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DWAC - Digital World Acquisition Corp. Cl A

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  1. Winstpakker 24 oktober 2021 08:32
    Bloomberg
    Love Him or Hate Him, Retail Traders Are Buying the Trump-Tied SPAC
    The potential for profits is making investors look past the former president’s polarizing politics and cash in on a skyrocketing blank-check company. Retail traders are putting aside politics for profits when it comes to former U.S. President Donald Trump.

    Popular haunts of individual investors such as Reddit and StockTwits lit up this week with news that blank-check company Digital World Acquisition Corp. will merge with Trump Media & Technology Group. The SPAC, which trades under the ticker DWAC, had rocketed up more than 1,200% since Wednesday, with outsize volatility triggering at least 12 trading halts on Friday.

    Yahoo finance
    Dow Jones Futures: Apple, Microsoft Lead 7 Stocks In Earnings Wave; Will Trump Stock DWAC Keep Rising?
    Trump SPAC Stock
    Meanwhile, expect Donald Trump's SPAC to remain hotly traded this week. Digital World Acquisition (DWAC) exploded 357% Thursday on news that it would be the SPAC merger partner for Donald Trump's new social media venture. DWAC stock then shot up 107% to 94.20 on Friday. But it closed far below Friday morning's peak of 175, though not at session lows.

    DWAC stock fell 14% in active trading Friday night.

    Could DWAC stock go higher? Absolutely. But it could also plunge. Without a proper entry or any fundamentals, buying any meme stocks is fraught with peril. The political dimension potentially could give a Trump stock more staying power, but that thinking presumably helped turbocharge DWAC stock on Thursday and Friday.

    Meme stocks can skyrocket, getting everyone's attention. But on the second day of "everybody talking about it," more-recent meme stocks have tended to peak.

    In the meantime — "meme time? — DWAC stock may be sucking up the oxygen from "traditional" meme stocks such as GameStop (GME) and AMC Entertainment (AMC). Both AMC stock and GME stock fell nearly 7% on Friday as DWAC stock got the attention.
  2. Winstpakker 24 oktober 2021 08:35
    Anthony Scaramucci is rooting for DWAC because he thinks it will keep Donald Trump from running in 2024
    Last Updated: Oct. 22, 2021 at 6:35 p.m. ET
    Scaramucci, who worked under Trump for 10 days in 2017 as communications director, thinks Trump’s SPAC could prevent him from running for office in 2024
    Former White House Communications Director Anthony Scaramucci says he is hoping that the Special Purpose Acquisition Company (SPAC) merging with an entity called Trump Media & Technology Group will keep Trump from running for president in 2024.

    “I want that thing to go up like another 10 times. The more it goes up, the less likelihood Donald Trump is running for president in 2024, so I’m rooting for that SPAC,” Scaramucci told CNBC on Friday.

    The SPAC, Digital World Acquisition Corp. DWAC, +107.03%, is headed for a weekly gain of 1,345%, and shares of Phunware Inc. PHUN, +471.24%, an advertising startup that has been associated with the Trump in the past, surged over 600% on Friday.

    See also: For one day, SPACs don’t feel whack, thanks to WeWork and Trump’s DWAC

    The Trump Media and Technology Group aims to rival “‘Big Tech’ companies of Silicon Valley, which have used their unilateral power to silence opposing voices in America,” according to its pitch deck.

    “I want the guy as far away from politics as possible and I want that once great party to rebuild itself,” Scaramucci went on to say.

    Scaramucci has previously worked at Goldman Sachs GS, +1.65% and currently runs a global investment firm called SkyBridge Capital.
  3. Winstpakker 24 oktober 2021 08:36
    Trump gaat in zee met bedrijf: aandeel schiet 1.225 procent hoger
    GELDEen bedrijf dat met voormalig Amerikaans president Donald Trump in zee gaat, is plots geliefd bij beleggers. Het gaat om Digital World Acquisition Corp (DWAC), een blancochequebedrijf dat wil fuseren met het sociale netwerk dat Trump wil oprichten. De koers schoot op twee dagen 1.225 procent omhoog. Trump-fans stoken elkaar op om het aandeel te kopen.
    Die opmerkelijke stijging heeft alles te maken met de plannen van Trump om zijn eigen sociaal netwerk ‘TRUTH Social’ te creëren. Het netwerk wordt begin november gelanceerd en is in eerste instantie alleen voor genodigden. Het is eigendom van het bedrijf Trump Media & Technology Group (TMTG).
    Trump wil het bedrijf TMTG naar de beurs brengen door middel van een SPAC. Dat is een vennootschap die is opgericht met als enige doel kapitaal op te halen op de beurs, om vervolgens gericht op zoek te gaan naar één specifiek overnamedoelwit om daarmee een fusie aan te gaan. In dit geval zal Digital World Acquisition Corp (DWAC) een fusie aangaan met Trump Media & Technology Group (TMTG).

    Dat nieuws zorgde ervoor dat de handel in aandelen van DWAC explodeerde op de Amerikaanse technologiebeurs Nasdaq. Gisteren al werd de handel een tijdje opgeschort. Het aandeel sloot donderdag af met een winst van 357 procent.

    Vrijdagochtend moest de handel opnieuw verschillende keren opgeschort worden. Om 10u22 lokale tijd (16u22 Belgische tijd), noteerde het aandeel op 99 dollar. Woensdagavond was dat nog maar iets meer dan 10 dollar. Daarmee wordt de totale beurswaarde van het bedrijf geschat op 3,2 miljard dollar.

    Trump-fans op Reddit
    Volgens De Tijd stoken Trump-fans elkaar op gespecialiseerde sociale media-kanalen zoals Reddit en StockTwits op om het aandeel te kopen.

    De spectaculaire opmars van het DWAC-aandeel bewijst de honger van investeerders naar het project van de voormalige Amerikaanse president, die van Facebook, Twitter en YouTube werd geweerd omdat hij volgens deze platformen zijn aanhangers had aangezet tot geweld.
  4. Winstpakker 24 oktober 2021 08:41
    DWAC, the Trump Social-Media SPAC, Surges: What to Know
    The firm is promoting itself as having a large market opportunity in presenting an alternative to what it views as the liberal-minded media establishment
    By Liz Hoffman
    Oct. 22, 2021 12:09 pm ET
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    What is DWAC?
    Digital World Acquisition Corp. DWAC 107.03% is a special-purpose acquisition company, or SPAC. It is essentially a pot of money raised from investors with the intention of finding a private company to buy. In this case, DWAC completed its initial public offering in September.

    Hundreds of SPACs have been launched in the past two years, tapping into two market trends: investor enthusiasm to buy anything, and a flood of private startups looking to hit the public markets.

    Why is DWAC going crazy?
    This SPAC was up sharply from its listing price earlier Friday. The stock is surging in part because it is linked to one of the major figures on social media, former President Donald Trump, and this seems to have spurred a wave of individual-investor interest. The firm is also promoting itself as having a large market opportunity in presenting an alternative to what it views as the liberal-minded media establishment.

    How is Donald Trump involved?
    Unclear. He is listed as chairman (a notoriously vague corporate title) of Trump Media & Technology Group, the newly formed company that is merging with DWAC and that has plans to launch a conservative-leaning social network called Truth Social.
    While plenty of well-known corporate and political insiders have launched SPACs, such as former Goldman Sachs Group Inc. President Gary Cohn and former Honeywell International Inc. Chief Executive Dave Cote, Patrick Orlando isn’t among them. According to securities filings he is the chief executive of Benessere Capital, a Miami investment firm he founded in 2012. His first SPAC, Yunhong International, went public earlier this year and signed a deal to acquire energy transportation solutions company Giga Energy, but that deal was called off in September.

    What is Truth Social?
    The Twitter -like platform—users can post “truths” and “re-truths”—is one leg of a planned media empire that would compete with the likes of Netflix and CNN, according to a company presentation this week. The presentation doesn’t make it clear when the planned platform would go live.
  5. Winstpakker 24 oktober 2021 08:45
    Trump’s Tech SPAC Could Make Him Billions With Meme-Stock Frenzy
    By Sophie Alexander, Tom Maloney, and Crystal Kim
    23 oktober 2021 14:15 CEST
    Donald Trump’s sagging fortune is suddenly poised to get a massive boost from meme-stock mania.

    News late Wednesday that the former president’s nascent media enterprise, Trump Media & Technology Group, is planning to go public via a special purpose acquisition company has sent retail investors into a frenzy, even with few details released. The stock gain drove the implied value of the new venture to more than $8.2 billion.
    Based on figures from press releases and filings to the Securities and Exchange Commission, it appears Trump will own more than 50% of the combined company. At its current value, that would make him the richest he’s ever been, up from his estimated net worth now of $2.5 billion, according to the Bloomberg Billionaires Index.
    In the roller-coaster world of Reddit-fueled trading and grandiose SPAC hype, those gains are hardly firm. But the money betting on a Trump media conglomerate marks a sharp turnaround for a post-presidency that hasn’t been kind to the billionaire’s business empire.

    His Washington hotel, which was first put on the market in 2019, is still for sale, while the flagship midtown Manhattan tower that bears his name has growing vacancies. This summer, the chief financial officer of the Trump Organization was charged with tax fraud. Trump’s net worth has declined by about $500 million since he entered the White House, with the pandemic and fallout from January’s Capitol riot delivering added blows to his business interests.

    Now comes the arrival of the social-media outlet that Trump, the leader in polls for the GOP presidential nomination in 2024, has been teasing at for some time. There are many reasons to be skeptical of the valuation. It will be months before the new venture publicly releases its first product, a social-media platform called Truth Social. And there are already technical issues. On Thursday, the Truth Social page was hacked to make it appear that Trump shared a photo of a defecating pig.

    It’s also unclear how Trump plans to build a social-media platform on the scale of Twitter over the next few months, let alone a streaming service, which is the next phase of Trump Media’s plans, according to the press release announcing the company. That statement was light on numbers even by SPAC standards.

    “We have no financials. We have no business plan. We don’t know how they got to the valuation. We have no information,” said Kristi Marvin, chief executive of research firm SPAC Insider. “That’s the fundamental problem.
  6. Winstpakker 24 oktober 2021 08:48
    Trump media SPAC stock doubles, bringing 2-day gains to 800% in retail-trading frenzy
    PUBLISHED FRI, OCT 22 20218:27 AM EDTUPDATED FRI, OCT 22 20214:04 PM EDT
    Yun Li
    @YUNLI626
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    KEY POINTS
    Digital World Acquisition Corp., the SPAC that is taking former President Trump’s planned social media platform public, soared Friday following a massive rally in the previous session.
    The SPAC, which trades under the ticker DWAC on the Nasdaq, jumped more than 100%.
    The ticker was among the most popular mentions on Reddit’s WallStreetBets, which indicated that DWAC could be having a meme stock moment like GameStop and AMC.
    Phunware, the advertising software startup involved with Trump’s 2020 reelection campaign, jumped in unison with DWAC.
    In this article

    PHUN
    -2.11 (-24.14%)
    After Hours

    DWAC
    -13.50 (-14.33%)
    After Hours

    WATCH NOW
    VIDEO03:02
    SPAC that plans to take Trump’s social media company public sees shares soar
    Digital World Acquisition Corp., the SPAC that is taking former President Donald Trump’s planned social media platform public, soared for a second day Friday as retail traders continued to pile in.

    The SPAC, which trades under the ticker DWAC on the Nasdaq, skyrocketed 284% at one point and closed up 107% at $94.2 a share. Trading in the stock was halted due to volatility multiple times. Friday’s rally brought the SPAC’s two-day gains to more than 800%.

    Trump-linked SPAC soars

    WATCHLIST
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    The Trump effect wasn’t limited to DWAC.

    ADVERTENTIE

    Phunware, the advertising software startup involved with Trump’s 2020 reelection campaign, jumped in unison with DWAC. The stock rallied whopping 471% to $8.74 per share Friday, bringing its gains this week to nearly 750%. There was no indication DWAC and Phunware have a business relationship.

    Phunware didn’t immediately respond to CNBC’s request for comment.

    SPAC stands for special purpose acquisition company, which raises money on the public markets with a goal of merging with a private company and taking it public within two years. Investors typically have no clue what the target company will be when the SPAC debuts and trades on the stock exchange.

    Signs emerged that small-time retail investors could be behind the monstrous rally in the SPAC. On Thursday, DWAC the single most actively traded stock on Fidelity’s brokerage platform. Meanwhile, the ticker was among the most popular mentions on Reddit’s WallStreetBets. The SPAC was also a trending topic on Twitter, which indicated that DWAC could be having a meme stock moment like GameStop and AMC.

    One top post on the WallStreetBets message board Friday morning featured what appeared to be the user’s equity portfolio, touting daily gains of over $10,000 from betting on the SPAC. The post, which called the former president “Daddy Trump,” quickly drew more than 800 comments.

    WATCH NOW
    VIDEO02:06
    Anthony Scaramucci weighs in on Trump-linked SPAC
    The new company, the yet-to-be-launched Trump Media & Technology Group, said its “mission is to create a rival to the liberal media consortium and fight back against the ‘Big Tech’ companies of Silicon Valley, which have used their unilateral power to silence opposing voices in America.”

    The move came after Trump got banned by social media giants Twitter and Facebook since early this year after he was accused of inciting the Jan. 6 Capitol riot by a mob of his supporters. The violence interrupted the confirmation of Trump’s Electoral College loss to President Joe Biden.

    Warrants in the SPAC, which trade under the ticker DWACW, also experienced outsized trading volume on Thursday. Warrants are a deal sweetener that offers early investors more compensation for their cash. They are contracts that give the holder the right to purchase additional shares in the future at a certain price.
  7. forum rang 7 wiegveld 24 oktober 2021 09:28
    Memestock mania dankzij the Donald.

    www.investors.com/market-trend/stock-...

    Koersbeweging. Vrijdag tussen de 69-175$!
    Slot was 94 en daarna after hours gedaald naar 80,65$.
    gaat nergens over en dat alles alleen op de naam Donald. Over zijn nieuwe twitter is niets bekend dan geruchten.
  8. Winstpakker 24 oktober 2021 12:39
    Day traders and Reddit are loving Trump's new media company
    BRIGID KENNEDY
    OCTOBER 22, 2021
    Donald Trump.
    Sean Rayford/Getty Images
    It's a bird, it's a plane, it's...possibly another meme stock?

    Digital World Acquisition, the special-purpose acquisition company (SPAC) now tied to the latest media and technology venture of former President Donald Trump, saw its stock soar Friday morning, "triggering a halt for volatility" after quadrupling on Thursday, Bloomberg reports.

    The ticker by which the SPAC trades — DWAC — was "was among the most popular mentions on Reddit's WallStreetBets, which indicated that DWAC could be having a meme stock moment like GameStop and AMC," writes CNBC. DWAC was the "single most actively traded stock" on Fidelity's brokerage platform on Thursday, with fans of the ex-president pumping the stock online, per Bloomberg.

    SPACs work by going public and raising money from investors first, only to then find a private company to merge with, explains The New York Times. Consequently, investors that back a SPAC initially "have no clue" who a merger partner will turn out to be. That means some of DWAC's big investors were likely unaware they were supporting Trump Media and Technology Group until a deal was reached to merge the two companies on Wednesday.

    Since that announcement, shares of DWAC have proved "a hit" with day traders, skyrocketing 1,225%, writes Bloomberg. Its price "nearly tripled" to $131.90 when the market opened Friday morning.

    The ex-president hopes the deal — which values his media company at about $875 million, including debt — gives him enough cash to launch a new social media app in 2022 dubbed TRUTH Social, whose purpose is "to create a rival to the liberal media consortium and fight back against the 'Big Tech' companies of Silicon Valley." Unfortunately for him, however, it looks like some hackers have already started that war's first battle.
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