DWAC - Digital World Acquisition Corp.: Not Ready For Primetime

2024-02-20 12:20:33 ET

Summary

• DWAC shares have soared as the merger with Trump Media & Technology Group potentially approaches, currently valuing the combined company at over $5.5 billion.
• The special meeting is set for March 22nd, just days before former President Trump's first criminal trial, adding legal risk to the investment.
• The valuation of TMTG seems extremely inflated, with the company reporting only $3.38 million in revenue for the nine months ended in September 2023.

This year, we are expecting to see a rematch of the 2020 election, with former President Donald Trump facing off versus incumbent Joe Biden. Regardless of your political stance, the runup to this year's voting will be unlike any other given Mr. Trump's numerous legal issues that are ongoing. At the same time, investors are hoping to see the Trump Media & Technology Group ("TMTG") merger with SPAC Digital World Acquisition Corp (DWAC) finally go through. Last week, a key date was set in this process, but DWAC shares seem to be a very risky play at this junction....

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