Donald Trump is one of the world’s most famous businessmen, but his companies have usually been privately held. Now investors have the chance to throw their lot in with the former president of the United States through Digital World Acquisition (DWAC). The stock has been boosted by the launch of the Truth Social app.
The special purpose acquisition company (SPAC) is being used as a vehicle to take the Trump Media & Technology Group public. When the merger is complete it is likely to trade on the Nasdaq under the ticker “TMTG.” The intended time frame for merger completion has not been publicly disclosed, though it is expected to close later in 2022 if it passes regulatory muster.
Trump has boasted that he will offer a “Big Tent” platform as he attempts to take on technology giants such as Twitter (TWTR) and Facebook parent Meta Platforms (FB). But it has some regulatory hurdles to overcome.
So, is the ultimate Donald Trump stock a buy now?
Donald Trump On DWAC
Digital World Acquisition is to serve as a vehicle to take the Trump Media & Technology Group public via a merger.
Trump, who has struggled to reach his audience via social media since the Jan. 6 Capitol riot, unveiled his vision for the company last October.
“Unlike with the Big Tech platforms, there will be no shadow-banning, throttling, demonetizing, or messing with algorithms for political manipulation,” Trump said in a statement. “We will not be treating users like lab rats for social experiments, or labeling alternative views as ‘disinformation.’ “
Truth Social Launches
Truth Social, a platform being touted as an alternative to Twitter, had been slated to launch on Presidents Day, which falls on Feb. 21.
While it has yet to fully roll out, it is now available to Apple users. Some users following the launch reported difficulties logging in, creating accounts and being wait-listed. The platform, in an update, said it had “stabilized the account creation process.” And it said it was “working to increase the rate of new account creation.”
“Due to the overwhelming demand at launch, we are…