Donald Trump is about to be the leader of the most consequential nation in the world again, and he has arguably never been more powerful. With the US Senate and US House of Representatives under Republican control, Washington in all sense is Trumpian.
Jack Smith Drops Cases
In a new development concerning the billionaire politician, US prosecutor Jack Smith has moved to drop the federal criminal cases against Donald Trump. These criminal cases were brought against Trump in the election subversion case.
This comes only a few days after it was reported that Trump plans to fire US prosecutor Jack Smith and his entire team. For the uninitiated Jack Smith is the US public prosecutor who is responsible for bringing criminal cases against the former president.
Smith, in his statement said, "This outcome is not based on the merits or strength of the case against the defendant.”
With Trump's victory and his eventual ascent to the White House has put the status of litigations against him in jeopardy.
It is to be noted that Trump has already been convicted of 34 felonies in the Hush Money case.
However, the election subversion case is said to be more severe than the Hush Money Case, with greater consequences.
Truth Social Shares
When we look at shares of Donald Trump's only listed company, Trump Media & Technology Group Corp or Truth Social, the fortunes of the company have fluctuated significantly.
The market has treated Truth Social like a meme stock. A meme stock is a stock, that picked up and artificially inflated in value, even in the dearth of any real value, in terms of its ability to generate any revenue.
This however has benefited Trump, as it has brought about resources to him.
Truth Social shares have ended the day's trade in red on Monday. The shares declined with marginal losses of 0.06 per cent or USD 0.02, slumping to USD 30.75 per share. In the past five trading sessions, the shares have risen by 2.74 per cent.
