What's Going On With Digital World Acquisition Stock?
Portfolio Pulse from Erica Kollmann
Digital World Acquisition Corp. (NASDAQ:DWAC) shares are trading higher as shareholders vote on a merger with Trump Media & Technology Group (TMTG). If approved, TMTG will become a subsidiary of Digital World, which will then change its name to Trump Media & Technology Group Corp. Trump could gain ownership of 127.5 million shares, valued at approximately $5.6 billion. Trump's legal challenges, including a New York civil fraud case, are also highlighted. DWAC shares are up 12% at $47.97.
March 22, 2024 | 2:16 pm
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Digital World Acquisition Corp. (DWAC) is voting on a merger with Trump Media & Technology Group, potentially changing its name and ownership structure. Shares are up 12% at $47.97.
The potential merger with Trump Media & Technology Group is a significant event for DWAC, likely to influence its stock price positively in the short term due to the increased interest and speculative trading. The 12% rise in share price reflects market optimism about the merger's approval. However, Trump's legal challenges could introduce volatility.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100