IPOs + SPACs of Interest

[gfp927z]

DWAC, Rumble - >>> 2 Stocks Surging on Donald Trump's Presidential Bid


Benzinga

by Joey Solitro

January 23, 2024


https://finance.yahoo.com/news/2-stocks-surging-donald-trumps-163750792.html


After Donald Trump's decisive win in the Iowa caucus and two opponents dropping out and endorsing him – Vivek Ramaswamy and Ron Desantis – it’s becoming clear who the Republican nominee will be. All the while, two stocks have seen strong rallies on Trump’s chances to make his return to the White House, and they could continue higher following the New Hampshire primary, where Trump is the hands-down favorite.

Let’s take a look at each.

Digital World Acquisition Corp.

Digital World Acquisition Corp. (NASDAQ:DWAC) is a special purpose acquisition corporation (SPAC) that is trying to merge with the former president's Trump Media & Technology Group, which is behind the Truth Social app.

Digital World’s stock has surged over 175% since Trump’s win in Iowa, including a rally of over 88% yesterday. While the valuation of the combined company may be getting a bit rich, there’s no telling where traders could take it going forward, especially if the merger with Truth Social closes.

Rumble Inc.

Rumble Inc. (NASDAQ:RUM) is an online video-sharing platform that has set itself apart from competitors by allowing people to share anything that they believe in without the fear of being restricted or taken down. This has resonated well with conservative voices who said they were removed or shadow-banned on other platforms.

Rumble’s stock has surged more than 60% since Trump’s win in Iowa, including a rally of more than 15% at the start of trading today. Yesterday’s rally of more than 36% was helped by announcement of a partnership with Barstool Sports.

<<<



---