Making SPACs Great Again? Trump Stock DWAC Surges 356%

On Thursday, a SPAC deal was announced to bring a new social media platform and other businesses from former President Donald Trump to the public markets.Trump Media & Technology Group is merging with $DIGITAL WORLD ACQUISITION CORP(DWAC.US)$ in a deal valuing the company at $875 million and up to $1.7 billion based on future earnouts. The company is planning to launch the TRUTH Social platform in beta in November.
Trump Media & Technology Group has its sites set on many technology giants, such as $Twitter (Delisted)(TWTR.US)$ $Disney(DIS.US)$ and CNN, among others.
Shares of DWAC ended the day up 356.8% to $45.50. The warrants, which trade as DWACW were up 2,114% to $11.29.