“… so do The People” — Paul Ebeling
Shares of the blank-check acquisition company that plans to publicly list President Trump’s (45) new social media venture soared again Friday, with trading halted multiple times due to volatility.
Digital World Acquisition (NASDAQ:DWAC) stock was last seen at 93.02 or +48 (107%) after earlier marking a high of 175 earlier in the session.
The SPAC Digital World rose more than 300% Thursday, giving it a market capitalization of almost $1.5-B on news it would merge with Trump’s media company to create a social media app called TRUTH Social.
Fidelity’s data showed Digital World was the most traded stock on its platform on Thursday.
It was also the most discussed stock on trading-focused social media site Stocktwits, a platform commonly seen as a measure of interest from retail investors. Message volumes on Stocktwits related to the SPAC were up more than 9,000%.
The stock traded more than 77-M shares by Friday Noon surpassing the free trade float of 22.8-M/shares
Have a prosperous weekend, Keep the Faith!