SPAC Digital World Acquisition, which is trying to take Donald Trump’s social media company and Truth Social app public, dropped 5.5% after the former president revealed today that his “major announcement” is a digital trading card collection.
Trump disclosed that his digital trading card collection is now available, he said in a Truth Social posting on Thursday.
“Only $99 each! Would make a great Christmas gift. Don’t Wait. They will be gone, I believe, very quickly!” Trump posted on Truth Social.
Trump a day earlier had said he would be making a “major announcement” on Thursday. The posting included a cartoon of Trump dressed up like Superman with what appeared to be laser beams shooting from his eyes.
The hint of imminent big news appeared to spur a surge of interest in Digital World shares, which at one point yesterday were up 8% after Trump’s “major announcement” tease. Social media sites lit up with speculation on what his announcement might be — from conjecture about a running mate for Trump’s announced 2024 White House bid, to some of the more esoteric speculation that is a common characteristic of social media.
Digital World narrowly avoided liquidation after shareholders voted last month to extend the SPAC’s merger deadline with Trump’s company until September 2023. The SPAC managed to get past the 65% minimum threshold in support of the extension, after half a dozen postponed votes.
Both the SPAC and Trump Media are the focus of federal regulatory investigations.
As for Trump’s collectible NFT trading cards, there are evidently 45 different cards to choose from — all featuring Trump in assorted costumes, from cowboy to astronaut. So for about $4,455 a Trump devotee can catch ’em all. Just like Pokémon.
