{"id":1327054,"date":"2022-02-22T12:50:04","date_gmt":"2022-02-22T17:50:04","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1327054"},"modified":"2022-02-22T12:52:45","modified_gmt":"2022-02-22T17:52:45","slug":"shares-of-spac-merging-with-trumps-media-company-surge-on-debut-of-truth-social","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/shares-of-spac-merging-with-trumps-media-company-surge-on-debut-of-truth-social\/","title":{"rendered":"Shares of SPAC Merging With Trump\u2019s Media Company Surge on Debut of Truth Social"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">28<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fshares-of-spac-merging-with-trumps-media-company-surge-on-debut-of-truth-social%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1327054&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/imageio.forbes.com\/specials-images\/imageserve\/62151d571ba42f0f73c0952c\/0x0.jpg?format=jpg&#038;crop=3000,1688,x0,y170,safe&#038;fit=crop\" class=\"ff-og-image-inserted\" alt=\"image\" \/><\/div>\n<h2 class=\"topline-heading\">Topline<\/h2>\n<p>The share price of the company backing President Donald Trump&#8217;s new social media venture soared to start the trading day Tuesday, reaching its highest point since October in the first trading day since the rollout of <a href=\"https:\/\/www.forbes.com\/sites\/siladityaray\/2022\/02\/21\/donald-trumps-twitter-alternative-truth-social-launches-on-apple-app-store\/?sh=5eb5f0b47193\" target=\"_self\" class=\"color-link\" title=\"https:\/\/www.forbes.com\/sites\/siladityaray\/2022\/02\/21\/donald-trumps-twitter-alternative-truth-social-launches-on-apple-app-store\/?sh=5eb5f0b47193\" data-ga-track=\"InternalLink:https:\/\/www.forbes.com\/sites\/siladityaray\/2022\/02\/21\/donald-trumps-twitter-alternative-truth-social-launches-on-apple-app-store\/?sh=5eb5f0b47193\" aria-label=\"Trump&#039;s Truth Social platform\" rel=\"noopener\">Trump&#8217;s Truth Social platform<\/a> began.<\/p>\n<div class=\"article_paragraph_2\"><\/div>\n<h2>Key Facts<\/h2>\n<div class=\"key-facts\">\n<div class=\"key-facts-element\">\n<p>Shares of Digital World Acquisition Corp. (DWAC) reached an intraday high of $99 shortly after the markets opened Tuesday\u2014up more than 17% from Friday&#8217;s close.<\/p>\n<\/p><\/div>\n<div class=\"key-facts-element\">\n<p>DWAC, a special purpose acquisition company, plans to merge with a new firm called the Trump Media and Technology Group to take the media company public.<\/p>\n<\/p><\/div>\n<div class=\"key-facts-element\">\n<p>The prices early Tuesday were the highest the stock&#8217;s reached <a href=\"https:\/\/www.forbes.com\/sites\/nicholasreimann\/2021\/10\/21\/shares-of-spac-behind-trump-social-media-company-jump-400\/?sh=637710ac4bf0\" target=\"_self\" class=\"color-link\" title=\"https:\/\/www.forbes.com\/sites\/nicholasreimann\/2021\/10\/21\/shares-of-spac-behind-trump-social-media-company-jump-400\/?sh=637710ac4bf0\" data-ga-track=\"InternalLink:https:\/\/www.forbes.com\/sites\/nicholasreimann\/2021\/10\/21\/shares-of-spac-behind-trump-social-media-company-jump-400\/?sh=637710ac4bf0\" aria-label=\"since an October frenzy\" rel=\"noopener\">since an October frenzy<\/a>, where the stock traded for as much as $175 after plans were announced for Trump&#8217;s new social media platform and the merger.<\/p>\n<div class=\"vestpocket\"><\/div>\n<\/p><\/div>\n<div class=\"key-facts-element\">\n<p>The share price cooled a bit early Tuesday afternoon to around $91, which was still up more than 7% from Friday while the S&#038;P 500 traded lower.<\/p>\n<\/p><\/div>\n<\/div>\n<h2 class=\"subhead-embed color-accent bg-base font-accent font-size text-align\">Key Background<\/h2>\n<p>Trump&#8217;s long-awaited social media platform went online Monday in a glitch-filled launch, which doesn&#8217;t appear to have resolved yet. Many trying to sign up for the app were put on a waitlist that had grown to more than 400,000 by Tuesday morning, while others were stymied by constant error messages. A source with knowledge of the rollout told <a href=\"https:\/\/www.foxbusiness.com\/politics\/trumps-truth-social-to-begin-welcoming-americans-who-pre-ordered-the-app-monday\" target=\"_blank\" class=\"color-link\" title=\"https:\/\/www.foxbusiness.com\/politics\/trumps-truth-social-to-begin-welcoming-americans-who-pre-ordered-the-app-monday\" rel=\"nofollow noopener noreferrer\" data-ga-track=\"ExternalLink:https:\/\/www.foxbusiness.com\/politics\/trumps-truth-social-to-begin-welcoming-americans-who-pre-ordered-the-app-monday\" aria-label=\"Fox Business\">Fox Business<\/a> the platform plans to take 10 days to populate itself with those who pre-ordered the app, which will become fully operational by the end of the quarter.<\/p>\n<h2 class=\"subhead-embed color-accent bg-base font-accent font-size text-align\">Surprising Fact<\/h2>\n<p>Several prominent right-wing figures, including Fox News host Sean Hannity and Rep. Marjorie Taylor Greene (R-Ga.) were able to access the platform <a href=\"https:\/\/www.forbes.com\/sites\/nicholasreimann\/2022\/02\/21\/sean-hannity-marjorie-taylor-greene-join-trumps-new-app-truth-social-as-public-struggles-to-sign-up-for-platform\/?sh=17b86abd22da\" target=\"_self\" class=\"color-link\" title=\"https:\/\/www.forbes.com\/sites\/nicholasreimann\/2022\/02\/21\/sean-hannity-marjorie-taylor-greene-join-trumps-new-app-truth-social-as-public-struggles-to-sign-up-for-platform\/?sh=17b86abd22da\" data-ga-track=\"InternalLink:https:\/\/www.forbes.com\/sites\/nicholasreimann\/2022\/02\/21\/sean-hannity-marjorie-taylor-greene-join-trumps-new-app-truth-social-as-public-struggles-to-sign-up-for-platform\/?sh=17b86abd22da\" aria-label=\"immediately after it launched\" rel=\"noopener\">immediately after it launched<\/a>.<\/p>\n<h2 class=\"subhead-embed color-accent bg-base font-accent font-size text-align\">What To Watch For<\/h2>\n<p>DWAC is under investigation by the Securities and Exchange Commission. According to the <a href=\"https:\/\/www.nytimes.com\/2022\/02\/18\/business\/trumps-truth-social.html\" target=\"_blank\" class=\"color-link\" title=\"https:\/\/www.nytimes.com\/2022\/02\/18\/business\/trumps-truth-social.html\" rel=\"nofollow noopener noreferrer\" data-ga-track=\"ExternalLink:https:\/\/www.nytimes.com\/2022\/02\/18\/business\/trumps-truth-social.html\" aria-label=\"New York Times\"><em data-ga-track=\"ExternalLink:https:\/\/www.nytimes.com\/2022\/02\/18\/business\/trumps-truth-social.html\">New York Times<\/em><\/a>, regulators are reviewing whether the company illegally held talks with Trump before it went public in September.\u00a0<\/p>\n<div class=\"article_paragraph_7\"><\/div>\n<div class=\"topline_newsletter_container\"><\/div>\n<h2 class=\"subhead-embed color-accent bg-base font-accent font-size text-align\">Further Reading<\/h2>\n<p><a href=\"https:\/\/www.forbes.com\/sites\/siladityaray\/2022\/02\/21\/donald-trumps-twitter-alternative-truth-social-launches-on-apple-app-store\/?sh=5eb5f0b47193\" target=\"_self\" class=\"color-link\" title=\"https:\/\/www.forbes.com\/sites\/siladityaray\/2022\/02\/21\/donald-trumps-twitter-alternative-truth-social-launches-on-apple-app-store\/?sh=5eb5f0b47193\" data-ga-track=\"InternalLink:https:\/\/www.forbes.com\/sites\/siladityaray\/2022\/02\/21\/donald-trumps-twitter-alternative-truth-social-launches-on-apple-app-store\/?sh=5eb5f0b47193\" aria-label=\"Glitchy Start For Trump\u2019s \u2018Truth Social\u2019 App As Thousands End Up On Waitlist\" rel=\"noopener\">Glitchy Start For Trump\u2019s \u2018Truth Social\u2019 App As Thousands End Up On Waitlist<\/a> (Forbes)<\/p>\n<p><a href=\"https:\/\/www.forbes.com\/sites\/nicholasreimann\/2021\/10\/21\/shares-of-spac-behind-trump-social-media-company-jump-400\/?sh=637710ac4bf0\" target=\"_self\" class=\"color-link\" title=\"https:\/\/www.forbes.com\/sites\/nicholasreimann\/2021\/10\/21\/shares-of-spac-behind-trump-social-media-company-jump-400\/?sh=637710ac4bf0\" data-ga-track=\"InternalLink:https:\/\/www.forbes.com\/sites\/nicholasreimann\/2021\/10\/21\/shares-of-spac-behind-trump-social-media-company-jump-400\/?sh=637710ac4bf0\" aria-label=\"Shares Of SPAC Behind Trump Social Media Company Jump 400%\" rel=\"noopener\">Shares Of SPAC Behind Trump Social Media Company Jump 400%<\/a> (Forbes)<\/p>\n<p><a href=\"https:\/\/www.forbes.com\/sites\/nicholasreimann\/2022\/02\/21\/sean-hannity-marjorie-taylor-greene-join-trumps-new-app-truth-social-as-public-struggles-to-sign-up-for-platform\/?sh=17b86abd22da\" target=\"_self\" class=\"color-link\" title=\"https:\/\/www.forbes.com\/sites\/nicholasreimann\/2022\/02\/21\/sean-hannity-marjorie-taylor-greene-join-trumps-new-app-truth-social-as-public-struggles-to-sign-up-for-platform\/?sh=17b86abd22da\" data-ga-track=\"InternalLink:https:\/\/www.forbes.com\/sites\/nicholasreimann\/2022\/02\/21\/sean-hannity-marjorie-taylor-greene-join-trumps-new-app-truth-social-as-public-struggles-to-sign-up-for-platform\/?sh=17b86abd22da\" aria-label=\"Sean Hannity, Marjorie Taylor Greene Join Trump\u2019s New App Truth Social As Public Struggles To Sign Up For Platform\" rel=\"noopener\">Sean Hannity, Marjorie Taylor Greene Join Trump\u2019s New App Truth Social As Public Struggles To Sign Up For Platform<\/a> (Forbes)<\/p>\n<div class=\"newsletter_signup_article\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>ToplineThe share price of the company backing President Donald Trump&#8217;s new social media venture soared to start the trading day Tuesday, reaching its highest point since October in the first<\/p>\n","protected":false},"author":1,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1327054","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1327054","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1327054"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1327054\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1327054"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1327054"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1327054"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}