Digital World Acquisition Corp: DWAC trades at $1.6B ahead of merger with Trump Media

advances 17.8% on Wednesday. Digital World Acqusition has been cleared for a merger vote with Trump Media on Friday.

price action comes as the market gears up for a shareholder vote on Friday that is expected to finally result in a merger for the SPAC with Trump’s Truth Social company. The broader market wasbroadly flat aroundlunchtime in New York, but bounced higher followingFed ChairJerome Powell's press conference after the central bank held rates constant. The S&P 500 gained 0.89%, while the NASDAQ advanced 1.25%.

stock news Investors are excited for the long-awaited merger with Trump Media & Technology Group to finally go through. After being held up for the better part of three years for various reasons, the most recent holdup was on account of two TMTG co-founders suing to stop Donald Trump from diluting their stake. Andy Litinsky and Wes Moss held an 8.6% share of TMTG ownership, which they believe Trump is attempting to dilute so he can control a much larger bounty from the impending merger.

is currently valued at $1.6 billion, but post-merger, the combination could be worth much more. Donald Trump owns approximately 90% of TMTG. The new company will be called Trump Media & Technology Group Corp. and will trade under the TMTG ticker. Meme stocks FAQs What is a meme stock? Meme stocks are stocks favored by retail traders – but not by professional or institutional traders – that grow popular through its backers publishing memes on social media websites to win converts.

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