NVDA gained a massive 197% since our AI first added it in November - is it time to sell? 🤔Read more

Donald Trump-linked SPAC stocks surge on hints at presidential run

Published 08/11/2022, 08:24
Updated 08/11/2022, 09:41
© Reuters.  Donald Trump-linked SPAC stocks surge on hints at presidential run
DJT
-

Donald Trump-linked stocks rallied in the US after the former president hinted he may run for the White House in 2024.

Digital World Acquisition Corp (NASDAQ:DWAC), the media company taking Trump Media and Technology Group public, jumped 66% on Monday.

That took the special purpose acquisition company (SPAC) to back over a value of US$1bn for the first time since August.

DWAC is still said to be working on gaining enough shareholder support to extend the deadline for its merger with Trump’s media company to next September.

A criminal probe into the SPAC is also underway after possible securities violations took place between DWAC and Trump Media before the merger announcement.

Trump said in a rally in Michigan last month that he would take Trump Media private if DWAC did not come up with the funding.

Read more on Proactive Investors UK

Disclaimer

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.