Record High Stock Performance for Digital World Acquisition Corp. following Merger with Trump Media & Technology Group

Truth Social, owned by Trump Media & Technology, sees massive stock surge on debut

Digital World Acquisition Corp.’s (DWAC) stock price soared by over 30% on its first day of trading after merging with Trump Media & Technology Group. The newly formed company, which will operate under the ticker “DJT,” attracted significant market attention following months of delays due to Securities and Exchange Commission investigations.

On Monday, DWAC shareholders approved the merger, and the surge in demand for the company’s shares was evident when DWAC stock reached a high of 59% at $79.38 in the first half hour of trading on Tuesday. The momentum continued throughout the day, with DWAC’s stock price reaching a record high of $69.10 by 11:20 a.m. ET, an increase of 38%.

The merger between DWAC and Trump Media was initially proposed in October 2021 but faced delays as regulators investigated potential misrepresentation of talks between DWAC and Trump Media prior to the public offering. Despite these challenges, no changes have been announced to the merger terms, including a six-month lock-up period preventing major shareholders like former President Donald Trump from selling their shares.

Some observers see this move as a means for Trump Media to boost its finances amidst mounting legal fees and penalties that could continue to mount in future legal battles involving President Trump.

The merger is expected to bring significant benefits to both companies, including increased market presence and access to new resources for growth and expansion.

Overall, the successful merger between DWAC and Trump Media has generated excitement in the market, with investors eagerly awaiting further developments from this newly formed company.

It remains to be seen how this move will affect President Trump’s future legal battles but one thing is certain; he now has more financial resources at his disposal than ever before.

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