Donald Trump stands to reap a windfall of $3 billion or more after Digital World Acquisition Corp. shareholders voted to merger with his social media company.
Can someone explain how this fucking works? DWAC market cap is 1.37B, Truth Social has apparently never made money… How does them merging add like 6+ Billion market cap? Am I crazy or has the world gone nuts?
I don’t really understand this, either. Other than these new SPACs being the cutting edge of fraud or some kind of white-collar crime. Here’s some interesting info (and comparison with Reddit IPO).
SPACs were supposed to be a quick and easy way for a company like Trump Media & Technology Group to go public, but it hasn’t worked out that way.
Instead, they’ve developed a reputation as a kind of back-door IPO for companies that probably couldn’t withstand the scrutiny involved with a conventional listing.
Many of the highest-profile SPACs, including Nikola, Virgin Galactic, and BuzzFeed, are now unloved penny stocks.
Can someone explain how this fucking works? DWAC market cap is 1.37B, Truth Social has apparently never made money… How does them merging add like 6+ Billion market cap? Am I crazy or has the world gone nuts?
I don’t really understand this, either. Other than these new SPACs being the cutting edge of fraud or some kind of white-collar crime. Here’s some interesting info (and comparison with Reddit IPO).