Zero Hedge: 'The Richest He's Ever Been': Trump Set To Gain Billions In Net Worth On Moonshot SPAC
Former President Donald Trump's new media enterprise - Trump Media & Technology Group - is already worth an implied $8.2 billion following last week's buying frenzy following the announcement of it's special purpose acquisition company (SPAC), Digital World Acquisition Corp. (ticker: DWAC).
Shares in DWAC had been hovering around $9 before Wednesday's announcement, before rising to $52 on Thursday and closing at $45.50. An incredible half a billion shares changed hands during regular market hours. Momentum continued on Friday despite five halts, as the stock opened at $118, hit a high of $175 despite momentum-breaking halts, only to close at $94.20 at the end of the day (dropping to nearly $80 after hours).
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WNU Editor: I am very skeptical of this valuation. There is just the promise of a product being released in a few months (a social-media platform called Truth Social). There are also no financials. No business plan. No explanation on this valuation. And no information.
But I have been around long enough to know that web projects may look and sound stupid when first proposed, but end up worth billions a few years later.
And I also learned a long time ago to never underestimate Donald Trump.
2 comments:
It's possible, but a bit overvalued for sure
He also is the first or one of the very few presidents who lost money in office.
if Zero says it it must be true. they are anon and google search indicates they may be from a foreign source, but hey, they are more reputable than Reuters, NY Times, WSJ et al!
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