Trump Media to merge with Fusion power company

Trump Media, which operates his Twitter clone Truth Social, is to merge with TAE, a company developing nuclear fusion technology. The all-stock deal values the pair at $6bn and, for obvious reasons, requires some explanation. CBS News, now under Trump-friendly management, has the fluff:

For Trump Media, the merger represents another strategic shift, given its 2021 launch as a business focusing on the conservative-leaning social media space. More recently, the company has pivoted beyond its roots as a tech business. Earlier this year, Trump Media struck a deal to raise $2.5 billion to buy bitcoin, creating a reserve of the cryptocurrency, and it has also rolled out investment funds with "America-first" strategies. 

The merger with TAE represents a continuation of Trump Media's "America first" principles, former California lawmaker Devin Nunes, now chief executive of Trump Media, said in a Thursday conference call with investors. 

"Fusion power will lower energy prices, bolster our national defense and secure the energy needed to guarantee America's dominance of AI technology," Nunes said on the call. 

The claim of fusion power plants being sited next year and operational within 5 sounds fanciful. The science is fascinating, though, and the idea of dairy man Devin Nunes being its CEO is, frankly, hilarious.

Trump Media stock shot up in value after Trump won re-election last year, but the company never made any money and it amounted to a "vibe stock" for MAGA. As can be seen by the chart below, by December it was down 70% for the year and going nowhere. Even with the post-announcement pop, only those who bought in very recently will yet be happy. But you're in the club! You're appreciated very much!