Trump SPAC Digital World expects merger done ‘as soon as first quarter of 2024’

December 23, 2023 | by


Trump SPAC Digital World has announced that it expects to complete its merger with former President Donald Trump’s media venture, Trump Media & Technology Group, by the first quarter of 2024. The announcement comes after Digital World filed an amendment to its registration statement, which includes a preliminary proxy statement and a prospectus for the proposed business combination. With this filing, Digital World is one step closer to finalizing the merger and presenting it for a shareholder vote. Shares of Digital World rose 4.7% after the announcement.

Digital World Acquisition Corp. Expects Merger Completion

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Background on Digital World Acquisition Corp.

Digital World Acquisition Corp. (DWAC) is a blank-check company that is set to merge with former President Donald Trump’s media venture, Trump Media & Technology Group. DWAC aims to create a new social media platform called Truth Social. This merger has garnered significant attention due to its association with Trump’s brand and the potential impact it could have on the digital media landscape.

Merger Timeline

In a recent regulatory filing, DWAC announced its expectation to complete the merger “as soon as the first quarter of 2024.” This timeline suggests that the merger is progressing according to plan, and the company is confident in its ability to meet its target deadline. The merger’s timeline involves several crucial steps, including finalizing the registration statement, obtaining shareholder approval, and completing the business combination.

Amendment to Registration Statement

As part of the merger process, DWAC filed an amendment to its registration statement. This amendment includes a preliminary proxy statement of the company and a prospectus in connection with the proposed business combination with Trump Media & Technology Group. The filing of this amendment signifies that DWAC is nearing the final steps before the merger becomes effective and goes to the shareholders for a vote.

Expectations for Merger Completion

With the merger timeline set and the registration statement amendment filed, DWAC is optimistic about the completion of the merger. The company’s leadership, including Trump Media Chief Executive Devin Nunes, expressed confidence in the merger’s progress. The expectation is that the shareholders will approve the merger, allowing DWAC and Trump Media & Technology Group to proceed with their plans for Truth Social.

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Statement from Trump Media Chief Executive

In response to the filing of the registration statement amendment, Trump Media Chief Executive Devin Nunes released a statement expressing confidence in the merger’s progress. Nunes stated, “With this filing, we are closing in on the final steps before our merger becomes effective and goes to the shareholders for a vote.” This statement reaffirms the commitment of DWAC and Trump Media & Technology Group to complete the merger as planned.

Stock Performance of Digital World Acquisition Corp.

After-Hours Trading

Following the announcement of the expected merger completion timeline, DWAC’s stock experienced a significant surge in after-hours trading. The stock price rose by 4.7%, indicating investor confidence in the company’s prospects. This surge demonstrates the market’s positive reaction to the news and suggests that investors see potential value in the merger with Trump Media & Technology Group.

Percentage Increase in Stock Price

The percentage increase in DWAC’s stock price after-hours is a notable indicator of the market’s perception of the company’s future. A rise of 4.7% indicates investor enthusiasm and confidence in DWAC’s ability to successfully complete the merger with Trump Media & Technology Group. As the merger progresses, it will be interesting to monitor the stock’s performance and assess the long-term impact on DWAC’s valuation.

Comparison between Tesla and BYD

Financial Similarities

Tesla and China-based BYD have several financial similarities that make them relevant to compare. Both companies are significant players in the electric vehicle (EV) industry and have achieved considerable success in their respective markets. Additionally, Tesla and BYD have generated almost identical operating profit in the third quarter, highlighting their comparable financial performance.

Different Valuations

Despite their financial similarities, Tesla and BYD have substantial differences in their valuations. Tesla, led by CEO Elon Musk, has consistently been valued at a premium due to its market-leading position in the EV industry and its innovative technologies. In contrast, BYD has a lower valuation, reflecting its position as a Chinese-based company and potential investor perception differences between the U.S. and Chinese markets.

Potential Market Value of Tesla in 2024

Analyst Forecast for Market Value

Some analysts predict that Tesla’s market value could reach $1 trillion by 2024. This forecast is based on various factors, including the company’s growth trajectory, its dominance in the EV market, and its potential for expansion into other industries, such as renewable energy and autonomous driving. If Tesla can maintain its current trajectory and capitalize on emerging opportunities, it has the potential to become one of the most valuable companies in the world.

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Nike’s Stock Performance

Worst Day in 26 Years

Nike recently experienced its worst day in 26 years in terms of stock performance. The company’s stock price plummeted, causing concerns among investors and analysts alike. The decline in Nike’s stock price can be attributed to various factors, such as weakening sales, supply chain disruptions, and changing consumer preferences.

Impact on Dow’s Price

Nike’s stock performance had a significant impact on the Dow Jones Industrial Average (DJIA). As one of the 30 stocks comprising the DJIA, Nike’s decline contributed to a decrease in the index’s overall value. The decline in Nike’s stock price served as a reminder of the potential volatility and impact of individual stocks on broader market indices.

AI Stock Recommendation

Overview of Mullen’s Stock

Mullen Technologies, an electric vehicle manufacturer, recently experienced a surge in its stock price following a large reverse-split. The company’s stock jumped as listing hopes were kept alive through this strategic financial move. Mullen Technologies, with its focus on the EV market, is an AI stock worth considering for investors looking to capitalize on the growing demand for electric vehicles.

Reverse-Split and Listing Hopes

Mullen’s reverse-split is a financial strategy aimed at increasing the company’s stock price by reducing the number of outstanding shares. This move can improve the stock’s appeal to investors and potentially attract new listings. By positioning itself as a player in the EV industry, Mullen Technologies has generated interest and optimism among investors, making it an AI stock recommendation worth exploring.

Best Skill to Learn for Retirees

Importance of Learning New Skills in Retirement

Learning new skills in retirement is essential for personal growth and development. Retirement presents a unique opportunity to explore interests and hobbies that may have been neglected during one’s working years. Acquiring new skills can enhance cognitive abilities, promote mental well-being, and provide a sense of fulfillment. It is crucial for retirees to embrace lifelong learning to make the most of their retirement years.

Trump’s Criticism of New Hampshire Poll

Accusations of Scam

Former President Donald Trump recently criticized a New Hampshire poll, alleging it to be a scam. Trump’s accusation raised questions about the validity and reliability of polling methods and the potential for bias in political polling. The incident highlights the ongoing debate surrounding polling accuracy and its impact on political discourse.

Haley’s Potential Presidential Candidacy

Trump’s criticism of the New Hampshire poll is significant as it came shortly after the poll showed potential presidential candidate Nikki Haley within 4 points of him. The association between the poll results and Haley’s potential candidacy adds another layer of complexity to the political landscape. This development raises speculation about the dynamics within the Republican Party and the potential contenders for the next presidential election.

The Santa Claus Rally Phenomenon

Seasonal Year-End Gift in the Stock Market

The Santa Claus Rally refers to the historical tendency of the stock market to experience a positive trend in the final week of December. This phenomenon is often attributed to increased optimism, holiday cheer, and year-end portfolio adjustments. Investors have come to view the Santa Claus Rally as a potential gift in the form of increased stock prices.

Managing Expectations for Investors

While the Santa Claus Rally is an intriguing phenomenon, it is essential for investors to manage their expectations. Market trends are influenced by various factors, and historical patterns may not always hold true. Investors should approach the holiday season with caution, considering their overall investment strategies and weighing the potential risks and rewards associated with year-end market movements.

Benefits of Learning New Skills in Retirement

Enhancing Personal Growth and Development

Learning new skills in retirement offers numerous benefits for personal growth and development. It provides retirees with the opportunity to expand their knowledge, explore new interests, and challenge themselves intellectually. Engaging in continuous learning promotes mental agility, creativity, and a sense of fulfillment, all of which contribute to overall well-being and a higher quality of life.

Exploring New Interests and Hobbies

Retirement provides the perfect opportunity to explore new interests and hobbies. Learning new skills allows retirees to delve into areas they may not have had time for during their working years. Whether it’s picking up a musical instrument, learning a new language, or honing crafting skills, retirees can discover new passions and engage in activities that bring joy and fulfillment to their retirement years.

In conclusion, DWAC’s expected merger completion with Trump Media & Technology Group, the potential market value of Tesla in 2024, the stock performance of Nike, the AI stock recommendation of Mullen Technologies, the importance of learning new skills in retirement, Trump’s criticism of a New Hampshire poll, the Santa Claus Rally phenomenon, and the benefits of learning new skills in retirement all provide interesting insights into the world of business, finance, and retirement planning. These topics highlight the dynamic and ever-changing nature of the digital world and the opportunities and challenges that come with it. As investors and individuals, it is crucial to stay informed, adapt to new trends, and continuously seek growth and development in our personal and professional lives.

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