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social media.  Wall Street loves Donald Trump's social network

social media. Wall Street loves Donald Trump’s social network

Wall Street appears to have immediately focused on what promises to be also an interesting financial operation soon after the initiative’s economic success: Donald Trump’s new social media. The launch of the operation actually involves Spac Digital World Acquisition Corp (Dwac).

The private acquisition firm (Spac) with which Trump’s company intends to merge opened to go public Thursday last week at $12.73 but took off immediately, with a hold due to excessive volatility.

At the moment, the process is successfully taking place on the stock exchange, considering that the initial public offering of Dwa on September 8 raised $ 287.5 million, according to a document submitted to the Securities and Exchange.

And on October 24, with a capital of 1.47 billion, it already became a “unicorn”, exceeding the value of one billion dollars, and almost doubling its value six times in less than a month and a half.

The initial version of Truth will be available from November to a small group of “guests” and then become available to the general public in the first three months of 2022.

Former US President Donald Trump has actually announced that he wants to launch his own platform on the social network called “Truth Social”.

The platform owned by the new business tycoon, Trump Media and Technology Group (TMTG), also intends to launch a video-on-demand subscription service; The goal is to provide an entertainment program.

Donald Trump said he created the Truth Social and TMTG to oppose the tyranny of Big Tech: “We live in a world where the Taliban has a huge Twitter presence, but your favorite American president has been silenced. This is unacceptable,” the former US president said.

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Trump, in fact, due to statements he made before and after January 6, the day of the attack on the US Congress, has been temporarily banned from both Twitter and Facebook.

Salvatore Nicoletta