Trump’s social networks business to begin trading on the Nasdaq on Tuesday [AP]
Trump Media hasn’t up until now divulged Truth Social’s user numbers and now that the business is openly traded, more info will be divulged. Research company Similarweb approximates that it had approximately 5 million active mobile and web users in February. That’s far listed below TikTok’s more than 2 billion and Facebook’s 3 billion — however still greater than other “alt-tech” competitors like Parler, which has actually been offline for almost a year however is preparing a return, or Gettr, which had less than 2 million visitors in February.
Trump Media lost $49 million in the very first 9 months of in 2015, when it generated simply $3.4 million in earnings and needed to pay $37.7 million in interest expenditures.
Boeing CEO Dave Calhoun to step down in wake of continuous security issues [CNN]
Boeing’s chairman, Larry Kellner, will not stand for re-election as a board director…. The business likewise revealed that Stan Deal, CEO of Boeing Commercial Airplanes, is retiring….
“The eyes of the world are on us,” he stated in revealing his departure strategies. “We are going to fix what isn’t working, and we are going to get our company back on the track towards recovery and stability.”
Trial for Fallen Crypto Tycoon Do Kwon Begins, But He Won’t Be There [WSJ]
Kwon was detained in the Balkan nation of Montenegro in 2015 and he is presently in an immigrant detention center pending the result of extradition procedures. Both South Korea and the U.S. are looking for to extradite him to deal with criminal charges…. Kwon was understood for his intriguing talk about Twitter, now X, demeaning his critics as dumb and bad. His backers consisted of crypto evangelist Mike Novogratz, who got a tattoo of a wolf shouting at a yellow moon. “I’m officially a Lunatic!!!” he discussed the art on his arm.
Ex-Lordstown Motors CEO settles with SEC over declarations [Reuters via Yahoo!]
[Stephen Burns] stepped down as CEO and board chairman in June 2021 after a brief seller report called into question Lordstown’s declarations that it had actually gotten 100,000 preorders from industrial fleets…. Lordstown applied for insolvency in 2023. Burns, who offered his staying stake in Lordstown in 2015, got court approval to buy the truck maker’s producing properties and copyright through his business LAS Capital in October.
Activist financier Politan prepares 2nd battle at Masimo, sending out shares up 5% [CNBC]
Quentin Koffey’s Politan Capital, an approximately 9% investor, revealed it would choose 2 directors to Masimo’s board, simply days after the business revealed it would look for to spin off an embattled service system…. Politan is looking for 2 more board seats to guarantee that the business follows through on the spinoff, which Politan stated was “rushed” to statement after the activist informed the business it would look for extra board seats recently.
Goldman’s Hedge-Fund Clients Get More Active in Crypto Options [Bloomberg]
“The recent ETF approval has triggered a resurgence of interest and activities from our clients,” stated Max Minton, Goldman’s Asia Pacific head of digital properties, in an interview. “Many of our largest clients are active or exploring getting active in the space.”
