Trump's new social media company looks like a meme stock [Yahoo! Finance]
Digital World Acquisition Corp. - Units (DWACU)
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Source: Yahoo! Finance
The firm's value soared when it went public on March 26, with the stock up more than 40% on the day. Trump's ownership stake could fetch more than $4 billion DJT is basically a meme stock , a kind of viral sensation that attracts investor interest beyond what the company's fundamentals would ordinarily suggest. That obviously stems from Trump's notoriety and the fervent belief some supporters have in his “make America great again” crusade. The Trump company, which went public through a merger with Digital World Acquisition Corp. ( DWAC ), a special-purpose vehicle that's been trading since 2021, has little revenue and lost $41 million during the last two years, according to S&P Capital IQ. Many buyers pushing up the stock price have been individual investors expressing loyalty to Trump himself But many investors are betting the Trump venture will flop. “There is huuuuge conviction (Trump pun intended) that there will be a significant decline in the stock price in the short term,
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