New York, Oct 21 (EFE) .- The shares of Digital World Acquisition Corp, a company whose objective is to go on the market to later buy another company and take it to a listing, have soared for the second day in a row, after announcing an agreement to take to the stock market to the media company created by former President Donald Trump.
Digital World Acquisition Corp is a company known as SPAC acronym in English for special purchasing purpose and which are also known as “blank check” firms,
Last Wednesday Trump announced the launch of Trump Media Technology Group (TMTG) and its first product will be the new social network “TRUTH Social”.
When making the announcement, it was reported that TMTG, whose market value is 875 million, would merge with Digital World Acquisition Corp to become a publicly traded company, reaching a value of 1.7 billion dollars depending on the performance.
Digital World shares, which were at $ 10 on October 21, were trading at $ 118 per value, at 1:50 p.m. local time (5:50 p.m. GMT).
These types of financial vehicles without operations whose sole objective is to merge with real companies that want to go public have multiplied in recent years with technological and famous investors joining them.
Donald Trump announced Wednesday the launch of his own media company, with plans for now to open a social network and video subscription service.
The company will be called Trump Media Technology Group (TMTG) and according to a statement from the former president its mission is to “create a rival to the progressive media consortium and fight the ‘Big Tech’ companies of Silicon Valley.”
Trump accuses these companies of “having used their power unilaterally to silence opposition voices in the United States.”
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