The move that many Digital World Acquisition Corp. (NASDAQ:DWAC) investors have been waiting for is one step closer to occurring, and a potential merger with the Trump Media and Technology Group could be about to arrive. The notion was enough to send the special purpose acquisition company’s (SPAC) shares on an upward tear, gaining over 15% in Thursday afternoon’s trading.
The move to unite Digital World with Trump Media has been long in the making (since October 2021), and now, it’s passed its latest hurdle. The Securities and Exchange Commission (SEC) declared the registration statement that would combine the two to be effective following the close of trading on Wednesday. With that in place, Digital World shareholders can now vote on the merger. Should the vote pass shareholder muster, the two will combine.
What Is the Forecast for DWAC Stock?
DWAC stock does not have analyst coverage. Given that it is still a SPAC, it’s future performance cannot be forecast. Nevertheless, looking at the last five days in trading for DWAC stock shows that it tends to plateau, aside from occasional wild movements in either direction. You can see that it was flat in the early part of the period until there was a drop on February 13. It remained at that level until earlier today when it shot up, behaved erratically, and then assumed an entirely new plateau around the $50 level.
