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Digital World Acquisition (DWAC) stock slid 10% on Friday, after surging as much as 20% a day earlier on a release date for former President Trump's new social media app.
Digital World Acquisition Corp, the blank-check acquisition company that has agreed to take former U.S. President Donald Trump's social media platform public, is nearing a $50 million financing ...
DWAC stock has been largely stuck in neutral for the past year, trading in the $13-$17 range. About a month ago, it began to climb sharply, much like a meme stock, more than doubling its price in ...
Tuesday's news was just the latest chapter in DWAC's attempt to delay the merger. Shareholders had been asked to gather six times previously — on Sep. 6, Sept. 8 (three times), Oct. 10, and Nov ...
Digital World Acquisition Corp. (DWAC), founded in 2021, was an American special-purpose acquisition company (SPAC), a shell corporation listed on a stock exchange with the purpose of acquiring (or merging with) a private company, thus making the private company public without going through the initial public offering process, which often carries significant procedural and regulatory burdens.
In late April 2022, holding company DWAC lost 44% of its stock value after Elon Musk disclosed his large stake in and intent to buy out Twitter. Matthew Kennedy, a market strategist at Renaissance Capital , said a Musk-owned Twitter would undercut the rationale behind Truth Social's existence.
Earlier in Tuesday's session, the stock rose as much as 50%. The company merged with special purpose vehicle Digital World Acquisition Corp. ( DWAC ) in a deal approved by shareholders last week.
DWAC may refer to: DWAC-FM, a radio station in Naga, Philippines; DWAC-TV, a television station in Manila, Philippines; Digital World Acquisition Corp., a special-purpose acquisition company that eventually merged with Trump Media & Technology Group; Devil Without a Cause, a 1998 album by Kid Rock or its title track