What's Going On With Donald Trump-Linked Digital World Stock?
Portfolio Pulse from Adam Eckert
Digital World Acquisition Corp (DWAC) shares rose in after-hours trading following the announcement of Amendment No. 1 to its Form S-4 Registration Statement, which includes a preliminary proxy statement and prospectus for its proposed merger with Trump Media & Technology Group (TMTG), the entity behind Truth Social app. The filing is a significant step in the merger process, with both companies expressing optimism about the progress towards completing the business combination.
November 13, 2023 | 10:27 pm
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Digital World Acquisition Corp's stock rose after-hours due to the progress in its proposed merger with Trump Media & Technology Group, as indicated by the new S-4 filing.
The positive after-hours price movement for DWAC is directly related to the announcement of the S-4 filing, which is a crucial step in the merger process with TMTG. Investors are likely to view this progress as a positive sign for the completion of the merger, potentially leading to increased investor confidence and a short-term rise in stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100