Wed. Jun 19th, 2024
Trump Media and Technology Group Receives Nasdaq Listing Approval; Making a Billion-Dollar Wager on a Potential Second Trump Term

On Friday, Digital World Acquisition (DWAC) announced that its shareholders had approved the SPAC’s proposed merger with Trump Media & Technology Group (TMTG), the company behind Donald Trump’s Truth Social platform. The merger values TMTG at an enterprise value of approximately $1.1 billion at a transaction price of $10 per share. The combined company will soon trade under the ticker DJT, possibly as early as this week.

This merger has sparked significant attention due to high-profile legal issues, intense trading activity, and Trump’s recent victory in the Republican primary. Many investors view this stock as a bet on Trump winning the US presidency in November 2024. However, de-SPACs have been facing challenges recently, with past mergers over the last year averaging a -59% return. Despite this, Digital World Acquisition’s stock has shown remarkable performance, rallying 111% year-to-date and closing at $36.94 on Friday, well above the offer price pre-merger. This makes it one of the few SPAC stocks to trade substantially higher post-merger.

Investors have expressed interest in this potential merger due to TMTG’s focus on social media and technology, which aligns with DWAC’s initial focus on technology when it first IPO’d in September 2021. While some may see this move as a risky bet on political outcomes, others view it as an opportunity to gain exposure to a rapidly growing industry that has seen immense growth over the past year. To access more information about this story and stay up-to-date with future developments related to IPO Pro sign up for a free trial today.

By Aiden Nguyen

As a content writer at, I delve into the realms of storytelling with the power of words. With a knack for research and a passion for crafting compelling narratives, I strive to bring forth engaging and informative articles for our readers. From decoding complex concepts to unraveling current events, I aim to captivate and educate through the art of writing. Join me on this journey as we explore the ever-evolving landscape of news and knowledge together.

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