If the SPAC is approved this week, he could potentially use the stock as collateral to get a bond and avoid having properties seized or declaring bankruptcy by next week’s deadline.

  • xmunk
    61·
    8 months ago

    IPOs are fucking complicated but as long as the financial records are accurate and it’s just idiots overvaluing his brand then it isn’t fraud on his part but idiocy on others. Most big tech IPOs initially deflate - some do so dramatically… it’s probably something we should change as a society but that’s honestly just par for the stock market bullshit course.

    • GrymEdm@lemmy.world
      3·
      8 months ago

      Fair enough. So not actually fraud so much as people making…let’s call it “questionable” decisions to maintain civility.