The former US president wants to set up a streaming channel and his own social medium called “Truth Social”.
(Photo: Reuters)
new York Donald Trump has become the newest favorite of Reddit traders. The former US President announced last week that he would merge his Trump Media & Technology company with a Spac. Spac stands for Special Purpose Acquisition Company. These are listed shell companies that mostly buy up start-ups and, so to speak, bring them to the stock market through the back door.
Trump wants to set up a streaming channel and his own social medium called “Truth Social”. He is said to be with the Spac Digital World Acquisition Corp. (DWAC) merge. The share price of the Spac climbed again on Monday in early New York trading by eight percent, after the price gains had already exceeded 1000 percent at times in the past week.
The paper is particularly popular with small investors who coordinate via online forums such as Reddit and who have repeatedly helped certain stocks to make high price jumps in recent months.
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