Digital World, Up 165% YTD, Could Become Donald Trump’s Cash Cow

DWAC plans to take Media and Technology Group (TMTG) public in a reverse merger. Trump Media is the parent of the conservative social-media platform . If the deal closes, the combined company is likely to trade on the under a ticker such as TMTG, reports Investor's Business Daily.

Truth Social launched after Twitter, now X, shut down Trump's account following the Jan. 6, 2021, riot at the U.S. Capitol.

In October 2021, TMTG and DWAC announced their plan to merge. That merger has been delayed for years amid federal investigations that resulted in an $18 million fine against the SPAC for what the SEC deemed “misleading .” The regualtor determined that Digital World and Trump Media discussed a deal before the SPAC went public, which is illegal. However, the fine would only be paid if the merger is completed. Read more

Source: Digital World, Up 165% YTD, Could Become Donald Trump's Cash Cow