A company’s stock jumps 1225% after news of a merger with Trump Media Company

0
34


The media company of former US President Donald Trump proved to be a fast success for day traders as it was able to achieve great popularity among day traders.
Digital World Acquisition Corp.’s stock has skyrocketed 1225% since it was announced that the company, a blank check known as a special purpose buyout firm, would merge with Trump’s Media Technology Group.
The company’s share jumped nearly threefold to reach $131.90, when the US stock market opened this morning, before trading was halted due to volatility after the share price increased fourfold yesterday.
Trump supporters on social media pumped the stock on Reddit and Stocktwits, which led to a spike in trading.
Yesterday, according to Bloomberg, the stock of the special purpose acquisition company was at the top of the buying list on the Fidelity trading platform, with about 55 thousand purchase orders from consumers.





LEAVE A REPLY

Please enter your comment!
Please enter your name here