Digital World Acquisition Corp. DWAC, +356.83%, the special purpose acquisition company merging with the newly formed Trump Media & Technology Group, was flirting with $70 per share in early premarket trade, which would represent a rise of more than 50%. The SPAC jumped 357% to $45.40 on Thursday, following the announcement. At $70, DWAC would have a market capitalization of roughly $2 billion. The Digital World transaction values Trump Media at an initial $875 million, for a company which plans to roll out a beta version of a social-media platform next month, and subsequently produce “non-woke” news shows, entertainment and podcasts.
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