Trump Media falls after verdict reached in New York criminal case
Wall Street Breakfast
Seeking Alpha
4.1 • 1K Ratings
🗓️ 31 May 2024
⏱️ 6 minutes
🧾️ Download transcript
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Transcript
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| 0:00.0 | Welcome to See King Alpha's Wall Street breakfast, where we cover the top news for investors every morning. |
| 0:08.0 | Good morning. Today is Friday, May 31st, the final day of the trading week and month. I'm Julie Morgan. |
| 0:16.0 | Trump media takes a hit following Thursday's guilty verdict. |
| 0:20.0 | All eyes are on OPEC this weekend. |
| 0:22.8 | Will the cartel extend production cuts? |
| 0:25.8 | And the DOJ says content creators must be adequately compensated. |
| 0:31.0 | Trump Media and Technology Group is down nearly 9. compensated. guilty on all 34 counts in a criminal trial that accused the former president of falsifying |
| 0:45.8 | documents to cover up a hush money payment. |
| 0:49.1 | Trump media and technology operates the social media platform, Social where the former president frequently posts. |
| 0:56.2 | He is the majority owner of Trump media. |
| 0:59.5 | Sentencing is scheduled for July 11th, four days ahead of the Republican National Convention. |
| 1:05.4 | The maximum sentence for falsifying business records is up to four years in prison, |
| 1:10.6 | although experts say it is very unlikely that he will serve time in |
| 1:14.4 | jail. The market is looking to Sunday's OPEC Plus meeting where the |
| 1:19.2 | cartel will decide whether to extend output cuts beyond Q2. |
| 1:24.2 | Reuters reported on Thursday that OPEC Plus is working on a complex deal |
| 1:28.9 | to be agreed at its meeting that will allow the group |
| 1:31.6 | to extend some of its deep production cuts into 2025. |
| 1:36.3 | The group is currently cutting output by a total of 5.8 million barrels a day, including |
| 1:41.7 | 3.66 million barrels a day including 3.66 million barrels a day by OPEC plus members |
| 1:45.6 | valid through the end of this year and 2.2 million barrels a day of voluntary |
| 1:51.0 | cuts by some members which expire at the end of June. |
... |
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