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Marjorie Taylor Greene owned Trump stock. Now that it's falling apart, she won't say what happened to her.

Marjorie Taylor Greene owned Trump stock.  Now that it's falling apart, she won't say what happened to her.

 


A media company with ties to former President Donald Trump is off to a rocky start with its stock price plummeting and the company's value falling by the day.

Rep. Marjorie Taylor Greene, R-Ga., appears unwilling to discuss the troubled business, years after buying stock in a company that helped Trump's business go public on Nasdaq.

Asked by CNBC and NBC News, Greene would not say what happened to her shares in Digital World Acquisition Corp., which, through a merger with Trump Media and Technology Group, recently began trading publicly under the name of DJT. The stock price is down at least 45% since the beginning of the month.

Trump Media is the parent company of the former president's social media app, Truth Social. DWAC shareholders voted to merge with Trump Media to take the company public on March 22, with the company debuting on Nasdaq on March 26.

Greene is one of two members of Congress who have disclosed purchasing shares of Digital World Acquisition Corp. She and Rep. Larry Bucshon, R-Ind., each purchased shares of the company in October 2021, according to financial disclosure reports, the same month the company announced it. had reached an agreement with Trump Media to merge the two entities, with the aim of having the Trump company listed on the stock exchange.

Greene purchased shares of DWAC on October 22, 2021, just days after the merger was announced, for an amount ranging from $15,000 to $50,000, according to his official congressional financial disclosure filings. DWAC stock opened that day at $118.80 and closed around $67.

Bucshon purchased DWAC stock on October 25, 2021, for a price between $1,000 and $15,000, according to a financial disclosure. DWAC shares closed the day at around $83.

If either lawmaker is still an investor in DWAC, they could have lost thousands of dollars, up to $32,500, in the Greenes case, according to Chris Josephs, co-founder of the DWAC trading app. Autopilot actions. Josephs noted that Bucshon could have lost as much as $8,900 with the stock price falling.

A spokesperson for Bucshon confirmed to CNBC and NBC News that the Indiana lawmaker still owns stock in the now-merged media company despite the stock price decline.

Congressman Bucshon has taken no further action regarding his investment in DWAC since its initial purchase in October 2021, and he has fully complied with all disclosure requirements required by federal law relating to this trade, said the spokesperson in a press release.

He did not respond to follow-up questions about why Bucshon continued to hold the stock, which closed at $32 on Thursday, marking a 54% drop in the stock price since the stock's IPO. Nasdaq in March. The company has also erased all of its gains since shares began trading under the ticker DJT at $70.90.

Bucshon's latest annual financial disclosure shows he entered 2023 with DWAC stock valued between $1,001 and $15,000.

But Greene would not say what happened to her shares since her initial purchase and public disclosures did not show that she sold DWAC or Trump media shares, according to documents archived by LegiStorm, raising concerns. questions among ethics lawyers about what happened to Greene's actions.

Asked about the status of his DWAC shares, Greene spokesman Nick Dyer said in an email that Greene does not hold any shares at this time, as reflected in his financial disclosures.

He did not respond to requests for comment on what happened to his shares in the company.

Greene also wouldn't say, when asked by NBC News on Wednesday what happened to her Trump Media shares. It's a waste of time. I think you can read my reports and see what I have, she said.

Where is his stock? Richard Painter, a former White House ethics lawyer for George W. Bush, said in a telephone interview.

He and other ethics lawyers have offered some potential reasons why Greene would not have included the title in his recent disclosures.

If she still owns DWAC stock and the estimated value of the asset was less than $1,000, there would be no need to disclose it, according to Campaign Legal Center general counsel Kedric Payne.

Another plausible scenario is that Greene sold her shares recently. In that case, she wouldn't have to disclose the sale for 45 days, according to Painter. She also could have lost that asset during her 2022 divorce proceedings from her then-husband, Painter said, noting that if the shares had been given away as part of a divorce settlement, it might not be considered as an asset transaction. Greene finalized her divorce in December 2022, according to Business Insider.

She needs to explain what happened, Painter said.

Lawmakers are not prohibited from trading or holding individual stocks and other investments. But under the STOCK Act, members of Congress must report any transactions within 45 days.

Some members of Congress and outside groups have long argued that members of Congress should not be allowed to trade stocks while being elected. But legislation that would prohibit them from trading individual stocks is languishing in Congress.

— NBC News Scott Wong contributed to this story.

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