by Chris Brunet and Harry Wilmerding
Investors in former President Donald Trump’s social media venture’s parent company rejoiced Thursday, the anniversary of the Capitol riot, as shares skyrocketed by 20%.
Digital World Acquisition Corporation (DWAC) began the day with shares hovering around $50 before rising to $60 by the close of trading. This increase brought DWAC’s total market capitalization to approximately $2.2 billion.
A special purpose acquisition company (SPAC) is a company formed with the purpose of buying private businesses and securing investor funding without the private businesses themselves going public.
The driving force for Thursday’s surge was a post in the Apple App Store indicating that Truth Social — Trump’s social media platform — set a launch date of Feb. 21, Presidents’ Day, The Guardian reported. At the helm of Trump’s new platform will be Republican California Rep. Devin Nunes, who announced his plan to resign from Congress last month to become chief executive of the Trump Media and Technology Group (TMTG).
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Hey CJ – where’s the article correcting this misleading piece of CCP propaganda??
Why are you trying to induce the Republic’s good Patriots to invest there hard earned money into a losing company, that’s bleeding cash, and is headed by the Republic’s biggest loser?
Truth, according to Truth’s SEC filing, is that “as of June 30, 2023, and December 31, 2022, management has substantial doubt that TMTG will have sufficient funds to meet its liabilities as they fall due, including liabilities related to promissory notes previously issued by TMTG,”
Trump’s social worth about as much as a trump steak.
How’s Truth Social working out for everyone?
Another grand flop for trump? You guys gonna blame Hillary for this failure too?
fake comment from imposter. probably @realjesse too embarrassed to show his face after public humiliation. A historical know nothing of epic proportions.
Please stop complaining about fake comments. We value free speech and welcome all readers to post their views.