Is DWAC Stock a Buy? 3 Experts Weigh In on the Truth Social SPAC.


Digital World Acquisition (NASDAQ:DWAC) stock is on the mind of investors lately as former President Donald Trump launches his Truth Social platform.

A hand hovers over a phone screen with the Truth Social social media logo representing DWAC stock.

Source: rafapress / Shutterstock

Truth Social is a social media platform that allows users to sign up and shares thoughts with others online. The platform presents itself as “America’s “Big Tent” social media platform that encourages an open, free, and honest global conversation without discriminating against political ideology.”

Truth Social is the work of the Trump Media & Technology Group. That company is currently planning to go public via a special purpose acquisition company (SPAC) merger with Digital World Acquisition.

Considering Truth Social’s recent launch, it makes sense that investors are interested in DWAC stock. Now let’s see what experts are saying about the SPAC!

Is DWAC Stock a Buy?

  • “They still have work to do on the product. There’s still some growing pains, to put it kindly. It’s difficult work to build out a social media app.” — Matthew Kennedy, senior IPO market strategist at Renaissance Capital, Bloomberg
  • “There is no better sign of a rushed implementation than the fact that you can’t onboard anybody. So I’m hard-pressed to understand why anyone would trust that these people would keep their information safe.” — Bill Fitzgerald, a privacy researcher, The Washington Post
  • “I’ll be shocked if Truth Social somehow emerges as an important platform for anything, even as an official communications channel for a Trump campaign.” — Aram Sinnreich, American University communications chair, The Hill

DWAC stock is up 1.7% as of Friday morning.

Investors searching for more stock market news just hit the jackpot!

We’ve got all the hottest stock market coverage that traders need to know about today! A few examples include what’s analysts are saying about Nvidia (NASDAQ:NVDA) stock, what’s hitting Exela Technologies (NASDAQ:XELA) stock today, as well as why DocuSign (NASDAQ:DOCU) stock is slipping. You can get up to speed on all of that at the links below!

More Friday Stock Market News

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the Publishing Guidelines.

Article printed from InvestorPlace Media,

©2023 InvestorPlace Media, LLC