Trump SPAC 📈

Trump SPAC

Guess what? Donald Trump is back in the news, and in high fashion too. If you don’t remember the last spell of Trump in the news, the January 6th insurrection happened and as a result, social media companies such as Twitter and Facebook banned Trump from their apps. This mattered a lot as Trump used these platforms heavily to communicate to his voter base, and he often posted some very controversial things there. Ever since, he’s tried to place some form of communication method, one being a daily blog on a specially curated website that ended up failing.

For now, though, he won’t be failing anymore, and that’s because he has now entered the stock market through a SPAC. Yes, SPACs, those IPO-like investment vehicles that were red hot at the beginning of 2020 but have fallen off since. The Trump Media and Technology Group announced that they would merge with SPAC Digital World Acquisition Corp., an under the radar SPAC that just got into the limelight today. Yesterday, it was valued at around 9 dollars, and today the price has skyrocketed to 40 dollars, marking the largest increase in a SPAC’s first day performance when a merger has occurred. DWAC was the most traded ticker on Thursday, and its movements resembled meme stocks, which was likely a major factor. Why wouldn’t meme investors buy Donald Trump’s SPAC, right? Trump’s goal is to raise enough money through the SPAC to create a new social media app called TRUTH Social, which they say will fight the tyranny of Big Tech and allow voices to be heard without being cancelled. Along with social media, they plan to create a news network that will rival giants like CNN and Fox. The SPAC deal values the Trump company at $875 million, and that number will surely rise. This marks a monumental turn in the Trump era as the app is protected by Section 230, which is ironic as Trump was trying to remove that act in his time as President. There have been many right-wing Twitter copies, which is getting people to believe that this will be an utter failure, but we just witnessed what happened in the market, and Trump’s direct backing of this is too powerful. It’s possible to say that this opens the campaign trail for 2024, but only time will tell. What do you think about the Trump SPAC?

I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.

Share:
More Posts
The New Chip 💻

AMD has unveiled an AI-focused graphics processor, aiming to challenge Nvidia’s dominance.

Get your daily Invstr Crunch

Get the market news and updates you need, delivered to your inbox or available on our daily podcast.

Risk Disclosure:

Invstr is not a bank and banking services are provided by Vast Bank, N.A.

Brokerage and Banking services are currently only available to U.S. residents.

Invstr app and web services are provided by Invstr Ltd. Advisory services are provided by Invstr Financial LLC, an investment adviser registered with the Securities Exchange Commission (SEC) details of which can be obtained here. Securities brokerage and custody services are provided by Apex Clearing, a broker dealer registered with the SEC and a member of FINRA and SIPC. There is no bank guarantee on securities and securities may lose value.

Investing involves risk and can lead to losses. Past performance does not guarantee future results.

Invstr app and web services are provided by Invstr Ltd. Invstr+ advisory services are provided by Invstr Financial LLC, an investment adviser registered with the Securities Exchange Commission (SEC). Securities brokerage and custody services are provided by Apex Clearing, a broker dealer registered with the SEC and a member of FINRA and SIPC. There is no bank guarantee on securities and securities may lose value. Vast Bank N.A. a nationally chartered bank and member of the FDIC, provides the banking products, including the products and services related to digital asset accounts. As with any asset, the value of Digital assets can go up or down and there can be a substantial risk that you lose money buying or holding digital assets. You should carefully consider whether trading or holding Digital assets is suitable for you in light of your financial condition. Your digital account does not support wallet to wallet transferring of your digital assets (i.e. cryptocurrencies) outside the platform. Any Digital Assets in your digital asset account are not insured by any government entities, including but not limited to FDIC or SIPC. The Invstr Visa® Debit Card is issued by Vast Bank, N.A. pursuant to a license from Visa U.S.A Inc and may be used everywhere Visa debit cards are accepted. Invstr Ltd, Invstr Financial LLC and Invstr Securities Ltd are subsidiaries of Marketspringpad Holdings (collectively “Invstr”) and Invstr is solely responsible for the application services and website content.

Watchlists provided when users first access the service are not a recommendation to invest. Instead they are provided to help users better navigate the service. Users are free to edit and create their own watchlists. From time to time, Invstr will suggest instruments solely based on an individual’s interest and the interest levels of the Invstr community. The statistical and portfolio builder models generated by Invstr do not reflect actual investment results and are not guarantees of future results. Comments provided by Invstr leaders, influencers or members of the Invstr Community are not recommendations and should not be construed as such. Invstr does not endorse the content or the positions posted by them. Their investment approach, and that of the models provided by Invstr, may be different from yours and may not be appropriate for you.