President-elect Donald Trump's media company, TMTG, is seeking to acquire crypto trading platform Bakkt in an all-stock deal, marking its first move beyond the Truth Social platform.
The financial struggles of both TMTG and Bakkt are notable, with Bakkt facing a 'going concern' notice due to cash flow uncertainties, while TMTG has lost hundreds of millions since its public debut.
Despite its financial woes, TMTG remains a heavily traded meme stock, demonstrating a disconnection between its stock performance and the underlying business fundamentals.
Trump's ownership in TMTG, at 53%, translates to approximately $3.7 billion, illustrating the potential impact of the Bakkt acquisition on his net worth.
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