Donald Trump is venturing into meme-stocks, attracting a spirited group of MAGA supporters who discuss politics, religion, and the stock market on platforms like Reddit and Rumble. They are eagerly anticipating the public debut of Trump’s social media company, Truth Social, through a special-purpose acquisition company (SPAC). They meticulously analyze its SEC filings and even seek inspiration from Bible verses. The path to the public market has been challenging, but the investors remain unwavering in their faith and commitment to Truth Social. The impending merger with Digital World Acquisition Corp (DWAC) is expected to provide much-needed capital to Trump Media & Technology Group, despite the company’s financial struggles. The market capitalization of the new entity is estimated to be $6.3 billion, a figure that defies economic logic. Despite the uncertainties, the fervent supporters remain dedicated to their cause, demonstrating unwavering loyalty to Truth Social and its mission.
2024-03-20 12:55:31
Link from www.economist.com