Shares of Digital World Acquisition Corp. (DWAC), the special purpose acquisition company (SPAC) set to merge with former President Donald Trump's social media platform, Truth Social, have surged to their highest in 19 months following the withdrawal of Ron DeSantis from the 2024 presidential race. The stock experienced a significant rally, with a 64% surge reported and a peak increase of 180% in the past week. DWAC's market capitalization reached $1.9 billion, although it saw a 6% drop in premarket trading after the rally. Over a six-day period, DWAC stocks were up by 175%.
$DWAC (market cap $1.9 billion! with a B!) is down 6% in premarket. Up 190% this year.
$DWAC back she moves again.. https://t.co/ztKVfwOrqI https://t.co/u4OJpC2QyA
Trump’s SPAC $DWAC up 180% in the past week https://t.co/dRnmNYswhH
Trump stacking Ws. $DWAC up 175% in six days. https://t.co/g7WObrD2gs
Trump-linked stocks soar as DeSantis exits 2024 race https://t.co/qNWpyeePns https://t.co/FOdCMXxgir
Trump media merger partner, Digital World, surges 64% after DeSantis drops out https://t.co/3pGAUzcXd6
Trump-linked stocks soar after DeSantis throws in the towel https://t.co/2yjqzexzHX
⚠️ TRUMP-LINKED STOCKS SOAR AFTER DESANTIS THROWS IN THE TOWEL (Reuters) Shares of Digital World Acquisition, the blank check firm set to take former U.S. President Donald Trump's social media platform public, soared to their highest in 19 months on Monday after Florida… https://t.co/utS8DdX4tC
SPAC buying Trump’s Truth Social has nearly doubled over six-session win streak https://t.co/VVFyT5Ay9Z
$DWAC (+10.30% pre) Trump stocks are putting in another rally this morning after Ron DeSantis officially drops out of the 2024 race Here we go again... 🥴 https://t.co/gOXsgXkNRa https://t.co/oXQefMGzyM