Why Donald Trump-Linked Digital World Is Trading Higher After Hours
Portfolio Pulse from Adam Eckert
Digital World Acquisition Corp (DWAC) has amended its merger agreement with Trump Media & Technology Group, extending the outside date to Dec. 31, 2023. The company also plans to create a new class of common stock called 'High Vote Common Stock'. This news led to a 4.82% increase in DWAC's after-hours trading.
August 09, 2023 | 9:40 pm
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POSITIVE IMPACT
The amendment of the merger agreement and the creation of a new class of common stock could potentially attract more investors, leading to a short-term increase in DWAC's stock price.
The extension of the merger agreement provides more time for the deal to be finalized, reducing uncertainty for investors. The creation of a new class of common stock could attract more investors who are interested in having more voting power. Both of these factors could lead to a short-term increase in DWAC's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100