Trump-Linked Digital World Acquisition Counted Billionaire Wall Street Financier Jeff Yass' Firm As Largest Institutional Shareholder: Report
Portfolio Pulse from Benzinga Neuro
Jeff Yass' firm, Susquehanna International Group, was revealed as the largest institutional shareholder in Digital World Acquisition Corp. (NASDAQ:DWAC), which merged with Trump Media & Technology Group. Susquehanna, a market maker, claims to have zero economic interest in Trump Media, balancing its long position with equivalent short positions. Amidst Trump's financial challenges, including significant legal bills and a potential property 'fire sale', concerns are raised about the implications of his financial decisions on his assets and associated companies.
March 25, 2024 | 1:38 am
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Susquehanna International Group, identified as a major shareholder in DWAC, claims no economic interest in Trump Media, amidst Trump's financial challenges and potential asset liquidation.
While Susquehanna's stake in DWAC is significant, their claim of having no economic interest in Trump Media, coupled with Trump's financial challenges, creates uncertainty. This situation may lead to neutral short-term impact on DWAC's stock, as market reactions could be tempered by the complexity of the situation and the offsetting nature of Susquehanna's positions.
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