⚡️President Trump’s Social Media Venture Becomes Best-Performing SPAC Ever!
Shares in Digital World Acquisition Corporation (DWAC), the company connected to a planned social media app backed by President Donald Trump, have rallied to become the best-performing special-purpose acquisition company (SPAC) stock ever, according to SPAC Research.
In October, Trump announced plans to launch a new media company that will “stand up to the tyranny of Big Tech," and last week DWAC shares ended trading at $73.12 on Friday, way above their $10 initial public offering price. That infers a valuation on the combined entity of close to $13 billion, including debt.
SPACs regularly come under regulatory scrutiny. DWAC disclosed in December that federal regulators have opened investigations into the planned merger for potential violations of securities laws around disclosure.
###
https://t.me/georgenews | @GEORGENEWS