What will the Democrats do when they can no longer silence Donald Trump?
As enthusiasm for his new social media platform, TRUTH Social, grows and members begin signing up in record numbers, the ability of liberals to control the anti-Trump narrative severely diminishes. No longer will they be able to paint a ridiculous picture of the Former President or his supporters.
Not only have the American people expressed their excitement for TRUTH Social, but the market is head-over-heels for Trump’s foray into social media as well.
The share price of Digital World Acquisition Corp., the company launching Donald Trump’s new social media and entertainment venture, rose nearly 190% following the Former President’s announcement of his plans to develop the tech platform.
The company, listed on the NASDAQ stock exchange as DWAC, is a special purpose acquisition company (SPAC) that acts as a public shell corporation to acquire private companies and list them publicly on a stock exchange. The company entered into a merger agreement with Trump Media and Technology Group (TMTG) in order to raise public funding for Trump’s social media venture, according to a press release.
On Wednesday, Trump announced that he was launching a new social media platform called TRUTH Social intended to “fight back” against major tech companies that banned the former president earlier this year. The new venture will also include on-demand video entertainment and news services.
🚨President Donald J. Trump Announces Trump Media & Technology Group🚨
“I created TRUTH Social and TMTG to stand up to the tyranny of Big Tech…
I am excited to send out my first TRUTH on TRUTH Social very soon…” pic.twitter.com/TCZVYq1VJQ
— Liz Harrington (@realLizUSA) October 21, 2021
The DWAC stock rose nearly 190% following the former president’s announcement, reaching a share price of over $29 as of early afternoon Thursday. Trading of the stock was temporarily halted due to volatility, according to CNBC.
DWAC is currently the most traded stock listed on the NASDAQ, according to the exchange’s website.
The company was valued “at an initial enterprise value of $875 Million, with a potential additional earnout of $825 Million in additional shares (at the valuation they are granted) for a cumulative valuation of up to $1.7 Billion,” according to the press release announcing the new venture.
With this amount of market excitement, investors will rush to pump money into Trump’s social media venture. Coupled with massive consumer enthusiasm, there’s no telling how far this social media platform can go.
Did Trump create the next Twitter?
Author: Asa McCue