DWAC - WallStreetBets Is Buzzing About Digital World Stock Ahead Of Trump Media's First Trade Under DJT Ticker | Benzinga
Redditors are buzzing about former President Donald Trump's social media platform, Truth Social, as it is set to become the second social media company to go public in less than a week.
What Happened: Digital World Acquisition Corp. (NASDAQ:DWAC) announced Monday that it has completed its business combination with Trump Media & Technology Group Corp.
According to regulatory filings, Trump Media & Technology Group pulled in $3.3 million in revenue over the first nine months of 2023 and booked losses of $49 million during the same period. When it begins trading on the Nasdaq on Tuesday, TMTG could be valued as high as $8.6 billion on a fully diluted basis based on current prices.
Retail Chimes In: Redditors are commenting on the staggering valuation of the parent company of Truth Social, an unprofitable social platform with approximately five million active users, according to estimates ...