DWAC, the Trump Social-Media SPAC, Surges: What to Know
- Thread starter kmiklas
- Start date
Boy, those were the days.
Perfectly inline with the type of volatility in a meme stockPresident Meme not having another good day:-
38.98 -5.87 (-13.09%)
As of 1:36PM EST.
Go up on hot air (lots of hot air) will come crashing down soon enough.
Meme stocks are hot air
GME is the most. It should be at $10...but the to the moon people will not sell
Trump Social Media Venture Soars: In Talks Over $1 Billion Raise At Much Higher Valuation
Markets may be crashing, but not every stocks is getting smashed into the close and one notable outlier is blank check firm Digital World Acquisition Corp (ticker DWAC) better known as Donald Trump's new social media venture, which according to a late day report from Reuters is seeking to raise up to $1 billion in a PIPE deal by selling shares to hedge funds and family offices at several times the valuation it commanded in a deal with a blank-check acquisition firm in October.
While the original deal from September valued Trump Media at $875 million, including debt, just two months later the company is seeking to raise up to an additional $1 billion at a valuation of close to $3 billion, to reflect Digital World's share rally after Trump supporters and day traders snapped up the stock. Indicatively, DWAC's market cap closed at $1.8 billion today.
The proposed deal is the clearest indication yet that the dealmakers behind Trump Media & Technology Group - which has yet to roll out the social media app it says it is developing - are seeking to capitalize on the market euphoria around their venture, which has so far been fueled by its ambitious goals rather than a business that is up and running.
Markets may be crashing, but not every stocks is getting smashed into the close and one notable outlier is blank check firm Digital World Acquisition Corp (ticker DWAC) better known as Donald Trump's new social media venture, which according to a late day report from Reuters is seeking to raise up to $1 billion in a PIPE deal by selling shares to hedge funds and family offices at several times the valuation it commanded in a deal with a blank-check acquisition firm in October.
While the original deal from September valued Trump Media at $875 million, including debt, just two months later the company is seeking to raise up to an additional $1 billion at a valuation of close to $3 billion, to reflect Digital World's share rally after Trump supporters and day traders snapped up the stock. Indicatively, DWAC's market cap closed at $1.8 billion today.
The proposed deal is the clearest indication yet that the dealmakers behind Trump Media & Technology Group - which has yet to roll out the social media app it says it is developing - are seeking to capitalize on the market euphoria around their venture, which has so far been fueled by its ambitious goals rather than a business that is up and running.
That's how the cut & paste displays.
And this is how edit works. Click T (with up/down arrow at top post box) to change font size.
4 seems to be regular size.