On Thursday, October 21, it was announced that TMTG (Trump Media and Technology Group) would be going public in the stock market via the SPAC process. A SPAC is a special purpose acquisition company. Put simply SPAC’s are blank check companies that have become a popular way to list on stock exchanges.
DWAC (stock ticker) Digital World Acquisition Corp. is the company TMTG is using to go public. TMTG’s primary business will be to take on big tech companies and provide a platform without censorship.
This stock will likely be a huge momentum stock similar to Gamestop (GME) or AMC. On Thursday the stock rose a whopping 356%. If you want to invest you can join Robinhood and get a free stock when you sign up!
The social media app will be called Truth Social. It appears to be similar to Twitter and even takes some jabs at Twitter CEO Jack Dorsey in the app previews.
TMTG has big plans to take on a wide range of companies including Facebook, Twitter, Amazon, Apple, Netflix, and more. You can download the company overview below.