Digital World Acquisition is near the top in its sector according to InvestorsObserver. DWAC gets an overall rating of 86. That means it scores higher than 86% of stocks. Digital World Acquisition gets an 87 rank in the Financial Services sector. Financial Services is number 3 out of 11 sectors.
The SPAC’s shareholders meet March 22 to vote on a proposed merger with Trump Media & Technology Group, which manages the former president’s Truth Social platform.
Digital World stock has been up as much as 165% year-to-date, in spite of the seemingly ever-evolving drama around its deal with Trump’s company. Lawsuits, countersuits, charges of insider trading against several of the SPAC’s investors, an SEC investigation that resulted in an $18 million penalty against Digital World – the list goes on.
Still, analysts have noted that a large proportion of the SPAC’s stockholders appear to be retail investors devoted to Trump, the presumed GOP candidate for president in November. Even Trump’s indictments on dozens of felony charges have nothing to dissuade investors from steadily driving up the stock, which trades on the Nasdaq. Digital World shares were trading at $39.15 as of early this afternoon, down 2.59% on the day. Volume was down, about one-tenth the average trading volume of 2,205,369 shares. Read more.
