Truth Social is a social media platform developed by Trump Media & Technology Group, an American media, and technology business established in October 2021 by former U.S. President Donald Trump. Truth Social is also known as TRUTH Social. According to others, the platform competes with Parler and Gab in the alt-tech space.
The launch day for the service was February 21, 2022. Since its debut, the Truth Social platform has had serious scaling issues, which has resulted in a lower user base than anticipated. The service was only available to users in the United States and Canada up until May 2022 and could only be accessed through an iPhone app.
Although access is still restricted by geography, the service developed a web app in May 2022 that allows users of any internet browser to visit the site.
Is DWAC Stock a Smart Investment? Purchase Dwac Stock
looking into buying DWAC stock? Digital World Acquisition Corp. is known as DWAC. Since this company is a SPAC (Special Purpose Acquisition Vehicle), the future performance of the DWAC shares is solely dependent on the success of the merger with Trump Media & Technology Group.
However, the merger is in danger. We explore the reasons why in the paragraphs that follow, as well as whether this risky stock still has room to rise.
Investors will need to register with an internet broker in order to purchase DWAC stock. We demonstrate this process. We specifically emphasize where to acquire DWAC stock right now with no commission, focusing on the brokers eToro and Webull.
Stock Price Forecast for DWAC
The future of the DWAC shares depends on whether the proposed merger with TMTG can proceed despite the continuing SEC investigation and scrutiny from a Federal Grand Jury.
The outcome of the SEC investigation will determine the stock’s short-term prospects. The DWAC stock price is unlikely to increase over the resistance level near the $37 mark as long as this inquiry continues to loom over the firm.
Stock Dividends for DWAC
Due to the fact that DWAC has never paid dividends, it is not considered a dividend stock.
The resultant stock, which is anticipated to have the ticker “TMTG,” may or may not pay dividends if the merger with TMTG is successful.
Investors must turn elsewhere if they want to research the greatest dividend stocks. The top US telecom company, AT&T, is an illustration of a solid dividend stock. Possibly one of the best tech stocks, AT&T has racked up an astounding $180 billion in debt, but despite this, the company has been able to boost its yearly dividend payout each year since its IPO in 1984.
Is DWAC Stock a Smart Investment?
Unless the investor is persuaded that the stock is worthwhile purchasing, the topic of how to purchase DWAC stock is moot. On the plus side, should it merge with its desired target, TMTG, DWAC is well-funded and will gain prominence for its senior management on a global scale:
DWAC Has Adequate Funding
When DWAC combines with its objective, $293 million will be available in the bank to be invested in the new firm. DWAC and TMTG announced a $1 billion PIPE investment from institutional investors on December 4, 2021. Private Investment in Public Equity is referred to as a PIPE investment. In the event that a merged business materializes, it will at least have a war fund.
Worldwide Acclaim for Management
Whether you like him or not, everyone is familiar with Donald Trump. The Trump Media & Technology Group, which DWAC hopes to merge with and list on public stock markets, was founded by former US president Trump.
Putting politics aside (which is always sane when making investment decisions), the association between DWAC and former US President Donald Trump has always benefited the company’s stock price. The DWAC stock has been pumped at different times on important DWAC stock news as a result of increased public awareness.
Patrick Orlando, the CEO of DWAC at the moment, has no public profile. On the downside, Truth Social, the main product of TMTG, and the proposed merger between DWAC and TMTG require answers to two important problems.
Elon Musk Increases Twitter, Detriments DWAC Shares
Twitter is Truth Social’s main rival, and Twitter’s stock price has increased significantly as a result of Tesla CEO Elon Musk purchasing a significant stake in Twitter.
In a filing with the SEC, Musk stated that he currently holds around 73.5 million shares of Twitter. As of the closing price on April 1, the value of the stake was $2.89 billion.With more shares than the company’s well-known founder Jack Dorsey, Elon Musk is now the company’s top shareholder.
The software mogul passed up the opportunity to join the Twitter board and instead agreed to buy the business for $54.20 per share. It happens after Twitter implemented a so-called poison pill strategy in an effort to stop him.
But this was before Musk made public that he had arranged finance for the transaction. Since then, it has come to light that the eccentric executive will act as interim CEO if he successfully completes the $44 billion buyouts.
Truth Social bases its argument in part on complaints that Twitter limits free expression. The appeal of the competing Trump product would be diminished, though, if Musk successfully completes the takeover and moves to remedy this.
But the agreement is beginning to show cracks. The oddball executive tweeted that the deal is “currently on hold” because of worries that spam and false accounts account for more than 5% of users. According to Wedbush analyst Daniel Ives, Musk is indicating he is changing his mind about the deal.
Musk, though, has subsequently increased his pledge to $33.5 billion for his takeover effort. Additionally, he offers to cancel a margin debt. Wall Street thinks this raises the likelihood that Musk will carry out his offer and close the deal.
However, a Washington Post piece on July 7 raised more questions about whether it will actually happen. According to the source, it is “in significant peril” since Musk’s team determined Twitter’s statistics on spam accounts cannot be independently verified.
Even though Musk said he would let Trump resume using Twitter, Trump has nonetheless committed to his own website. This is significant because of how popular he is on social media.
He said to Fox News, “I am not going on Twitter, I am staying on Truth. “I hope Elon buys Twitter because he’ll make it better and he’s a good man, but I’m going to stick with Truth,” the speaker said.
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