The biggest financial news of the week was obviously Trump Media (TMTG) announcing a merger with Digital World (DWAC), a SPAC. Including earnouts, the deal valued TMTG at $1.7B. With the stock trading for~$100/share the market is currently valuing TMTG at ~$17B (I’m arriving at the number simply by taking the $1.7B EV and multiplying by the premium to trust DWAC is trading at. It’s not precisely correct but it’s close enough). To put that into context, Twitter is valued at ~$50B and Fox (which owns Fox Broadcasting and Fox News) is valued at ~$25B, so if you take DWAC stock at face value and ignored the obvious squeeze / trading sardine dynamics here the market is giving TMTG a real chance at becoming a media giant.
DWAC: TRUMP SPAC, GROWTH STOCK, ELECTION TOOL?
https://www.undervalued-shares.com/reports/investment-reports/dwac-trump-spac-growth-stock-election-tool/aff/9/
Have you seen this?
https://www.vice.com/en/article/5dgm5k/truth-social-is-mastodon-trump
Make shameless grift great again, I guess...
No. Just saw it. But it's about what I would expect!