Dear DWAC Stock Fans, Truth Social Will Start Trading Tomorrow as DJT Stock


  • The most high-profile SPAC merger of the year is set to unfold.
  • Digital World Acquisition Corp (DWAC) will merge with Trump Media & Technology Corp., bringing Truth Social public.
  • A vote that took place on Friday has been finalized, and the company expects to begin trading tomorrow under the ticker “DJT.”
DWAC stock - Dear DWAC Stock Fans, Truth Social Will Start Trading Tomorrow as DJT Stock

Source: mundissima / Shutterstock

The world of special purpose acquisition corporation (SPAC) mergers is about to heat up in a big way. Digital World Acquisition Corp. (NASDAQ:DWAC) is now set to officially merge with Trump Media & Technology Group (TMTG) after a regulatory filing showed the merger had the necessary votes to proceed. Shares of DWAC stock surged more than 30% in early afternoon trading on this news.

Shares of TMTG, the parent company of former president Trump’s Truth Social platform, will begin trading tomorrow under the ticker “DJT” on the Nasdaq Exchange. A recent filing shows that the merger has been officially completed. Today’s move is allowing the stock to make up previous losses following Friday’s news that the merger had been approved.

Let’s dive into what investors may want to make of this announcement today.

DWAC Stock: Trump Could Get a Big Boost From This Merger

A significant amount of attention has been paid to the legal troubles that have followed the former president since leaving office nearly four years ago. However, he could stand to reap a major windfall if this merger goes through at its current valuation. His 58% stake in the company could be worth more than $3 billion if tomorrow’s launch goes as expected.

Now, Trump will have his shares locked up for a period of six months. This may make cashing out shares difficult (but not potentially impossible) to do. This will have many investors watching closely to see how or when he chooses to unload his position and what percentage of the company he will retain.

Truth Social has been touted as a platform looking to “reclaim the Internet from Big Tech censors,” though previous stumbles have some investors concerned as to the underlying fundamentals of this business model long-term.

I have no idea which way this stock will trend over the course of the coming trading days or weeks. However, I am fairly certain we will see significant volatility with this launch. Thus, I’ll be watching this merger happily from the sidelines, but it should make for an interesting week, to be sure.

On the date of publication, Chris MacDonald 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.

Chris MacDonald’s love for investing led him to pursue an MBA in Finance and take on a number of management roles in corporate finance and venture capital over the past 15 years. His experience as a financial analyst in the past, coupled with his fervor for finding undervalued growth opportunities, contribute to his conservative, long-term investing perspective.

Article printed from InvestorPlace Media,

©2024 InvestorPlace Media, LLC