SPAC linked to President Trump’s ‘Truth Social’ venture is the best performing SPAC stock ever

Shares of the blank-check special purpose acquisition company (SPAC) that agreed to merge with former U.S. President Donald Trump’s “Truth Social” venture have outperformed all other SPACs ever.
Former U.S. President Trump to launch new social media platform TRUTH Social on February 21st
Reuters:

Former U.S. President Donald TrumpDigital World Acquisition Corp (DWAC), which inked an $875 million deal in October to merge with Trump Media & Technology Group Corp (TMTG), currently ranks as the best performing SPAC stock ever, according to SPAC Research.
Digital World’s shares ended trading at $73.12 on Friday, way above their $10 initial public offering price. This infers a valuation on the combined entity of close to $13 billion, including debt.
The financial underperformance of most SPACs makes Digital World’s stock rally, driven by Trump supporters and retail investors, all the more notable.
Apple Inc’s App Store currently lists February 21 as the date that Trump’s new social media app, Truth Social, will be available to download.
Digital World CEO Patrick Orlando and other SPAC insiders paid $11.8 million to receive founder and placement shares in the SPAC that are now worth roughly $620 million, according to regulatory filings and Reuters calculations.

MacDailyNews Note: Apple’s App Store currently hosts a preorder page for the TRUTH Social app which states, verbatim:
TRUTH Social is America’s “Big Tent” social media platform that encourages an open, free, and honest global conversation without discriminating against political ideology
Follow the TRUTH!
What exactly is TRUTH Social’s “Big Tent” approach?
Big Tent is a new way to describe “inclusivity” in America. Think of a giant outdoor event tent at your best friend’s wedding. Who’s there? The combination of multiple families from all over the United States, and the world. Uncle Jim from Atlanta is a proud libertarian. Aunt Kellie from Texas is a staunch conservative. Your cousin John from California is a die-hard liberal. And guess what? They’re all together to have an amazing time and share their viewpoints of the world. Although we don’t always agree with each other, we welcome these varied opinions and welcome the conversation.
Let your voice be heard. Sign up, join the conversation, and share your unique opinion by posting a TRUTH, Re-TRUTH, photo, news story, or video link to communicate with your friends, customers, and the world. Stay informed about breaking news while staying directly connected with the people who influence you – don’t be shocked if they take your TRUTH viral!
Key Features
• Profile – Express your unique personality by setting up a profile, avatar, and background. Begin to track your personal connections through follower and following counts as well as history for your posts and likes.
• TRUTH Feed – Get the scoop on the latest thoughts and activities from the people, organizations, and news outlets that interest you. The TRUTH Feed contains posts from all those you follow brought to life with the help of thumbnail photos, links, and more.
• Search – TRUTH Social really starts to become interesting as you connect with others. Search for a voice that you find interesting and easily follow them right from the search list or view their profile first before deciding.
• Notifications – Stay engaged as you build a following. See who’s following you and who’s interacting with your TRUTH’s.
TRUTH Social is America’s “Big Tent” social media platform that encourages an open, free, and honest global conversation without discriminating against political ideology.
Please help support MacDailyNews. Click or tap here to support our independent tech blog. Thank you!
Shop The Apple Store at Amazon.

[Thanks to MacDailyNews Readers too numerous to mention individually for the heads up.]
The post SPAC linked to President Trump’s ‘Truth Social’ venture is the best performing SPAC stock ever appeared first on MacDailyNews.