Posted on 10/22/2021 4:44:11 AM PDT by redguyinabluestate
Digital World Acquisition shares jumped as much as 94% in premarket trading Friday, as investors piled into the special-purpose acquisition company set to take former US President Donald Trump's media startup public. DWAC stock already skyrocketed 357% on Thursday after the SPAC announced it was acquiring Trump Media & Technology Group. The shares closed at $45.50, valuing the vehicle at about $1.5 billion - not far off the prospective $1.7 billion valuation for TMTG highlighted in the press release about the deal. Trump has pitched his startup as a "rival to the liberal media consortium" and an effort to fight back against Big Tech, which he accuses of "silencing opposing voices." TMTG intends to launch a social-media platform named Truth Social in the next few months, and later roll out an on-demand video-streaming service featuring "non-woke" news, entertainment, and other programming. The vision for the company is to disrupt some of the most valuable and influential companies in the world, including Apple, Amazon, Walt Disney, Netflix, Alphabet, Microsoft, and Facebook. Part of its mission is "galvanizing a conservative media universe," according to a "company overview" on its website that doesn't include any details of its operations or executives.
(Excerpt) Read more at markets.businessinsider.com ...
Trading in the mid-$70’s right now.
It almost hit $80 overnight.
Should make a big splash when it greets the Opening Bell up $30 over yesterday’s Close.
I hope Trump is back in the White House in January 2025 but he’s probably doing America more good by creating this media company that is sufficiently capitalized to compete with the big boys (marxist liberals all) and make them “move over”.
Several other tech stocks were/are down pretty big this am.
SNAP Chat is off about $14/share(was $74). I wonder if this has anything to do with it.
HE’S BACK media summons propaganda writers.
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