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Digital World Acquisition Corp. (DWAC), founded in 2021, was an American special-purpose acquisition company (SPAC), a shell corporation listed on a stock exchange with the purpose of acquiring (or merging with) a private company, thus making the private company public without going through the initial public offering process, which often carries significant procedural and regulatory burdens.
The vote by DWAC shareholders comes about 2½ years after the so-called special purpose acquisition company announced plans to merge with Trump Media & Technology Group, the private firm that owns ...
The soon-to-be Trump Media and Technology company is up 13% today for a surprisingly strong start to the week. DWAC stock is on the up and up of late as the conservative media movement continues ...
A November 2023 DWAC financial disclosure expressed substantial doubt about TMTG's ability to meet its financial obligations, showing a $31.5 million loss since inception. [ 26 ] [ 27 ] [ 28 ] On November 21, 2023, TMTG filed a lawsuit seeking $1.5 billion in damages from 20 media outlets for falsely reporting a $73 million loss.
DWAC shares ended trading on Thursday up 4.4% at $47.66 on the news. They are up almost threefold since Jan. 15 -- when Trump won the Iowa caucus on his way to the Republican nomination for ...
DWAC shares were trading for just over $49.50 on Friday morning, putting the value of that stake at roughly $4 billion. (Lock-up rules would prevent him from accessing any of that money until six ...
At one point, shares of DWAC jumped more than 800% amid a flurry of buying over two days as social media interest in the company peaked. Ines is a senior markets reporter covering stocks. Follow ...
Donald Trump's first day back on the public markets was a wild ride. Shares of Trump Media & Technology Group (), the parent company of Trump's social media platform Truth Social, rose 16% on ...