Trump-Linked SPAC Stock Soars Amid 2024 Election Success

Despite financial struggles and merger uncertainties, Digital World Acquisition Corp.'s stock triples following Trump's Iowa caucus victory.

Digital World Acquisition Corp., the SPAC associated with former President Donald Trump, has seen its share price triple since Trump's victory in the Iowa caucuses.
Despite the company's financial struggles and the uncertainty surrounding its proposed merger with Trump's Truth Social media platform, the stock's surge appears to be driven by Trump's political success.
The stock has become a popular choice for investors betting on Trump's political fortunes, with its value increasing as Trump's rivals drop out of the 2024 race and endorse him.
However, experts warn that the stock is grossly overvalued and its rise is not based on the company's profitability now or in the future.
Trump's next election challenge is the New Hampshire primary, where he is expected to face former South Carolina Governor Nikki Haley.