Market Cap Soars for Trump-Linked SPAC
- The stock price of Digital World Acquisition Corp. (DWAC), a special purpose acquisition company, soared this week.
- The company, intends to take President Donald Trump’s forthcoming digital media platform public through a merger, is now worth $2 billion.
- Earlier this week, DWAC revealed the deal was being investigated by the US Securities and Exchange Commission and other regulators.
Shares of the
SPAC
linked to former President Donald Trump’s planned digital media platform surged this week, days after revelations of an SEC investigation and an announcement the two companies had lined up an estimated $1 billion from investors for TRUTH social.
The stock price of Digital World Acquisition Corp. (DWAC), a special purpose acquisition company, was up about 25% to close out the week, following a sell-off last month. The company’s
market cap
now stands around $2 billion.
The spike came after an eventful week for DWAC