Shares of Trump Media & Technology Group merger SURGE 20%

by Joshua Perry

Share owners of President Donald Trump’s social media company rang in the new year on Thursday when stocks skyrocketed 20 percent after news broke that the 45th president has a targeted launch date for his social media app, TRUTH Social.

The parent company to Trump Media & Technology Group (TMTG), Digital World Acquisition Corp. (DWAC), watched as its market capitalization began at just over $50 a share prior to bookending the day at $60 per commodity ownership.

At the close of trading, the special acquisition company (SPAC) profited near $2.2 billion. The purpose of a SPAC is to bring a private company like TMTG to the market for public investment while securing investor funding.

Advertised as a censorship-free alternative to Facebook and Twitter, TRUTH Social is set to begin operations in February on Presidents’ Day. The two mega-tech companies banned President Trump after he was falsely blamed for inciting riots on Jan. 6, 2021, at the United States Capitol.

In a vow to “stand up to the tyranny of Big Tech,” Trump created the multimedia venture as a platform for free speech practitioners without the fear of being a target of cancel culture.

The billionaire entrepreneur is no stranger to success and neither is his new start-up, TMTG.

After the merger of Digital World Acquisition Corp. and TMTG, media venture experienced a 1,000 percent increase in value from its starting price. Furthermore, after the publicly announced partnership with Rumble, Truth Media & Technology Group multiplied its worth to a total just above $10 billion. Rumble is expected to provide and host streaming and video services for Trump’s social media company.

Operating at the helm of leadership for the company is former Rep. Devin Nunes, R-Calif. Nunes resigned from Congress in January to assume his new role as Chief Executive Officer. The veteran U.S. House Representative is a “fighter,” and a “leader,” according to Trump.

As the midterm elections draw near, the duo aims to “stop the liberal media and Big Tech from destroying the freedoms that make America great.”

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