Shares of Digital World Acquisition (DWAC.O), the blank check firm set to take former U.S. President Donald Trump’s social media platform public, rose on Tuesday following his victory in the first Republican contest in Iowa for 2024 presidential race. The stock rose 15% to $19.76 as the win strengthened Trump’s case that his nomination is a foregone conclusion given his massive lead in the national polls. Digital World Acquisition was the top trending ticker on investor-focused social media site stocktwits.com, indicating chatter among retail traders.
“Love him or hate him, drama follows him, and the (Digital World) deal is no different,” said Matthew Tuttle, CEO at Tuttle Capital Management.
Digital World shares have lost over 93% of their value in the past 12 months as the company’s merger with Trump Media & Technology Group, parent of social media platform Truth Social, faced multiple delays since it was announced in October 2021.
I dont know shit about the market but it really seems like now is the time to start shorting those stocks hard. Once the NY trial ends and his businesses implode you won’t be able to give those stocks away