Former President Donald Trump is making headlines again at the end of this week due to his planned return to Wall Street!
The former president has recently announced plans to create his very own social media platform, partnering with Digital World Acquisitions Corp. to accomplish this undertaking.
As such, the announcement of this SPAC (Special Purpose Acquisition Company) merger has sent the above-mentioned company’s stock skyrocketing over the past 48 hours, from $9.96 to a recent high of $131.90 in today’s early hours!
Join us today as we dive into the details of this coming merger and what could lay ahead for this ticker in the days to come.
TRUMP: Post Presidency
It has often been tradition that a former Commander in Chief walks away from the Oval Office after his term (or terms) in office to focus on his post-presidency life. This often includes such things as working on their memoirs, participating in lecture tours, using their influence to raise money for charitable groups, and so on. But former President Donald Trump has never been known as someone who believes in blindly following tradition and, for better or worse, the former leader is back in the headlines today as he charts his own path in his years following his term in office.
In the final hours of his term, following a deluge of bad press after being kicked off of his social media platforms, Trump announced his plans to start his own social media site (or “communications network”) where freedom of speech took priority.
Though these early attempts at this task such as his blog-like webpage, billed as “From the Desk of Donald J Trump” did not take off as anticipated, the most recent platform announcement coming from the 45th President has managed to set off a frenzy of interest on Wall Street’s trading floors!
When the Trump team announced their coming merger with shell company Digital World Acquisitions Corp. (or DWAC for short), the quadrupled in price late in the week, rising from Wednesday’s price of $9.96 to a high of $131.90 on Friday, giving early investors a near 1,657 profit increase in a matter of a couple days!
Friday alone, this pick was up as much as 284% following the announcement and, though appearing to level off in Friday’s late hours, there’s still much hope in the air that more profits could be squeezed out of this pick before the threat of a reversal.
Commenting on the recent surge, senior IPO market strategist at Renaissance Capital, Matt Kennedy said that this occurrence at this specific moment in time is “… extremely unusual” adding that investors, “… saw significant pops during the height of the SPAC bubble. Nowadays it’s rare to see a SPAC pop more than 10%.”
Kennedy went on to warn investors that this surge appears to be fueled purely by momentum and investors looking to get in on this pick in the coming days should expect the floor for this pick to be no less than $10, suggesting that investors that stay with this pick for the long-haul should be prepared to lose everything.
Learn More Here…
If you were one of the lucky few who got in on this pick yesterday and are continuing to count your fortune in today’s late hours, we congratulate you on your massive overnight success! If you’re interested in learning more about this pick and others that have been reflected in today’s market movements and are currently making impacts on tomorrow’s profits, then join the latest episode of Ask the Pros where host Celeste Lindman is sitting down with a group of professional traders and investors as they open up on this and many other market updates!
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