Fox Business anchor Stuart Varney predicted on Tuesday that the ultimate value of Donald Trump’s media company stock will be entirely dependent on how he performs in November.
Shareholders of Digital World Acquisition Corporation approved a merger with Trump’s media company last week, just days before Trump faced a deadline to pay a $464 million bond in New York based on a civil fraud judgement he is appealing. That bond has since been lowered to $175 million.
The merger pumps hundreds of millions into Trump’s media empire, but there has been a question around what the value of Trump’s media company will actually be once initial trading and valuations have settled.
“Are people buying this company, this stock because they think it’s got inherent value or because they want to demonstrate support for Donald Trump?” Varney asked markets analyst Scott Shellady on Tuesday.
Shellady said he can’t see how a valuation in the billions can be justified at the moment and predicted …
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