DWAC shareholders & Trump approve merger then fake news LONGDWAC voted to merge with former presidental Trump social media enterprise. Then a CNBC staff
writer has an article:
Donald Trump told followers, “I LOVE TRUTH SOCIAL” — but shareholders in the newly merged company that will own that social media app might not feel so great.
The shell company Digital World Acquisition Corp. saw its share price plunge nearly 14% in the hours following shareholder approval Friday morning of a merger with the former president’s social media company to take it public.
The drop could reflect concerns about whether Trump Media & Technology Group, which is being merged with DWAC, can ultimately deliver significant revenue — and whether Trump will try to cash in on his share early because of his many legal problems.
My review of the chart is that DWAC underwent normal volatility going into a merger vote
without complications. The volatility is healthy and traders/investors are contesting fair
value. Share price is the same as it was two weeks ago. Astute traders may consider this a
discount move for a long position. Trump is a majority shareholder. Of course, a buy of shares
benefits both the buyer and Trump in stabilizing market cap which has slowly fallen. He
cannot sell shares to fund legal proceedings and their costs for six months. The writer
who I have not named, in my opinion only, does not know jack____. He is simply trying
to put up a headline gets some reading volume and capitalize on it. He should get
one of the stock analysts that consult on his network to give him an education and then
publish a retraction. The headline might be " This clueless writer but out fake news and
is now better informed. He apologizes to the subjects of that fake news"
Enough said.
