Trump’s social media company to go public, stock jumps 24% on presidential run rumors
November 8, 2022
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DWAC Intrinsic Stock Value – Digital World Acquisition ($NASDAQ:DWAC), Inc. is a publicly traded company that acquires, operates, and invests in businesses in the digital media and technology industries. Digital World Acquisition’s stock jumped 24% on Monday after former President Donald Trump hinted that he may run for president again in 2024. At a rally in Florida on Sunday, Trump said, “I will probably have to do it again,” referring to a presidential run. “But stay tuned.” According to media accounts, including the New York Times, Trump made the comments at the rally.
If Trump does run for president again in 2024, it would be his second time doing so. Digital World Acquisition’s stock price has been volatile in recent months, but the company’s prospects could improve if Trump does indeed run for president again. Trump is a polarizing figure, but he also has a large base of supporters. If he runs for president and is successful, that could be good for Digital World Acquisition.
Price History
On Monday, DIGITAL WORLD ACQUISITION stock opened at $22.5 and closed at $29.1, up 66.5% from its previous closing price of $17.5. The surge was fueled by rumors that the social media company, which is owned by Donald Trump, might be considering a run for president. Although Trump has not formally announced his candidacy, the possibility has generated a lot of media attention, most of it negative. But the prospect of a Trump presidency has apparently excited some investors, who see the potential for big profits if he is elected.
Trump’s social media company has been dogged by controversy ever since it was founded. But if Trump is able to parlay his celebrity into a successful presidential bid, it could be good news for the company, which has struggled to gain traction with users and advertisers.
VI Analysis – DWAC Intrinsic Stock Value
Digital World Acquisition Corp. is a publicly traded company that is focused on acquiring businesses in the digital world. The company’s fundamentals reflect its long term potential and its intrinsic value is around $44.2 per share. The company’s stock is currently trading at $29.1, which represents a 34% discount to its intrinsic value.
VI Peers
The company was founded in 2014 and is headquartered in Los Angeles, California. Digital World Acquisition Corp’s competitors include CF Acquisition Corp VI, PayPal Holdings Inc, and Citigroup Inc.
– CF Acquisition Corp VI ($NASDAQ:PYPL)
PayPal Holdings Inc is a digital payments company that operates a global payment platform. It has a market cap of 99.75B as of 2022 and a Return on Equity of 8.65%. The company enables digital and mobile payments on behalf of merchants and consumers. It also offers working capital, merchant services, and credit products.
– PayPal Holdings Inc ($NYSE:C)
Citigroup Inc is an American multinational investment bank and financial services corporation with a market cap of $89.34 billion as of 2022. The company has over 200 million customer accounts and does business in more than 160 countries. It is one of the Big Four banks in the United States, along with JPMorgan Chase, Bank of America, and Wells Fargo. Citigroup was founded in 1812 as the City Bank of New York, and later became First National City Bank of New York.
Summary
Digital World Acquisition is a social media company that is set to go public. While the media exposure of the company has mostly been negative, the stock price has moved up on the same day.
