Biden Joining Trump's Truth Social Platform To Go 'Into The Lion's Den' To Point Out Hypocrisy Of Republicans, Share His Truth, Have Fun
Portfolio Pulse from Chris Katje
President Joe Biden has joined Truth Social, a social media platform owned by Trump Media & Technology Group (TMTG), which is in the process of merging with Digital World Acquisition Corporation (NASDAQ:DWAC). The move is seen as a strategy to directly engage with former President Donald Trump and his followers. Meanwhile, Trump continues to have a larger social media following than Biden, including on platforms owned by Meta Platforms (NASDAQ:META).
October 16, 2023 | 9:25 pm
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POSITIVE IMPACT
President Biden's joining of Truth Social could potentially increase the platform's visibility and user base, which may positively impact DWAC's stock in the short term.
The news of President Biden joining Truth Social could attract more users to the platform, thereby increasing its value. As DWAC is in the process of merging with TMTG, the parent company of Truth Social, this could potentially boost DWAC's stock price in the short term.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
Despite Biden's move to Truth Social, Trump continues to have a larger following on Meta-owned platforms, which could maintain the relevance of these platforms and potentially support META's stock.
While Biden's move to Truth Social is noteworthy, Trump's larger following on Meta-owned platforms like Facebook and Instagram could continue to maintain the relevance and user base of these platforms. This could potentially support META's stock in the short term.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 60