Five facts you might want to keep in mind about Devin Nunes' departure from the House of Representatives (to become the CEO of a company that may never really be a thing.)
1) The map of the 22d Congressional district of California, which Nunes represents, is about to be redrawn. It will become less deeply red.
2) Since Nunes is leaving at the end of this year, a special election will be held, before that redraw can be completed. This means that someone will represent that 22d for the final year of its existence in its current form, just long enough to be the incumbent for an effort at re-election within the new district in November.
3) It isn't obvious whether that incumbency in such a circumstance will create much advantage. So, between the redrawing and the special election, it looks as if the new 22d is primed to be a Dem pick-up in November.
4) Nunes has distinguished himself in office chiefly as the filer of meritless defamation lawsuits, one of them against a twitter account purporting to be his Cow. @DevinCow spiked in popularity. Aside from that, he is central casting's idea of a Trump Republican.
5) What is he leaving to do again? To become the CEO of Trump Media & Technology Group (TMTG). The plan in Trump world is for newly-formed TMTG to start trading on Nasdaq quite soon. Hmmm. Isn't there a lot of paperwork involved in going public and getting listed? How are they planning on pulling this off quickly?
Good question.
The plan is to merge with a shell company named Digital World Acquisition Company and inherit DWAC's listing. THAT proposed transaction, though, is under investigation.
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