of this stock. So who gets screwed here, your average investors, because we're not seeing a lot of, you know, high profile, big dollar donors come in to buy up all this stock. No, a lot of it is going to Trump supporters. Hell I think Marjorie Taylor Greene invested $50,000 of her own money into this program and early returns have already shown that she's lost thousands of dollars by doing this. Now she deserves it and I will admit, I got a bit of a soft spot for all the average mom and pop investors that have thrown money into this.

But you should have known what you were getting into. How many of Donald Trump's business ventures have been successful versus how many have been failures? Oh, sure, the guys got lots of money, but he only actually has about 90 million, according to recent reports, that's actual liquid money. Like money that he could spend in a vending machine.

Видео Devin Nunes Just Cost Trump's Social Media Investors TONS Of Money канала The Ring of Fire