|Bid||71.20 x 1000|
|Ask||71.28 x 1800|
|Day's range||67.00 - 72.45|
|52-week range||9.84 - 175.00|
|Beta (5Y monthly)||N/A|
|PE ratio (TTM)||N/A|
|Forward dividend & yield||N/A (N/A)|
|1y target est||N/A|
Shares of the blank check company Digital World Acquisition Corp (NASDAQ: DWAC) rose 14% today for no apparent reason. As a special purpose acquisition company (SPAC), Digital World Acquisition Corp went public with the intent of acquiring a private business to bring it public. In late October, the SPAC announced that it intended to merge with and take public Trump Media & Technology Group, the parent of TRUTH Social.
President Trump is planning to return to social media in a big way, but not through the platforms offered by Big Tech. Because they summarily banned him from their sites following the 2020 elections, he is making an end run around them by launching his own platform and will be merging the Trump Media & Technology Group with special purpose acquisition company (SPAC) Digital World Acquisition (NASDAQ: DWAC) to create a publicly traded business. What caught many by surprise was Trump Media's announcement to kick off December that it intended to raise $1 billion by selling shares to hedge funds and other private investors in a PIPE, or private investment in public equity, deal.
(Bloomberg) -- The blank-check company set to bring Donald Trump’s media company public rallied along with other stocks tied to the former president after news his social media app is close to making its debut.The Truth Social network app, a piece of Trump’s plans for a media and tech empire, is expected to be available starting Feb. 21, according to a posting in Apple’s App Store. Shares of Digital World Acquisition Corp., the company set to merge with Trump Media & Technology Group, spiked 20%