One year ago, Marjorie Taylor Greene invested tens of thousands of dollars in a political action committee that wants to align with the "Truth Social" platform.
The value of the stock plummeted one year later.
The congressman is a buyer of the stock.
A year after investing heavily in a company that is set to merge with President Donald Trump's "Truth Social" platform, Republican Rep. Marjorie Taylor Greene has experienced a large financial loss.
The congresswoman from Georgia invested between $15,000 and $50,000 in Digital World Acquisition Corp.
The congresswoman lost between $12,330 and $41,100 from her investment after the stock's value plummeted.
Only one other member of Congress has invested in Digital World Acquisition Corp. Lawmakers don't have to reveal the values of their stock trades.
According to Markets Insider, he's lost between $800 and $12,000 on his investment since he invested.
The deal between Truth Social and Digital World Acquisition Corp was supposed to close in September of 2022. But it hasn't been done yet. The owner of Truth Social blamed the delay on the Securities and Exchange Commission.
The SEC has not acted despite DWAC having filed its registration statement more than four months ago. Truth Social said in a regulatory filing that the obstruction is damaging investors and others who are simply following the rules.
Since they invested, Truth Social and Digital World Acquisition Corp. has had a lot of turmoil.
The Truth Social app has been added to the Google Play Store.
After the FBI's raid on Trump's Mar-a-Lago residence there was an increase in downloads of Truth Social. Truth Social's parent company has been accused of stiffing one of its vendors and executives have left.
Digital World Acquisition Corp. changed its headquarters address from a WeWork building to a mailbox near a nail salon and an Italian seafood restaurant.
Insider has collected from public disclosures that she has an investment in Digital World Acquisition Corp..
The marriage was "irretrievably broken" according to the divorce filing. The divorce proceedings could be complicated by the fact that the estranged husband and wife own a lot of stock. An Insider analysis found that a lot of money was invested into corporations that supported social causes.
Congress has been considering banning lawmakers and their spouses from trading individual stocks since the Conflicted Congress series was published.
Activists and lawmakers were angry that the bill was put off until after the elections. There is a chance of a vote before the congressional session ends.
Business Insider has an article on it.
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