Trying to make sense of Donald Trump's SPAC? We break it down for you._老虎社区_美港股上老虎

Trying to make sense of Donald Trump's SPAC? We break it down for you.

Business Insider2021-10-22

Former president Donald Trump is taking his social media company public via SPAC merger. Shares of the SPAC, Digital World Acquisition Company, more than quadrupled in price on the news. Here we ...

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104

Kamarulzaman
·2021-10-26
Bullish guys
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Kelvin_Qiu
·2021-10-25
Would it be a pump & dump[贱笑]
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2
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KLok
·2021-10-23
More lies......probably....
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1
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Syin23
·2021-10-22
Wow... Powerful [哇塞]
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1
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Ahlec
·2021-10-22
Donald [fill in the blank]
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1
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MHh
·2021-10-22
Interesting… on many levels. What does thismean for the big tech and consequently their share prices? Socially, how will this transform the sharing of information and the degree of truth in each?
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6
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- MHh:
  Throw in some wildness too!
  2021-10-22
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Jialatsia
·2021-10-22
Meep
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1
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Bll
·2021-10-22
Interesting
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4
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IamIronman
·2021-10-22
MAGA !!!
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2
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Foxie
·2021-10-22
Mango powerrrrrrr
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1
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Zhem
·2021-10-22
Ho
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3
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NgaBNN86
·2021-10-22
So exciting
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1
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HENRYCSC
·2021-10-22
Ok
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Kel9670ong
·2021-10-22
Any substantial value in the company ?
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2
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gsr45
·2021-10-22
lol junk spacs fly.. Welcome to America.. watch $phun and $crtd to follow suit
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2
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gsr45
·2021-10-22
Great ariticle, would you like to share it?
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1
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KYHBKO
·2021-10-22
a social media platform for his 2024 election.there will be trump fans who buy this. there will be non trump fans who will avoid this. more importantly, the company will need to make money and have good fundamentals to ensure a strong demand. it is off to a good start for sure and this should continue for a while. it needs the future earnings to consolidate its position.
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4
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Jessemyne
·2021-10-22
The company name sounds as crazy as him. 🥸
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3
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Pixiestars
·2021-10-22
Madness! Will be the next Gamestop.
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4
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- Chifield:
  MAGA!
  2021-10-22
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- Foxie:
  🚀🚀
  2021-10-22
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Chimmy
·2021-10-22
All those MAGA mad Trump supporters are really out in full force.Not sure if I should get in now or monitor further because their plans isnt exactly solid and what are they selling or producing actually?!?
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4
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- Bob87:
  Maga hats [开心]
  2021-10-22
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The stock ticker \"DWAC\" trended on Twitter following the announcement.\nAs the news goes viral, here are the answers to burning questions about the art of Trump's latest deal.\nSo what is a SPAC, again?\nSPACs were a nearly dormant financial tool for taking companies public until right around the start of the COVID-19 pandemic, at which point the market became a feeding frenzy for investors, speculators, and retail traders looking to cash in on private companies with big potential for growth.\nA SPAC is just a small public company with a whole lot of cash that has one simple goal: to take a private company public. They are also known as \"blank-check\" companies and the process for a company to go public via SPAC can be easier than the traditional IPO route.\nTo form a SPAC, a few people, often former bankers or corporate executives and sometimes celebrities, get together in the hopes of finding a worthwhile private company. First, the SPAC goes public, issuing shares and raising money from investors. SPAC shares are usually sold at $10 apiece - just like in the case of Trump Media's Digital World Acquisition Corp. SPAC, which raised about $283 million in its IPO, according to a filing with regulators.\nThat war chest of cash will eventually be used to strike a deal with a target company. Digital World Acquisition found Trump Media & Technology Group.\nDWAC stock is up how much?\n357% at Thursday's close! Intraday, it was up even more, gaining more than 400% before pulling back.\nWe've seen SPAC stocks go wild after announcing the target company - but not this wild. SPAC stocks normally jump after the deal is announced, even though the target company isn't public yet (shareholders still need to give the thumbs up).\nThe stock closed Thursday at $45.50, up from $9.96 the previous day. It was the most-traded stock on the market Thursday, with over 470 million shares changing hands.\nWho's behind this SPAC?\nPatrick Orlando is the SPAC's CEO. He's a former investment banker and has a hefty background in the SPAC business (he's been part of three before this one). The company's chief financial officer is Luis Orleans-Braganza, who currently serves on Brazil's National Congress.\nIf you haven't heard of either of them, you may have heard of some of the high flying hedge funds that have invested in the SPAC, like Highbridge Capital Management, Lighthouse Partners, K2 Principal Fund, and Saba Capital Management. They all likely made a killing on Thursday's wild price action.\nSo what's going on here?\nBasically, Orlando incorporated Digital World Acquisition in Miami about a month after Trump lost the election, with the goal of merging with a \"leading emerging growth technology company.\"\nThen today, his SPAC announced it would be taking Trump Media & Technology Group public, on the condition of shareholder approval.\nBut unlike in other SPAC mergers where the target company discloses its financial statements or future revenue potential, the Trump Media & Technology Group doesn't have much in the way of financial projections - even though it got a $1.7 billion valuation in the merger.\nThe goal of the future company is to \"create a rival to the liberal media consortium and fight back against the 'Big Tech' companies of Silicon Valley, which have used their unilateral power to silence opposing voices in America.\" The first step is launching a new site called Truth Social.\nWhat is Truth Social?\nThat remains to be seen. The future social media site hasn't actually launched yet, but it has a waitlist. The statement said the eventual site aims to \"stand up to the tyranny of Big Tech.\nTrump has been wanting to get back on social media since being banned from Twitter and Facebook following the January 6 insurrection - and it hasn't been easy. At first, he tried sending tweets from other people's accounts. Then he launched a blog called \"From the Desk of Donald J. Trump\" that flopped.\n\"We live in a world where the Taliban has a huge presence on Twitter, yet your favorite American President has been silenced. This is unacceptable,\" he said. \"I am excited to send out my first TRUTH on TRUTH Social very soon. TMTG was founded with a mission to give a voice to all.\"\nA beta version of the site could launch as soon as November 2021.\nIs this thing for real?\nEven so, Trump's company going public is all dependent on shareholder approval. According to Julian Klymochko who runs a SPAC-focused exchange-traded fund, he's never seen a SPAC deal get voted down. Shareholders are incentivized to approve it because of assets called warrants that they receive at the beginning of the SPAC. No deal, and those warrants are worthless.\nIs this the next meme stock?\nIf price action is any indication, it might already be a meme. 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We break it down for you.","url":"https://stock-news.laohu8.com/highlight/detail?id=1101284007","media":"Business Insider","summary":"Former president Donald Trump is taking his social media company public via SPAC merger.\nShares of t","content":"<ul>\n <li>Former president Donald Trump is taking his social media company public via SPAC merger.</li>\n <li>Shares of the SPAC, Digital World Acquisition Company, more than quadrupled in price on the news.</li>\n <li>Here we answer your burning questions on what's going on with this deal.</li>\n</ul>\nThe SPAC craze is back, riding high on the former president's social media ambitions.\nDonald Trump's soon-to-be-launched social media site, Truth Social, announced Thursday its plans to go public through a special purpose acquisition company, aka a SPAC, called Digital World Acquisition Company. The stock ticker \"DWAC\" trended on Twitter following the announcement.\nAs the news goes viral, here are the answers to burning questions about the art of Trump's latest deal.\nSo what is a SPAC, again?\nSPACs were a nearly dormant financial tool for taking companies public until right around the start of the COVID-19 pandemic, at which point the market became a feeding frenzy for investors, speculators, and retail traders looking to cash in on private companies with big potential for growth.\nA SPAC is just&nbsp;a small public company&nbsp;with a whole lot of cash that has one simple goal: to take a private company public. They are also known as \"blank-check\" companies and the process for a company to go public via SPAC can be easier than the traditional IPO route.\nTo form a SPAC, a few people, often former bankers or corporate executives and sometimes celebrities, get together in the hopes of finding a worthwhile private company. First, the SPAC goes public, issuing shares and raising money from investors. SPAC shares are usually sold at $10 apiece - just like in the case of Trump Media's Digital World Acquisition Corp. SPAC, which raised about $283 million in its IPO, according to a filing with regulators.\nThat war chest of cash will eventually be used to strike a deal with a target company. Digital World Acquisition found Trump Media &amp; Technology Group.\nDWAC stock is up how much?\n357% at Thursday's close! Intraday, it was up even more, gaining more than 400% before pulling back.\nWe've seen&nbsp;SPAC stocks go wild&nbsp;after announcing the target company - but not this wild. SPAC stocks normally jump after the deal is announced, even though the target company isn't public yet (shareholders still need to give the thumbs up).\nThe stock closed Thursday at $45.50, up from $9.96 the previous day. It was the most-traded stock on the market Thursday, with over 470 million shares changing hands.\nWho's behind this SPAC?\nPatrick Orlando is the SPAC's CEO. He's a former investment banker and has a hefty background in the SPAC business (he's been part of three before this one). The company's chief financial officer is Luis Orleans-Braganza, who currently serves on Brazil's National Congress.\nIf you haven't heard of either of them, you may have heard of some of the high flying hedge funds that have invested in the SPAC, like Highbridge Capital Management, Lighthouse Partners, K2 Principal Fund, and Saba Capital Management. They all likely&nbsp;made a killing on&nbsp;Thursday's wild price action.\nSo what's going on here?\nBasically, Orlando incorporated Digital World Acquisition in Miami about a month after Trump lost the election, with the goal of merging with a \"leading emerging growth technology company.\"\nThen today, his SPAC announced it would be taking Trump Media &amp; Technology Group public, on the condition of shareholder approval.\nBut unlike in other SPAC mergers where the target company discloses its financial statements or future revenue potential, the Trump Media &amp; Technology Group doesn't have much in the way of financial projections - even though it got a $1.7 billion valuation in the merger.\nThe goal of the future company is to \"create a rival to the liberal media consortium and fight back against the 'Big Tech' companies of Silicon Valley, which have used their unilateral power to silence opposing voices in America.\" The first step is launching a new site called Truth Social.\nWhat is Truth Social?\nThat remains to be seen. The future social media site hasn't actually launched yet, but it has a&nbsp;waitlist. The statement said the eventual site aims to \"stand up to the tyranny of Big Tech.\nTrump has been wanting to get back on social media since being banned from Twitter and Facebook following the January 6 insurrection - and it hasn't been easy. At first, he tried sending tweets from&nbsp;other people's accounts. Then he&nbsp;launched a blog&nbsp;called \"From the Desk of Donald J. Trump\" that flopped.\n\"We live in a world where the Taliban has a huge presence on Twitter, yet your favorite American President has been silenced. This is unacceptable,\" he said. \"I am excited to send out my first TRUTH on TRUTH Social very soon. TMTG was founded with a mission to give a voice to all.\"\nA beta version of the site could launch as soon as November 2021.\nIs this thing for real?\nEven so, Trump's company going public is all dependent on shareholder approval. According to Julian Klymochko who&nbsp;runs a SPAC-focused exchange-traded fund, he's never seen a SPAC deal get voted down. Shareholders are incentivized to approve it because of assets called warrants that they receive at the beginning of the SPAC. No deal, and those warrants are worthless.\nIs this the next meme stock?\nIf price action is any indication, it might already be a meme. On top of that, retail traders are piling on, a necessary prerequisite for a stock to achieve meme status.According to Bloomberg, Fidelity logged 55,000 buy orders for shares of the SPAC on Thursday.","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Trying to make sense of Donald Trump's SPAC? 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We break it down for you.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-10-22 14:34 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://markets.businessinsider.com/news/stocks/donald-trump-spac-digital-world-acquisition-truth-social-explained-2021-10>Business Insider</a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\nFormer president Donald Trump is taking his social media company public via SPAC merger.\nShares of the SPAC, Digital World Acquisition Company, more than quadrupled in price on the news.\nHere we ...\n\n<a href=\"https://markets.businessinsider.com/news/stocks/donald-trump-spac-digital-world-acquisition-truth-social-explained-2021-10\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://markets.businessinsider.com/news/stocks/donald-trump-spac-digital-world-acquisition-truth-social-explained-2021-10","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1101284007","content_text":"Former president Donald Trump is taking his social media company public via SPAC merger.\nShares of the SPAC, Digital World Acquisition Company, more than quadrupled in price on the news.\nHere we answer your burning questions on what's going on with this deal.\n\nThe SPAC craze is back, riding high on the former president's social media ambitions.\nDonald Trump's soon-to-be-launched social media site, Truth Social, announced Thursday its plans to go public through a special purpose acquisition company, aka a SPAC, called Digital World Acquisition Company. The stock ticker \"DWAC\" trended on Twitter following the announcement.\nAs the news goes viral, here are the answers to burning questions about the art of Trump's latest deal.\nSo what is a SPAC, again?\nSPACs were a nearly dormant financial tool for taking companies public until right around the start of the COVID-19 pandemic, at which point the market became a feeding frenzy for investors, speculators, and retail traders looking to cash in on private companies with big potential for growth.\nA SPAC is just a small public company with a whole lot of cash that has one simple goal: to take a private company public. They are also known as \"blank-check\" companies and the process for a company to go public via SPAC can be easier than the traditional IPO route.\nTo form a SPAC, a few people, often former bankers or corporate executives and sometimes celebrities, get together in the hopes of finding a worthwhile private company. First, the SPAC goes public, issuing shares and raising money from investors. SPAC shares are usually sold at $10 apiece - just like in the case of Trump Media's Digital World Acquisition Corp. SPAC, which raised about $283 million in its IPO, according to a filing with regulators.\nThat war chest of cash will eventually be used to strike a deal with a target company. Digital World Acquisition found Trump Media & Technology Group.\nDWAC stock is up how much?\n357% at Thursday's close! Intraday, it was up even more, gaining more than 400% before pulling back.\nWe've seen SPAC stocks go wild after announcing the target company - but not this wild. SPAC stocks normally jump after the deal is announced, even though the target company isn't public yet (shareholders still need to give the thumbs up).\nThe stock closed Thursday at $45.50, up from $9.96 the previous day. It was the most-traded stock on the market Thursday, with over 470 million shares changing hands.\nWho's behind this SPAC?\nPatrick Orlando is the SPAC's CEO. He's a former investment banker and has a hefty background in the SPAC business (he's been part of three before this one). The company's chief financial officer is Luis Orleans-Braganza, who currently serves on Brazil's National Congress.\nIf you haven't heard of either of them, you may have heard of some of the high flying hedge funds that have invested in the SPAC, like Highbridge Capital Management, Lighthouse Partners, K2 Principal Fund, and Saba Capital Management. They all likely made a killing on Thursday's wild price action.\nSo what's going on here?\nBasically, Orlando incorporated Digital World Acquisition in Miami about a month after Trump lost the election, with the goal of merging with a \"leading emerging growth technology company.\"\nThen today, his SPAC announced it would be taking Trump Media & Technology Group public, on the condition of shareholder approval.\nBut unlike in other SPAC mergers where the target company discloses its financial statements or future revenue potential, the Trump Media & Technology Group doesn't have much in the way of financial projections - even though it got a $1.7 billion valuation in the merger.\nThe goal of the future company is to \"create a rival to the liberal media consortium and fight back against the 'Big Tech' companies of Silicon Valley, which have used their unilateral power to silence opposing voices in America.\" The first step is launching a new site called Truth Social.\nWhat is Truth Social?\nThat remains to be seen. The future social media site hasn't actually launched yet, but it has a waitlist. The statement said the eventual site aims to \"stand up to the tyranny of Big Tech.\nTrump has been wanting to get back on social media since being banned from Twitter and Facebook following the January 6 insurrection - and it hasn't been easy. At first, he tried sending tweets from other people's accounts. Then he launched a blog called \"From the Desk of Donald J. Trump\" that flopped.\n\"We live in a world where the Taliban has a huge presence on Twitter, yet your favorite American President has been silenced. This is unacceptable,\" he said. \"I am excited to send out my first TRUTH on TRUTH Social very soon. TMTG was founded with a mission to give a voice to all.\"\nA beta version of the site could launch as soon as November 2021.\nIs this thing for real?\nEven so, Trump's company going public is all dependent on shareholder approval. According to Julian Klymochko who runs a SPAC-focused exchange-traded fund, he's never seen a SPAC deal get voted down. Shareholders are incentivized to approve it because of assets called warrants that they receive at the beginning of the SPAC. No deal, and those warrants are worthless.\nIs this the next meme stock?\nIf price action is any indication, it might already be a meme. On top of that, retail traders are piling on, a necessary prerequisite for a stock to achieve meme status.According to Bloomberg, Fidelity logged 55,000 buy orders for shares of the SPAC on Thursday.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":856975709,"gmtCreate":1635147767589,"gmtModify":1635147837956,"author":{"id":"3581638828642415","authorId":"3581638828642415","name":"Kelvin_Qiu","avatar":"https://static.tigerbbs.com/58df4d9e030a9766be7d0b65f5e798af","vip":1,"crmLevel":4,"crmLevelSwitch":0,"idStr":"3581638828642415","authorIdStr":"3581638828642415"},"htmlText":"Would it be a pump &amp; dump[贱笑]&nbsp;","listText":"Would it be a pump &amp; dump[贱笑]&nbsp;","text":"Would it be a pump & dump[贱笑]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/856975709","repostId":1101284007,"repostType":4,"repost":{"id":"1101284007","kind":"news","pubTimestamp":1634884490,"share":"https://www.laohu8.com/m/news/1101284007?lang=&edition=full","pubTime":"2021-10-22 14:34","market":"us","language":"en","title":"Trying to make sense of Donald Trump's SPAC? We break it down for you.","url":"https://stock-news.laohu8.com/highlight/detail?id=1101284007","media":"Business Insider","summary":"Former president Donald Trump is taking his social media company public via SPAC merger.\nShares of t","content":"<ul>\n <li>Former president Donald Trump is taking his social media company public via SPAC merger.</li>\n <li>Shares of the SPAC, Digital World Acquisition Company, more than quadrupled in price on the news.</li>\n <li>Here we answer your burning questions on what's going on with this deal.</li>\n</ul>\nThe SPAC craze is back, riding high on the former president's social media ambitions.\nDonald Trump's soon-to-be-launched social media site, Truth Social, announced Thursday its plans to go public through a special purpose acquisition company, aka a SPAC, called Digital World Acquisition Company. The stock ticker \"DWAC\" trended on Twitter following the announcement.\nAs the news goes viral, here are the answers to burning questions about the art of Trump's latest deal.\nSo what is a SPAC, again?\nSPACs were a nearly dormant financial tool for taking companies public until right around the start of the COVID-19 pandemic, at which point the market became a feeding frenzy for investors, speculators, and retail traders looking to cash in on private companies with big potential for growth.\nA SPAC is just&nbsp;a small public company&nbsp;with a whole lot of cash that has one simple goal: to take a private company public. They are also known as \"blank-check\" companies and the process for a company to go public via SPAC can be easier than the traditional IPO route.\nTo form a SPAC, a few people, often former bankers or corporate executives and sometimes celebrities, get together in the hopes of finding a worthwhile private company. First, the SPAC goes public, issuing shares and raising money from investors. SPAC shares are usually sold at $10 apiece - just like in the case of Trump Media's Digital World Acquisition Corp. SPAC, which raised about $283 million in its IPO, according to a filing with regulators.\nThat war chest of cash will eventually be used to strike a deal with a target company. Digital World Acquisition found Trump Media &amp; Technology Group.\nDWAC stock is up how much?\n357% at Thursday's close! Intraday, it was up even more, gaining more than 400% before pulling back.\nWe've seen&nbsp;SPAC stocks go wild&nbsp;after announcing the target company - but not this wild. SPAC stocks normally jump after the deal is announced, even though the target company isn't public yet (shareholders still need to give the thumbs up).\nThe stock closed Thursday at $45.50, up from $9.96 the previous day. It was the most-traded stock on the market Thursday, with over 470 million shares changing hands.\nWho's behind this SPAC?\nPatrick Orlando is the SPAC's CEO. He's a former investment banker and has a hefty background in the SPAC business (he's been part of three before this one). The company's chief financial officer is Luis Orleans-Braganza, who currently serves on Brazil's National Congress.\nIf you haven't heard of either of them, you may have heard of some of the high flying hedge funds that have invested in the SPAC, like Highbridge Capital Management, Lighthouse Partners, K2 Principal Fund, and Saba Capital Management. They all likely&nbsp;made a killing on&nbsp;Thursday's wild price action.\nSo what's going on here?\nBasically, Orlando incorporated Digital World Acquisition in Miami about a month after Trump lost the election, with the goal of merging with a \"leading emerging growth technology company.\"\nThen today, his SPAC announced it would be taking Trump Media &amp; Technology Group public, on the condition of shareholder approval.\nBut unlike in other SPAC mergers where the target company discloses its financial statements or future revenue potential, the Trump Media &amp; Technology Group doesn't have much in the way of financial projections - even though it got a $1.7 billion valuation in the merger.\nThe goal of the future company is to \"create a rival to the liberal media consortium and fight back against the 'Big Tech' companies of Silicon Valley, which have used their unilateral power to silence opposing voices in America.\" The first step is launching a new site called Truth Social.\nWhat is Truth Social?\nThat remains to be seen. The future social media site hasn't actually launched yet, but it has a&nbsp;waitlist. The statement said the eventual site aims to \"stand up to the tyranny of Big Tech.\nTrump has been wanting to get back on social media since being banned from Twitter and Facebook following the January 6 insurrection - and it hasn't been easy. At first, he tried sending tweets from&nbsp;other people's accounts. Then he&nbsp;launched a blog&nbsp;called \"From the Desk of Donald J. Trump\" that flopped.\n\"We live in a world where the Taliban has a huge presence on Twitter, yet your favorite American President has been silenced. This is unacceptable,\" he said. \"I am excited to send out my first TRUTH on TRUTH Social very soon. TMTG was founded with a mission to give a voice to all.\"\nA beta version of the site could launch as soon as November 2021.\nIs this thing for real?\nEven so, Trump's company going public is all dependent on shareholder approval. According to Julian Klymochko who&nbsp;runs a SPAC-focused exchange-traded fund, he's never seen a SPAC deal get voted down. Shareholders are incentivized to approve it because of assets called warrants that they receive at the beginning of the SPAC. No deal, and those warrants are worthless.\nIs this the next meme stock?\nIf price action is any indication, it might already be a meme. On top of that, retail traders are piling on, a necessary prerequisite for a stock to achieve meme status.According to Bloomberg, Fidelity logged 55,000 buy orders for shares of the SPAC on Thursday.","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Trying to make sense of Donald Trump's SPAC? We break it down for you.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTrying to make sense of Donald Trump's SPAC? We break it down for you.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-10-22 14:34 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://markets.businessinsider.com/news/stocks/donald-trump-spac-digital-world-acquisition-truth-social-explained-2021-10>Business Insider</a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\nFormer president Donald Trump is taking his social media company public via SPAC merger.\nShares of the SPAC, Digital World Acquisition Company, more than quadrupled in price on the news.\nHere we ...\n\n<a href=\"https://markets.businessinsider.com/news/stocks/donald-trump-spac-digital-world-acquisition-truth-social-explained-2021-10\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://markets.businessinsider.com/news/stocks/donald-trump-spac-digital-world-acquisition-truth-social-explained-2021-10","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1101284007","content_text":"Former president Donald Trump is taking his social media company public via SPAC merger.\nShares of the SPAC, Digital World Acquisition Company, more than quadrupled in price on the news.\nHere we answer your burning questions on what's going on with this deal.\n\nThe SPAC craze is back, riding high on the former president's social media ambitions.\nDonald Trump's soon-to-be-launched social media site, Truth Social, announced Thursday its plans to go public through a special purpose acquisition company, aka a SPAC, called Digital World Acquisition Company. The stock ticker \"DWAC\" trended on Twitter following the announcement.\nAs the news goes viral, here are the answers to burning questions about the art of Trump's latest deal.\nSo what is a SPAC, again?\nSPACs were a nearly dormant financial tool for taking companies public until right around the start of the COVID-19 pandemic, at which point the market became a feeding frenzy for investors, speculators, and retail traders looking to cash in on private companies with big potential for growth.\nA SPAC is just a small public company with a whole lot of cash that has one simple goal: to take a private company public. They are also known as \"blank-check\" companies and the process for a company to go public via SPAC can be easier than the traditional IPO route.\nTo form a SPAC, a few people, often former bankers or corporate executives and sometimes celebrities, get together in the hopes of finding a worthwhile private company. First, the SPAC goes public, issuing shares and raising money from investors. SPAC shares are usually sold at $10 apiece - just like in the case of Trump Media's Digital World Acquisition Corp. SPAC, which raised about $283 million in its IPO, according to a filing with regulators.\nThat war chest of cash will eventually be used to strike a deal with a target company. Digital World Acquisition found Trump Media & Technology Group.\nDWAC stock is up how much?\n357% at Thursday's close! Intraday, it was up even more, gaining more than 400% before pulling back.\nWe've seen SPAC stocks go wild after announcing the target company - but not this wild. SPAC stocks normally jump after the deal is announced, even though the target company isn't public yet (shareholders still need to give the thumbs up).\nThe stock closed Thursday at $45.50, up from $9.96 the previous day. It was the most-traded stock on the market Thursday, with over 470 million shares changing hands.\nWho's behind this SPAC?\nPatrick Orlando is the SPAC's CEO. He's a former investment banker and has a hefty background in the SPAC business (he's been part of three before this one). The company's chief financial officer is Luis Orleans-Braganza, who currently serves on Brazil's National Congress.\nIf you haven't heard of either of them, you may have heard of some of the high flying hedge funds that have invested in the SPAC, like Highbridge Capital Management, Lighthouse Partners, K2 Principal Fund, and Saba Capital Management. They all likely made a killing on Thursday's wild price action.\nSo what's going on here?\nBasically, Orlando incorporated Digital World Acquisition in Miami about a month after Trump lost the election, with the goal of merging with a \"leading emerging growth technology company.\"\nThen today, his SPAC announced it would be taking Trump Media & Technology Group public, on the condition of shareholder approval.\nBut unlike in other SPAC mergers where the target company discloses its financial statements or future revenue potential, the Trump Media & Technology Group doesn't have much in the way of financial projections - even though it got a $1.7 billion valuation in the merger.\nThe goal of the future company is to \"create a rival to the liberal media consortium and fight back against the 'Big Tech' companies of Silicon Valley, which have used their unilateral power to silence opposing voices in America.\" The first step is launching a new site called Truth Social.\nWhat is Truth Social?\nThat remains to be seen. The future social media site hasn't actually launched yet, but it has a waitlist. The statement said the eventual site aims to \"stand up to the tyranny of Big Tech.\nTrump has been wanting to get back on social media since being banned from Twitter and Facebook following the January 6 insurrection - and it hasn't been easy. At first, he tried sending tweets from other people's accounts. Then he launched a blog called \"From the Desk of Donald J. Trump\" that flopped.\n\"We live in a world where the Taliban has a huge presence on Twitter, yet your favorite American President has been silenced. This is unacceptable,\" he said. \"I am excited to send out my first TRUTH on TRUTH Social very soon. TMTG was founded with a mission to give a voice to all.\"\nA beta version of the site could launch as soon as November 2021.\nIs this thing for real?\nEven so, Trump's company going public is all dependent on shareholder approval. According to Julian Klymochko who runs a SPAC-focused exchange-traded fund, he's never seen a SPAC deal get voted down. Shareholders are incentivized to approve it because of assets called warrants that they receive at the beginning of the SPAC. No deal, and those warrants are worthless.\nIs this the next meme stock?\nIf price action is any indication, it might already be a meme. On top of that, retail traders are piling on, a necessary prerequisite for a stock to achieve meme status.According to Bloomberg, Fidelity logged 55,000 buy orders for shares of the SPAC on Thursday.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":851736632,"gmtCreate":1634943784963,"gmtModify":1634943967989,"author":{"id":"3582450584533032","authorId":"3582450584533032","name":"KLok","avatar":"https://static.tigerbbs.com/7d135114c7d99f91051322404730d3e0","vip":1,"crmLevel":3,"crmLevelSwitch":0,"idStr":"3582450584533032","authorIdStr":"3582450584533032"},"htmlText":"More lies......probably....","listText":"More lies......probably....","text":"More lies......probably....","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/851736632","repostId":1101284007,"repostType":2,"repost":{"id":"1101284007","kind":"news","pubTimestamp":1634884490,"share":"https://www.laohu8.com/m/news/1101284007?lang=&edition=full","pubTime":"2021-10-22 14:34","market":"us","language":"en","title":"Trying to make sense of Donald Trump's SPAC? We break it down for you.","url":"https://stock-news.laohu8.com/highlight/detail?id=1101284007","media":"Business Insider","summary":"Former president Donald Trump is taking his social media company public via SPAC merger.\nShares of t","content":"<ul>\n <li>Former president Donald Trump is taking his social media company public via SPAC merger.</li>\n <li>Shares of the SPAC, Digital World Acquisition Company, more than quadrupled in price on the news.</li>\n <li>Here we answer your burning questions on what's going on with this deal.</li>\n</ul>\nThe SPAC craze is back, riding high on the former president's social media ambitions.\nDonald Trump's soon-to-be-launched social media site, Truth Social, announced Thursday its plans to go public through a special purpose acquisition company, aka a SPAC, called Digital World Acquisition Company. The stock ticker \"DWAC\" trended on Twitter following the announcement.\nAs the news goes viral, here are the answers to burning questions about the art of Trump's latest deal.\nSo what is a SPAC, again?\nSPACs were a nearly dormant financial tool for taking companies public until right around the start of the COVID-19 pandemic, at which point the market became a feeding frenzy for investors, speculators, and retail traders looking to cash in on private companies with big potential for growth.\nA SPAC is just&nbsp;a small public company&nbsp;with a whole lot of cash that has one simple goal: to take a private company public. They are also known as \"blank-check\" companies and the process for a company to go public via SPAC can be easier than the traditional IPO route.\nTo form a SPAC, a few people, often former bankers or corporate executives and sometimes celebrities, get together in the hopes of finding a worthwhile private company. First, the SPAC goes public, issuing shares and raising money from investors. SPAC shares are usually sold at $10 apiece - just like in the case of Trump Media's Digital World Acquisition Corp. SPAC, which raised about $283 million in its IPO, according to a filing with regulators.\nThat war chest of cash will eventually be used to strike a deal with a target company. Digital World Acquisition found Trump Media &amp; Technology Group.\nDWAC stock is up how much?\n357% at Thursday's close! Intraday, it was up even more, gaining more than 400% before pulling back.\nWe've seen&nbsp;SPAC stocks go wild&nbsp;after announcing the target company - but not this wild. SPAC stocks normally jump after the deal is announced, even though the target company isn't public yet (shareholders still need to give the thumbs up).\nThe stock closed Thursday at $45.50, up from $9.96 the previous day. It was the most-traded stock on the market Thursday, with over 470 million shares changing hands.\nWho's behind this SPAC?\nPatrick Orlando is the SPAC's CEO. He's a former investment banker and has a hefty background in the SPAC business (he's been part of three before this one). The company's chief financial officer is Luis Orleans-Braganza, who currently serves on Brazil's National Congress.\nIf you haven't heard of either of them, you may have heard of some of the high flying hedge funds that have invested in the SPAC, like Highbridge Capital Management, Lighthouse Partners, K2 Principal Fund, and Saba Capital Management. They all likely&nbsp;made a killing on&nbsp;Thursday's wild price action.\nSo what's going on here?\nBasically, Orlando incorporated Digital World Acquisition in Miami about a month after Trump lost the election, with the goal of merging with a \"leading emerging growth technology company.\"\nThen today, his SPAC announced it would be taking Trump Media &amp; Technology Group public, on the condition of shareholder approval.\nBut unlike in other SPAC mergers where the target company discloses its financial statements or future revenue potential, the Trump Media &amp; Technology Group doesn't have much in the way of financial projections - even though it got a $1.7 billion valuation in the merger.\nThe goal of the future company is to \"create a rival to the liberal media consortium and fight back against the 'Big Tech' companies of Silicon Valley, which have used their unilateral power to silence opposing voices in America.\" The first step is launching a new site called Truth Social.\nWhat is Truth Social?\nThat remains to be seen. The future social media site hasn't actually launched yet, but it has a&nbsp;waitlist. The statement said the eventual site aims to \"stand up to the tyranny of Big Tech.\nTrump has been wanting to get back on social media since being banned from Twitter and Facebook following the January 6 insurrection - and it hasn't been easy. At first, he tried sending tweets from&nbsp;other people's accounts. Then he&nbsp;launched a blog&nbsp;called \"From the Desk of Donald J. Trump\" that flopped.\n\"We live in a world where the Taliban has a huge presence on Twitter, yet your favorite American President has been silenced. This is unacceptable,\" he said. \"I am excited to send out my first TRUTH on TRUTH Social very soon. TMTG was founded with a mission to give a voice to all.\"\nA beta version of the site could launch as soon as November 2021.\nIs this thing for real?\nEven so, Trump's company going public is all dependent on shareholder approval. According to Julian Klymochko who&nbsp;runs a SPAC-focused exchange-traded fund, he's never seen a SPAC deal get voted down. Shareholders are incentivized to approve it because of assets called warrants that they receive at the beginning of the SPAC. No deal, and those warrants are worthless.\nIs this the next meme stock?\nIf price action is any indication, it might already be a meme. On top of that, retail traders are piling on, a necessary prerequisite for a stock to achieve meme status.According to Bloomberg, Fidelity logged 55,000 buy orders for shares of the SPAC on Thursday.","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Trying to make sense of Donald Trump's SPAC? We break it down for you.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTrying to make sense of Donald Trump's SPAC? We break it down for you.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-10-22 14:34 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://markets.businessinsider.com/news/stocks/donald-trump-spac-digital-world-acquisition-truth-social-explained-2021-10>Business Insider</a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\nFormer president Donald Trump is taking his social media company public via SPAC merger.\nShares of the SPAC, Digital World Acquisition Company, more than quadrupled in price on the news.\nHere we ...\n\n<a href=\"https://markets.businessinsider.com/news/stocks/donald-trump-spac-digital-world-acquisition-truth-social-explained-2021-10\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://markets.businessinsider.com/news/stocks/donald-trump-spac-digital-world-acquisition-truth-social-explained-2021-10","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1101284007","content_text":"Former president Donald Trump is taking his social media company public via SPAC merger.\nShares of the SPAC, Digital World Acquisition Company, more than quadrupled in price on the news.\nHere we answer your burning questions on what's going on with this deal.\n\nThe SPAC craze is back, riding high on the former president's social media ambitions.\nDonald Trump's soon-to-be-launched social media site, Truth Social, announced Thursday its plans to go public through a special purpose acquisition company, aka a SPAC, called Digital World Acquisition Company. The stock ticker \"DWAC\" trended on Twitter following the announcement.\nAs the news goes viral, here are the answers to burning questions about the art of Trump's latest deal.\nSo what is a SPAC, again?\nSPACs were a nearly dormant financial tool for taking companies public until right around the start of the COVID-19 pandemic, at which point the market became a feeding frenzy for investors, speculators, and retail traders looking to cash in on private companies with big potential for growth.\nA SPAC is just a small public company with a whole lot of cash that has one simple goal: to take a private company public. They are also known as \"blank-check\" companies and the process for a company to go public via SPAC can be easier than the traditional IPO route.\nTo form a SPAC, a few people, often former bankers or corporate executives and sometimes celebrities, get together in the hopes of finding a worthwhile private company. First, the SPAC goes public, issuing shares and raising money from investors. SPAC shares are usually sold at $10 apiece - just like in the case of Trump Media's Digital World Acquisition Corp. SPAC, which raised about $283 million in its IPO, according to a filing with regulators.\nThat war chest of cash will eventually be used to strike a deal with a target company. Digital World Acquisition found Trump Media & Technology Group.\nDWAC stock is up how much?\n357% at Thursday's close! Intraday, it was up even more, gaining more than 400% before pulling back.\nWe've seen SPAC stocks go wild after announcing the target company - but not this wild. SPAC stocks normally jump after the deal is announced, even though the target company isn't public yet (shareholders still need to give the thumbs up).\nThe stock closed Thursday at $45.50, up from $9.96 the previous day. It was the most-traded stock on the market Thursday, with over 470 million shares changing hands.\nWho's behind this SPAC?\nPatrick Orlando is the SPAC's CEO. He's a former investment banker and has a hefty background in the SPAC business (he's been part of three before this one). The company's chief financial officer is Luis Orleans-Braganza, who currently serves on Brazil's National Congress.\nIf you haven't heard of either of them, you may have heard of some of the high flying hedge funds that have invested in the SPAC, like Highbridge Capital Management, Lighthouse Partners, K2 Principal Fund, and Saba Capital Management. They all likely made a killing on Thursday's wild price action.\nSo what's going on here?\nBasically, Orlando incorporated Digital World Acquisition in Miami about a month after Trump lost the election, with the goal of merging with a \"leading emerging growth technology company.\"\nThen today, his SPAC announced it would be taking Trump Media & Technology Group public, on the condition of shareholder approval.\nBut unlike in other SPAC mergers where the target company discloses its financial statements or future revenue potential, the Trump Media & Technology Group doesn't have much in the way of financial projections - even though it got a $1.7 billion valuation in the merger.\nThe goal of the future company is to \"create a rival to the liberal media consortium and fight back against the 'Big Tech' companies of Silicon Valley, which have used their unilateral power to silence opposing voices in America.\" The first step is launching a new site called Truth Social.\nWhat is Truth Social?\nThat remains to be seen. The future social media site hasn't actually launched yet, but it has a waitlist. The statement said the eventual site aims to \"stand up to the tyranny of Big Tech.\nTrump has been wanting to get back on social media since being banned from Twitter and Facebook following the January 6 insurrection - and it hasn't been easy. At first, he tried sending tweets from other people's accounts. Then he launched a blog called \"From the Desk of Donald J. Trump\" that flopped.\n\"We live in a world where the Taliban has a huge presence on Twitter, yet your favorite American President has been silenced. This is unacceptable,\" he said. \"I am excited to send out my first TRUTH on TRUTH Social very soon. TMTG was founded with a mission to give a voice to all.\"\nA beta version of the site could launch as soon as November 2021.\nIs this thing for real?\nEven so, Trump's company going public is all dependent on shareholder approval. According to Julian Klymochko who runs a SPAC-focused exchange-traded fund, he's never seen a SPAC deal get voted down. Shareholders are incentivized to approve it because of assets called warrants that they receive at the beginning of the SPAC. No deal, and those warrants are worthless.\nIs this the next meme stock?\nIf price action is any indication, it might already be a meme. On top of that, retail traders are piling on, a necessary prerequisite for a stock to achieve meme status.According to Bloomberg, Fidelity logged 55,000 buy orders for shares of the SPAC on Thursday.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":851405047,"gmtCreate":1634917615550,"gmtModify":1634917615856,"author":{"id":"3566638874866921","authorId":"3566638874866921","name":"Syin23","avatar":"https://static.tigerbbs.com/5fe07bbe04f288a17e760d8b275d427f","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3566638874866921","authorIdStr":"3566638874866921"},"htmlText":"Wow... Powerful&nbsp;[哇塞]&nbsp;","listText":"Wow... Powerful&nbsp;[哇塞]&nbsp;","text":"Wow... Powerful [哇塞]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/851405047","repostId":1101284007,"repostType":4,"repost":{"id":"1101284007","kind":"news","pubTimestamp":1634884490,"share":"https://www.laohu8.com/m/news/1101284007?lang=&edition=full","pubTime":"2021-10-22 14:34","market":"us","language":"en","title":"Trying to make sense of Donald Trump's SPAC? We break it down for you.","url":"https://stock-news.laohu8.com/highlight/detail?id=1101284007","media":"Business Insider","summary":"Former president Donald Trump is taking his social media company public via SPAC merger.\nShares of t","content":"<ul>\n <li>Former president Donald Trump is taking his social media company public via SPAC merger.</li>\n <li>Shares of the SPAC, Digital World Acquisition Company, more than quadrupled in price on the news.</li>\n <li>Here we answer your burning questions on what's going on with this deal.</li>\n</ul>\nThe SPAC craze is back, riding high on the former president's social media ambitions.\nDonald Trump's soon-to-be-launched social media site, Truth Social, announced Thursday its plans to go public through a special purpose acquisition company, aka a SPAC, called Digital World Acquisition Company. The stock ticker \"DWAC\" trended on Twitter following the announcement.\nAs the news goes viral, here are the answers to burning questions about the art of Trump's latest deal.\nSo what is a SPAC, again?\nSPACs were a nearly dormant financial tool for taking companies public until right around the start of the COVID-19 pandemic, at which point the market became a feeding frenzy for investors, speculators, and retail traders looking to cash in on private companies with big potential for growth.\nA SPAC is just&nbsp;a small public company&nbsp;with a whole lot of cash that has one simple goal: to take a private company public. They are also known as \"blank-check\" companies and the process for a company to go public via SPAC can be easier than the traditional IPO route.\nTo form a SPAC, a few people, often former bankers or corporate executives and sometimes celebrities, get together in the hopes of finding a worthwhile private company. First, the SPAC goes public, issuing shares and raising money from investors. SPAC shares are usually sold at $10 apiece - just like in the case of Trump Media's Digital World Acquisition Corp. SPAC, which raised about $283 million in its IPO, according to a filing with regulators.\nThat war chest of cash will eventually be used to strike a deal with a target company. Digital World Acquisition found Trump Media &amp; Technology Group.\nDWAC stock is up how much?\n357% at Thursday's close! Intraday, it was up even more, gaining more than 400% before pulling back.\nWe've seen&nbsp;SPAC stocks go wild&nbsp;after announcing the target company - but not this wild. SPAC stocks normally jump after the deal is announced, even though the target company isn't public yet (shareholders still need to give the thumbs up).\nThe stock closed Thursday at $45.50, up from $9.96 the previous day. It was the most-traded stock on the market Thursday, with over 470 million shares changing hands.\nWho's behind this SPAC?\nPatrick Orlando is the SPAC's CEO. He's a former investment banker and has a hefty background in the SPAC business (he's been part of three before this one). The company's chief financial officer is Luis Orleans-Braganza, who currently serves on Brazil's National Congress.\nIf you haven't heard of either of them, you may have heard of some of the high flying hedge funds that have invested in the SPAC, like Highbridge Capital Management, Lighthouse Partners, K2 Principal Fund, and Saba Capital Management. They all likely&nbsp;made a killing on&nbsp;Thursday's wild price action.\nSo what's going on here?\nBasically, Orlando incorporated Digital World Acquisition in Miami about a month after Trump lost the election, with the goal of merging with a \"leading emerging growth technology company.\"\nThen today, his SPAC announced it would be taking Trump Media &amp; Technology Group public, on the condition of shareholder approval.\nBut unlike in other SPAC mergers where the target company discloses its financial statements or future revenue potential, the Trump Media &amp; Technology Group doesn't have much in the way of financial projections - even though it got a $1.7 billion valuation in the merger.\nThe goal of the future company is to \"create a rival to the liberal media consortium and fight back against the 'Big Tech' companies of Silicon Valley, which have used their unilateral power to silence opposing voices in America.\" The first step is launching a new site called Truth Social.\nWhat is Truth Social?\nThat remains to be seen. The future social media site hasn't actually launched yet, but it has a&nbsp;waitlist. The statement said the eventual site aims to \"stand up to the tyranny of Big Tech.\nTrump has been wanting to get back on social media since being banned from Twitter and Facebook following the January 6 insurrection - and it hasn't been easy. At first, he tried sending tweets from&nbsp;other people's accounts. Then he&nbsp;launched a blog&nbsp;called \"From the Desk of Donald J. Trump\" that flopped.\n\"We live in a world where the Taliban has a huge presence on Twitter, yet your favorite American President has been silenced. This is unacceptable,\" he said. \"I am excited to send out my first TRUTH on TRUTH Social very soon. TMTG was founded with a mission to give a voice to all.\"\nA beta version of the site could launch as soon as November 2021.\nIs this thing for real?\nEven so, Trump's company going public is all dependent on shareholder approval. According to Julian Klymochko who&nbsp;runs a SPAC-focused exchange-traded fund, he's never seen a SPAC deal get voted down. Shareholders are incentivized to approve it because of assets called warrants that they receive at the beginning of the SPAC. No deal, and those warrants are worthless.\nIs this the next meme stock?\nIf price action is any indication, it might already be a meme. On top of that, retail traders are piling on, a necessary prerequisite for a stock to achieve meme status.According to Bloomberg, Fidelity logged 55,000 buy orders for shares of the SPAC on Thursday.","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Trying to make sense of Donald Trump's SPAC? We break it down for you.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTrying to make sense of Donald Trump's SPAC? We break it down for you.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-10-22 14:34 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://markets.businessinsider.com/news/stocks/donald-trump-spac-digital-world-acquisition-truth-social-explained-2021-10>Business Insider</a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\nFormer president Donald Trump is taking his social media company public via SPAC merger.\nShares of the SPAC, Digital World Acquisition Company, more than quadrupled in price on the news.\nHere we ...\n\n<a href=\"https://markets.businessinsider.com/news/stocks/donald-trump-spac-digital-world-acquisition-truth-social-explained-2021-10\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://markets.businessinsider.com/news/stocks/donald-trump-spac-digital-world-acquisition-truth-social-explained-2021-10","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1101284007","content_text":"Former president Donald Trump is taking his social media company public via SPAC merger.\nShares of the SPAC, Digital World Acquisition Company, more than quadrupled in price on the news.\nHere we answer your burning questions on what's going on with this deal.\n\nThe SPAC craze is back, riding high on the former president's social media ambitions.\nDonald Trump's soon-to-be-launched social media site, Truth Social, announced Thursday its plans to go public through a special purpose acquisition company, aka a SPAC, called Digital World Acquisition Company. The stock ticker \"DWAC\" trended on Twitter following the announcement.\nAs the news goes viral, here are the answers to burning questions about the art of Trump's latest deal.\nSo what is a SPAC, again?\nSPACs were a nearly dormant financial tool for taking companies public until right around the start of the COVID-19 pandemic, at which point the market became a feeding frenzy for investors, speculators, and retail traders looking to cash in on private companies with big potential for growth.\nA SPAC is just a small public company with a whole lot of cash that has one simple goal: to take a private company public. They are also known as \"blank-check\" companies and the process for a company to go public via SPAC can be easier than the traditional IPO route.\nTo form a SPAC, a few people, often former bankers or corporate executives and sometimes celebrities, get together in the hopes of finding a worthwhile private company. First, the SPAC goes public, issuing shares and raising money from investors. SPAC shares are usually sold at $10 apiece - just like in the case of Trump Media's Digital World Acquisition Corp. SPAC, which raised about $283 million in its IPO, according to a filing with regulators.\nThat war chest of cash will eventually be used to strike a deal with a target company. Digital World Acquisition found Trump Media & Technology Group.\nDWAC stock is up how much?\n357% at Thursday's close! Intraday, it was up even more, gaining more than 400% before pulling back.\nWe've seen SPAC stocks go wild after announcing the target company - but not this wild. SPAC stocks normally jump after the deal is announced, even though the target company isn't public yet (shareholders still need to give the thumbs up).\nThe stock closed Thursday at $45.50, up from $9.96 the previous day. It was the most-traded stock on the market Thursday, with over 470 million shares changing hands.\nWho's behind this SPAC?\nPatrick Orlando is the SPAC's CEO. He's a former investment banker and has a hefty background in the SPAC business (he's been part of three before this one). The company's chief financial officer is Luis Orleans-Braganza, who currently serves on Brazil's National Congress.\nIf you haven't heard of either of them, you may have heard of some of the high flying hedge funds that have invested in the SPAC, like Highbridge Capital Management, Lighthouse Partners, K2 Principal Fund, and Saba Capital Management. They all likely made a killing on Thursday's wild price action.\nSo what's going on here?\nBasically, Orlando incorporated Digital World Acquisition in Miami about a month after Trump lost the election, with the goal of merging with a \"leading emerging growth technology company.\"\nThen today, his SPAC announced it would be taking Trump Media & Technology Group public, on the condition of shareholder approval.\nBut unlike in other SPAC mergers where the target company discloses its financial statements or future revenue potential, the Trump Media & Technology Group doesn't have much in the way of financial projections - even though it got a $1.7 billion valuation in the merger.\nThe goal of the future company is to \"create a rival to the liberal media consortium and fight back against the 'Big Tech' companies of Silicon Valley, which have used their unilateral power to silence opposing voices in America.\" The first step is launching a new site called Truth Social.\nWhat is Truth Social?\nThat remains to be seen. The future social media site hasn't actually launched yet, but it has a waitlist. The statement said the eventual site aims to \"stand up to the tyranny of Big Tech.\nTrump has been wanting to get back on social media since being banned from Twitter and Facebook following the January 6 insurrection - and it hasn't been easy. At first, he tried sending tweets from other people's accounts. Then he launched a blog called \"From the Desk of Donald J. Trump\" that flopped.\n\"We live in a world where the Taliban has a huge presence on Twitter, yet your favorite American President has been silenced. This is unacceptable,\" he said. \"I am excited to send out my first TRUTH on TRUTH Social very soon. TMTG was founded with a mission to give a voice to all.\"\nA beta version of the site could launch as soon as November 2021.\nIs this thing for real?\nEven so, Trump's company going public is all dependent on shareholder approval. According to Julian Klymochko who runs a SPAC-focused exchange-traded fund, he's never seen a SPAC deal get voted down. Shareholders are incentivized to approve it because of assets called warrants that they receive at the beginning of the SPAC. No deal, and those warrants are worthless.\nIs this the next meme stock?\nIf price action is any indication, it might already be a meme. On top of that, retail traders are piling on, a necessary prerequisite for a stock to achieve meme status.According to Bloomberg, Fidelity logged 55,000 buy orders for shares of the SPAC on Thursday.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":851628058,"gmtCreate":1634905637889,"gmtModify":1634905638358,"author":{"id":"4091753544363040","authorId":"4091753544363040","name":"Ahlec","avatar":"https://static.tigerbbs.com/81afb03fdd19de870e28208208ff7909","vip":1,"crmLevel":5,"crmLevelSwitch":0,"idStr":"4091753544363040","authorIdStr":"4091753544363040"},"htmlText":"Donald [fill in the blank]","listText":"Donald [fill in the blank]","text":"Donald [fill in the blank]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/851628058","repostId":1101284007,"repostType":4,"repost":{"id":"1101284007","kind":"news","pubTimestamp":1634884490,"share":"https://www.laohu8.com/m/news/1101284007?lang=&edition=full","pubTime":"2021-10-22 14:34","market":"us","language":"en","title":"Trying to make sense of Donald Trump's SPAC? We break it down for you.","url":"https://stock-news.laohu8.com/highlight/detail?id=1101284007","media":"Business Insider","summary":"Former president Donald Trump is taking his social media company public via SPAC merger.\nShares of t","content":"<ul>\n <li>Former president Donald Trump is taking his social media company public via SPAC merger.</li>\n <li>Shares of the SPAC, Digital World Acquisition Company, more than quadrupled in price on the news.</li>\n <li>Here we answer your burning questions on what's going on with this deal.</li>\n</ul>\nThe SPAC craze is back, riding high on the former president's social media ambitions.\nDonald Trump's soon-to-be-launched social media site, Truth Social, announced Thursday its plans to go public through a special purpose acquisition company, aka a SPAC, called Digital World Acquisition Company. The stock ticker \"DWAC\" trended on Twitter following the announcement.\nAs the news goes viral, here are the answers to burning questions about the art of Trump's latest deal.\nSo what is a SPAC, again?\nSPACs were a nearly dormant financial tool for taking companies public until right around the start of the COVID-19 pandemic, at which point the market became a feeding frenzy for investors, speculators, and retail traders looking to cash in on private companies with big potential for growth.\nA SPAC is just&nbsp;a small public company&nbsp;with a whole lot of cash that has one simple goal: to take a private company public. They are also known as \"blank-check\" companies and the process for a company to go public via SPAC can be easier than the traditional IPO route.\nTo form a SPAC, a few people, often former bankers or corporate executives and sometimes celebrities, get together in the hopes of finding a worthwhile private company. First, the SPAC goes public, issuing shares and raising money from investors. SPAC shares are usually sold at $10 apiece - just like in the case of Trump Media's Digital World Acquisition Corp. SPAC, which raised about $283 million in its IPO, according to a filing with regulators.\nThat war chest of cash will eventually be used to strike a deal with a target company. Digital World Acquisition found Trump Media &amp; Technology Group.\nDWAC stock is up how much?\n357% at Thursday's close! Intraday, it was up even more, gaining more than 400% before pulling back.\nWe've seen&nbsp;SPAC stocks go wild&nbsp;after announcing the target company - but not this wild. SPAC stocks normally jump after the deal is announced, even though the target company isn't public yet (shareholders still need to give the thumbs up).\nThe stock closed Thursday at $45.50, up from $9.96 the previous day. It was the most-traded stock on the market Thursday, with over 470 million shares changing hands.\nWho's behind this SPAC?\nPatrick Orlando is the SPAC's CEO. He's a former investment banker and has a hefty background in the SPAC business (he's been part of three before this one). The company's chief financial officer is Luis Orleans-Braganza, who currently serves on Brazil's National Congress.\nIf you haven't heard of either of them, you may have heard of some of the high flying hedge funds that have invested in the SPAC, like Highbridge Capital Management, Lighthouse Partners, K2 Principal Fund, and Saba Capital Management. They all likely&nbsp;made a killing on&nbsp;Thursday's wild price action.\nSo what's going on here?\nBasically, Orlando incorporated Digital World Acquisition in Miami about a month after Trump lost the election, with the goal of merging with a \"leading emerging growth technology company.\"\nThen today, his SPAC announced it would be taking Trump Media &amp; Technology Group public, on the condition of shareholder approval.\nBut unlike in other SPAC mergers where the target company discloses its financial statements or future revenue potential, the Trump Media &amp; Technology Group doesn't have much in the way of financial projections - even though it got a $1.7 billion valuation in the merger.\nThe goal of the future company is to \"create a rival to the liberal media consortium and fight back against the 'Big Tech' companies of Silicon Valley, which have used their unilateral power to silence opposing voices in America.\" The first step is launching a new site called Truth Social.\nWhat is Truth Social?\nThat remains to be seen. The future social media site hasn't actually launched yet, but it has a&nbsp;waitlist. The statement said the eventual site aims to \"stand up to the tyranny of Big Tech.\nTrump has been wanting to get back on social media since being banned from Twitter and Facebook following the January 6 insurrection - and it hasn't been easy. At first, he tried sending tweets from&nbsp;other people's accounts. Then he&nbsp;launched a blog&nbsp;called \"From the Desk of Donald J. Trump\" that flopped.\n\"We live in a world where the Taliban has a huge presence on Twitter, yet your favorite American President has been silenced. This is unacceptable,\" he said. \"I am excited to send out my first TRUTH on TRUTH Social very soon. TMTG was founded with a mission to give a voice to all.\"\nA beta version of the site could launch as soon as November 2021.\nIs this thing for real?\nEven so, Trump's company going public is all dependent on shareholder approval. According to Julian Klymochko who&nbsp;runs a SPAC-focused exchange-traded fund, he's never seen a SPAC deal get voted down. Shareholders are incentivized to approve it because of assets called warrants that they receive at the beginning of the SPAC. No deal, and those warrants are worthless.\nIs this the next meme stock?\nIf price action is any indication, it might already be a meme. On top of that, retail traders are piling on, a necessary prerequisite for a stock to achieve meme status.According to Bloomberg, Fidelity logged 55,000 buy orders for shares of the SPAC on Thursday.","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Trying to make sense of Donald Trump's SPAC? We break it down for you.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTrying to make sense of Donald Trump's SPAC? We break it down for you.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-10-22 14:34 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://markets.businessinsider.com/news/stocks/donald-trump-spac-digital-world-acquisition-truth-social-explained-2021-10>Business Insider</a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\nFormer president Donald Trump is taking his social media company public via SPAC merger.\nShares of the SPAC, Digital World Acquisition Company, more than quadrupled in price on the news.\nHere we ...\n\n<a href=\"https://markets.businessinsider.com/news/stocks/donald-trump-spac-digital-world-acquisition-truth-social-explained-2021-10\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://markets.businessinsider.com/news/stocks/donald-trump-spac-digital-world-acquisition-truth-social-explained-2021-10","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1101284007","content_text":"Former president Donald Trump is taking his social media company public via SPAC merger.\nShares of the SPAC, Digital World Acquisition Company, more than quadrupled in price on the news.\nHere we answer your burning questions on what's going on with this deal.\n\nThe SPAC craze is back, riding high on the former president's social media ambitions.\nDonald Trump's soon-to-be-launched social media site, Truth Social, announced Thursday its plans to go public through a special purpose acquisition company, aka a SPAC, called Digital World Acquisition Company. The stock ticker \"DWAC\" trended on Twitter following the announcement.\nAs the news goes viral, here are the answers to burning questions about the art of Trump's latest deal.\nSo what is a SPAC, again?\nSPACs were a nearly dormant financial tool for taking companies public until right around the start of the COVID-19 pandemic, at which point the market became a feeding frenzy for investors, speculators, and retail traders looking to cash in on private companies with big potential for growth.\nA SPAC is just a small public company with a whole lot of cash that has one simple goal: to take a private company public. They are also known as \"blank-check\" companies and the process for a company to go public via SPAC can be easier than the traditional IPO route.\nTo form a SPAC, a few people, often former bankers or corporate executives and sometimes celebrities, get together in the hopes of finding a worthwhile private company. First, the SPAC goes public, issuing shares and raising money from investors. SPAC shares are usually sold at $10 apiece - just like in the case of Trump Media's Digital World Acquisition Corp. SPAC, which raised about $283 million in its IPO, according to a filing with regulators.\nThat war chest of cash will eventually be used to strike a deal with a target company. Digital World Acquisition found Trump Media & Technology Group.\nDWAC stock is up how much?\n357% at Thursday's close! Intraday, it was up even more, gaining more than 400% before pulling back.\nWe've seen SPAC stocks go wild after announcing the target company - but not this wild. SPAC stocks normally jump after the deal is announced, even though the target company isn't public yet (shareholders still need to give the thumbs up).\nThe stock closed Thursday at $45.50, up from $9.96 the previous day. It was the most-traded stock on the market Thursday, with over 470 million shares changing hands.\nWho's behind this SPAC?\nPatrick Orlando is the SPAC's CEO. He's a former investment banker and has a hefty background in the SPAC business (he's been part of three before this one). The company's chief financial officer is Luis Orleans-Braganza, who currently serves on Brazil's National Congress.\nIf you haven't heard of either of them, you may have heard of some of the high flying hedge funds that have invested in the SPAC, like Highbridge Capital Management, Lighthouse Partners, K2 Principal Fund, and Saba Capital Management. They all likely made a killing on Thursday's wild price action.\nSo what's going on here?\nBasically, Orlando incorporated Digital World Acquisition in Miami about a month after Trump lost the election, with the goal of merging with a \"leading emerging growth technology company.\"\nThen today, his SPAC announced it would be taking Trump Media & Technology Group public, on the condition of shareholder approval.\nBut unlike in other SPAC mergers where the target company discloses its financial statements or future revenue potential, the Trump Media & Technology Group doesn't have much in the way of financial projections - even though it got a $1.7 billion valuation in the merger.\nThe goal of the future company is to \"create a rival to the liberal media consortium and fight back against the 'Big Tech' companies of Silicon Valley, which have used their unilateral power to silence opposing voices in America.\" The first step is launching a new site called Truth Social.\nWhat is Truth Social?\nThat remains to be seen. The future social media site hasn't actually launched yet, but it has a waitlist. The statement said the eventual site aims to \"stand up to the tyranny of Big Tech.\nTrump has been wanting to get back on social media since being banned from Twitter and Facebook following the January 6 insurrection - and it hasn't been easy. At first, he tried sending tweets from other people's accounts. Then he launched a blog called \"From the Desk of Donald J. Trump\" that flopped.\n\"We live in a world where the Taliban has a huge presence on Twitter, yet your favorite American President has been silenced. This is unacceptable,\" he said. \"I am excited to send out my first TRUTH on TRUTH Social very soon. TMTG was founded with a mission to give a voice to all.\"\nA beta version of the site could launch as soon as November 2021.\nIs this thing for real?\nEven so, Trump's company going public is all dependent on shareholder approval. According to Julian Klymochko who runs a SPAC-focused exchange-traded fund, he's never seen a SPAC deal get voted down. Shareholders are incentivized to approve it because of assets called warrants that they receive at the beginning of the SPAC. No deal, and those warrants are worthless.\nIs this the next meme stock?\nIf price action is any indication, it might already be a meme. On top of that, retail traders are piling on, a necessary prerequisite for a stock to achieve meme status.According to Bloomberg, Fidelity logged 55,000 buy orders for shares of the SPAC on Thursday.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":851664573,"gmtCreate":1634905034408,"gmtModify":1634905036968,"author":{"id":"4091758936365950","authorId":"4091758936365950","name":"MHh","avatar":"https://static.tigerbbs.com/54b2feced9ef5dcc9e95997d1f4db280","vip":1,"crmLevel":7,"crmLevelSwitch":0,"idStr":"4091758936365950","authorIdStr":"4091758936365950"},"htmlText":"Interesting… on many levels. What does thismean for the big tech and consequently their share prices? Socially, how will this transform the sharing of information and the degree of truth in each?&nbsp;","listText":"Interesting… on many levels. What does thismean for the big tech and consequently their share prices? Socially, how will this transform the sharing of information and the degree of truth in each?&nbsp;","text":"Interesting… on many levels. What does thismean for the big tech and consequently their share prices? Socially, how will this transform the sharing of information and the degree of truth in each?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/851664573","repostId":1101284007,"repostType":4,"repost":{"id":"1101284007","kind":"news","pubTimestamp":1634884490,"share":"https://www.laohu8.com/m/news/1101284007?lang=&edition=full","pubTime":"2021-10-22 14:34","market":"us","language":"en","title":"Trying to make sense of Donald Trump's SPAC? We break it down for you.","url":"https://stock-news.laohu8.com/highlight/detail?id=1101284007","media":"Business Insider","summary":"Former president Donald Trump is taking his social media company public via SPAC merger.\nShares of t","content":"<ul>\n <li>Former president Donald Trump is taking his social media company public via SPAC merger.</li>\n <li>Shares of the SPAC, Digital World Acquisition Company, more than quadrupled in price on the news.</li>\n <li>Here we answer your burning questions on what's going on with this deal.</li>\n</ul>\nThe SPAC craze is back, riding high on the former president's social media ambitions.\nDonald Trump's soon-to-be-launched social media site, Truth Social, announced Thursday its plans to go public through a special purpose acquisition company, aka a SPAC, called Digital World Acquisition Company. The stock ticker \"DWAC\" trended on Twitter following the announcement.\nAs the news goes viral, here are the answers to burning questions about the art of Trump's latest deal.\nSo what is a SPAC, again?\nSPACs were a nearly dormant financial tool for taking companies public until right around the start of the COVID-19 pandemic, at which point the market became a feeding frenzy for investors, speculators, and retail traders looking to cash in on private companies with big potential for growth.\nA SPAC is just&nbsp;a small public company&nbsp;with a whole lot of cash that has one simple goal: to take a private company public. They are also known as \"blank-check\" companies and the process for a company to go public via SPAC can be easier than the traditional IPO route.\nTo form a SPAC, a few people, often former bankers or corporate executives and sometimes celebrities, get together in the hopes of finding a worthwhile private company. First, the SPAC goes public, issuing shares and raising money from investors. SPAC shares are usually sold at $10 apiece - just like in the case of Trump Media's Digital World Acquisition Corp. SPAC, which raised about $283 million in its IPO, according to a filing with regulators.\nThat war chest of cash will eventually be used to strike a deal with a target company. Digital World Acquisition found Trump Media &amp; Technology Group.\nDWAC stock is up how much?\n357% at Thursday's close! Intraday, it was up even more, gaining more than 400% before pulling back.\nWe've seen&nbsp;SPAC stocks go wild&nbsp;after announcing the target company - but not this wild. SPAC stocks normally jump after the deal is announced, even though the target company isn't public yet (shareholders still need to give the thumbs up).\nThe stock closed Thursday at $45.50, up from $9.96 the previous day. It was the most-traded stock on the market Thursday, with over 470 million shares changing hands.\nWho's behind this SPAC?\nPatrick Orlando is the SPAC's CEO. He's a former investment banker and has a hefty background in the SPAC business (he's been part of three before this one). The company's chief financial officer is Luis Orleans-Braganza, who currently serves on Brazil's National Congress.\nIf you haven't heard of either of them, you may have heard of some of the high flying hedge funds that have invested in the SPAC, like Highbridge Capital Management, Lighthouse Partners, K2 Principal Fund, and Saba Capital Management. They all likely&nbsp;made a killing on&nbsp;Thursday's wild price action.\nSo what's going on here?\nBasically, Orlando incorporated Digital World Acquisition in Miami about a month after Trump lost the election, with the goal of merging with a \"leading emerging growth technology company.\"\nThen today, his SPAC announced it would be taking Trump Media &amp; Technology Group public, on the condition of shareholder approval.\nBut unlike in other SPAC mergers where the target company discloses its financial statements or future revenue potential, the Trump Media &amp; Technology Group doesn't have much in the way of financial projections - even though it got a $1.7 billion valuation in the merger.\nThe goal of the future company is to \"create a rival to the liberal media consortium and fight back against the 'Big Tech' companies of Silicon Valley, which have used their unilateral power to silence opposing voices in America.\" The first step is launching a new site called Truth Social.\nWhat is Truth Social?\nThat remains to be seen. The future social media site hasn't actually launched yet, but it has a&nbsp;waitlist. The statement said the eventual site aims to \"stand up to the tyranny of Big Tech.\nTrump has been wanting to get back on social media since being banned from Twitter and Facebook following the January 6 insurrection - and it hasn't been easy. At first, he tried sending tweets from&nbsp;other people's accounts. Then he&nbsp;launched a blog&nbsp;called \"From the Desk of Donald J. Trump\" that flopped.\n\"We live in a world where the Taliban has a huge presence on Twitter, yet your favorite American President has been silenced. This is unacceptable,\" he said. \"I am excited to send out my first TRUTH on TRUTH Social very soon. TMTG was founded with a mission to give a voice to all.\"\nA beta version of the site could launch as soon as November 2021.\nIs this thing for real?\nEven so, Trump's company going public is all dependent on shareholder approval. According to Julian Klymochko who&nbsp;runs a SPAC-focused exchange-traded fund, he's never seen a SPAC deal get voted down. Shareholders are incentivized to approve it because of assets called warrants that they receive at the beginning of the SPAC. No deal, and those warrants are worthless.\nIs this the next meme stock?\nIf price action is any indication, it might already be a meme. On top of that, retail traders are piling on, a necessary prerequisite for a stock to achieve meme status.According to Bloomberg, Fidelity logged 55,000 buy orders for shares of the SPAC on Thursday.","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Trying to make sense of Donald Trump's SPAC? We break it down for you.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTrying to make sense of Donald Trump's SPAC? We break it down for you.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-10-22 14:34 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://markets.businessinsider.com/news/stocks/donald-trump-spac-digital-world-acquisition-truth-social-explained-2021-10>Business Insider</a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\nFormer president Donald Trump is taking his social media company public via SPAC merger.\nShares of the SPAC, Digital World Acquisition Company, more than quadrupled in price on the news.\nHere we ...\n\n<a href=\"https://markets.businessinsider.com/news/stocks/donald-trump-spac-digital-world-acquisition-truth-social-explained-2021-10\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://markets.businessinsider.com/news/stocks/donald-trump-spac-digital-world-acquisition-truth-social-explained-2021-10","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1101284007","content_text":"Former president Donald Trump is taking his social media company public via SPAC merger.\nShares of the SPAC, Digital World Acquisition Company, more than quadrupled in price on the news.\nHere we answer your burning questions on what's going on with this deal.\n\nThe SPAC craze is back, riding high on the former president's social media ambitions.\nDonald Trump's soon-to-be-launched social media site, Truth Social, announced Thursday its plans to go public through a special purpose acquisition company, aka a SPAC, called Digital World Acquisition Company. The stock ticker \"DWAC\" trended on Twitter following the announcement.\nAs the news goes viral, here are the answers to burning questions about the art of Trump's latest deal.\nSo what is a SPAC, again?\nSPACs were a nearly dormant financial tool for taking companies public until right around the start of the COVID-19 pandemic, at which point the market became a feeding frenzy for investors, speculators, and retail traders looking to cash in on private companies with big potential for growth.\nA SPAC is just a small public company with a whole lot of cash that has one simple goal: to take a private company public. They are also known as \"blank-check\" companies and the process for a company to go public via SPAC can be easier than the traditional IPO route.\nTo form a SPAC, a few people, often former bankers or corporate executives and sometimes celebrities, get together in the hopes of finding a worthwhile private company. First, the SPAC goes public, issuing shares and raising money from investors. SPAC shares are usually sold at $10 apiece - just like in the case of Trump Media's Digital World Acquisition Corp. SPAC, which raised about $283 million in its IPO, according to a filing with regulators.\nThat war chest of cash will eventually be used to strike a deal with a target company. Digital World Acquisition found Trump Media & Technology Group.\nDWAC stock is up how much?\n357% at Thursday's close! Intraday, it was up even more, gaining more than 400% before pulling back.\nWe've seen SPAC stocks go wild after announcing the target company - but not this wild. SPAC stocks normally jump after the deal is announced, even though the target company isn't public yet (shareholders still need to give the thumbs up).\nThe stock closed Thursday at $45.50, up from $9.96 the previous day. It was the most-traded stock on the market Thursday, with over 470 million shares changing hands.\nWho's behind this SPAC?\nPatrick Orlando is the SPAC's CEO. He's a former investment banker and has a hefty background in the SPAC business (he's been part of three before this one). The company's chief financial officer is Luis Orleans-Braganza, who currently serves on Brazil's National Congress.\nIf you haven't heard of either of them, you may have heard of some of the high flying hedge funds that have invested in the SPAC, like Highbridge Capital Management, Lighthouse Partners, K2 Principal Fund, and Saba Capital Management. They all likely made a killing on Thursday's wild price action.\nSo what's going on here?\nBasically, Orlando incorporated Digital World Acquisition in Miami about a month after Trump lost the election, with the goal of merging with a \"leading emerging growth technology company.\"\nThen today, his SPAC announced it would be taking Trump Media & Technology Group public, on the condition of shareholder approval.\nBut unlike in other SPAC mergers where the target company discloses its financial statements or future revenue potential, the Trump Media & Technology Group doesn't have much in the way of financial projections - even though it got a $1.7 billion valuation in the merger.\nThe goal of the future company is to \"create a rival to the liberal media consortium and fight back against the 'Big Tech' companies of Silicon Valley, which have used their unilateral power to silence opposing voices in America.\" The first step is launching a new site called Truth Social.\nWhat is Truth Social?\nThat remains to be seen. The future social media site hasn't actually launched yet, but it has a waitlist. The statement said the eventual site aims to \"stand up to the tyranny of Big Tech.\nTrump has been wanting to get back on social media since being banned from Twitter and Facebook following the January 6 insurrection - and it hasn't been easy. At first, he tried sending tweets from other people's accounts. Then he launched a blog called \"From the Desk of Donald J. Trump\" that flopped.\n\"We live in a world where the Taliban has a huge presence on Twitter, yet your favorite American President has been silenced. This is unacceptable,\" he said. \"I am excited to send out my first TRUTH on TRUTH Social very soon. TMTG was founded with a mission to give a voice to all.\"\nA beta version of the site could launch as soon as November 2021.\nIs this thing for real?\nEven so, Trump's company going public is all dependent on shareholder approval. According to Julian Klymochko who runs a SPAC-focused exchange-traded fund, he's never seen a SPAC deal get voted down. Shareholders are incentivized to approve it because of assets called warrants that they receive at the beginning of the SPAC. No deal, and those warrants are worthless.\nIs this the next meme stock?\nIf price action is any indication, it might already be a meme. On top of that, retail traders are piling on, a necessary prerequisite for a stock to achieve meme status.According to Bloomberg, Fidelity logged 55,000 buy orders for shares of the SPAC on Thursday.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":6289036,"gmtCreate":1634905115174,"gmtModify":1634905115204,"authorId":4091758936365950,"author":{"id":4091758936365950,"idStr":"4091758936365950","authorId":4091758936365950,"name":"MHh","avatar":"https://static.tigerbbs.com/54b2feced9ef5dcc9e95997d1f4db280","vip":1,"crmLevel":7,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":851664573,"type":1,"supId":0,"prevId":0,"content":"Throw in some wildness too!","text":"Throw in some wildness too!","html":"Throw in some wildness too!"}],"langContent":"CN"},{"id":851669331,"gmtCreate":1634904328631,"gmtModify":1634904329163,"author":{"id":"4087959350378170","authorId":"4087959350378170","name":"Jialatsia","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":7,"crmLevelSwitch":0,"idStr":"4087959350378170","authorIdStr":"4087959350378170"},"htmlText":"Meep","listText":"Meep","text":"Meep","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/851669331","repostId":1101284007,"repostType":4,"repost":{"id":"1101284007","kind":"news","pubTimestamp":1634884490,"share":"https://www.laohu8.com/m/news/1101284007?lang=&edition=full","pubTime":"2021-10-22 14:34","market":"us","language":"en","title":"Trying to make sense of Donald Trump's SPAC? We break it down for you.","url":"https://stock-news.laohu8.com/highlight/detail?id=1101284007","media":"Business Insider","summary":"Former president Donald Trump is taking his social media company public via SPAC merger.\nShares of t","content":"<ul>\n <li>Former president Donald Trump is taking his social media company public via SPAC merger.</li>\n <li>Shares of the SPAC, Digital World Acquisition Company, more than quadrupled in price on the news.</li>\n <li>Here we answer your burning questions on what's going on with this deal.</li>\n</ul>\nThe SPAC craze is back, riding high on the former president's social media ambitions.\nDonald Trump's soon-to-be-launched social media site, Truth Social, announced Thursday its plans to go public through a special purpose acquisition company, aka a SPAC, called Digital World Acquisition Company. The stock ticker \"DWAC\" trended on Twitter following the announcement.\nAs the news goes viral, here are the answers to burning questions about the art of Trump's latest deal.\nSo what is a SPAC, again?\nSPACs were a nearly dormant financial tool for taking companies public until right around the start of the COVID-19 pandemic, at which point the market became a feeding frenzy for investors, speculators, and retail traders looking to cash in on private companies with big potential for growth.\nA SPAC is just&nbsp;a small public company&nbsp;with a whole lot of cash that has one simple goal: to take a private company public. They are also known as \"blank-check\" companies and the process for a company to go public via SPAC can be easier than the traditional IPO route.\nTo form a SPAC, a few people, often former bankers or corporate executives and sometimes celebrities, get together in the hopes of finding a worthwhile private company. First, the SPAC goes public, issuing shares and raising money from investors. SPAC shares are usually sold at $10 apiece - just like in the case of Trump Media's Digital World Acquisition Corp. SPAC, which raised about $283 million in its IPO, according to a filing with regulators.\nThat war chest of cash will eventually be used to strike a deal with a target company. Digital World Acquisition found Trump Media &amp; Technology Group.\nDWAC stock is up how much?\n357% at Thursday's close! Intraday, it was up even more, gaining more than 400% before pulling back.\nWe've seen&nbsp;SPAC stocks go wild&nbsp;after announcing the target company - but not this wild. SPAC stocks normally jump after the deal is announced, even though the target company isn't public yet (shareholders still need to give the thumbs up).\nThe stock closed Thursday at $45.50, up from $9.96 the previous day. It was the most-traded stock on the market Thursday, with over 470 million shares changing hands.\nWho's behind this SPAC?\nPatrick Orlando is the SPAC's CEO. He's a former investment banker and has a hefty background in the SPAC business (he's been part of three before this one). The company's chief financial officer is Luis Orleans-Braganza, who currently serves on Brazil's National Congress.\nIf you haven't heard of either of them, you may have heard of some of the high flying hedge funds that have invested in the SPAC, like Highbridge Capital Management, Lighthouse Partners, K2 Principal Fund, and Saba Capital Management. They all likely&nbsp;made a killing on&nbsp;Thursday's wild price action.\nSo what's going on here?\nBasically, Orlando incorporated Digital World Acquisition in Miami about a month after Trump lost the election, with the goal of merging with a \"leading emerging growth technology company.\"\nThen today, his SPAC announced it would be taking Trump Media &amp; Technology Group public, on the condition of shareholder approval.\nBut unlike in other SPAC mergers where the target company discloses its financial statements or future revenue potential, the Trump Media &amp; Technology Group doesn't have much in the way of financial projections - even though it got a $1.7 billion valuation in the merger.\nThe goal of the future company is to \"create a rival to the liberal media consortium and fight back against the 'Big Tech' companies of Silicon Valley, which have used their unilateral power to silence opposing voices in America.\" The first step is launching a new site called Truth Social.\nWhat is Truth Social?\nThat remains to be seen. The future social media site hasn't actually launched yet, but it has a&nbsp;waitlist. The statement said the eventual site aims to \"stand up to the tyranny of Big Tech.\nTrump has been wanting to get back on social media since being banned from Twitter and Facebook following the January 6 insurrection - and it hasn't been easy. At first, he tried sending tweets from&nbsp;other people's accounts. Then he&nbsp;launched a blog&nbsp;called \"From the Desk of Donald J. Trump\" that flopped.\n\"We live in a world where the Taliban has a huge presence on Twitter, yet your favorite American President has been silenced. This is unacceptable,\" he said. \"I am excited to send out my first TRUTH on TRUTH Social very soon. TMTG was founded with a mission to give a voice to all.\"\nA beta version of the site could launch as soon as November 2021.\nIs this thing for real?\nEven so, Trump's company going public is all dependent on shareholder approval. According to Julian Klymochko who&nbsp;runs a SPAC-focused exchange-traded fund, he's never seen a SPAC deal get voted down. Shareholders are incentivized to approve it because of assets called warrants that they receive at the beginning of the SPAC. No deal, and those warrants are worthless.\nIs this the next meme stock?\nIf price action is any indication, it might already be a meme. On top of that, retail traders are piling on, a necessary prerequisite for a stock to achieve meme status.According to Bloomberg, Fidelity logged 55,000 buy orders for shares of the SPAC on Thursday.","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Trying to make sense of Donald Trump's SPAC? 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We break it down for you.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-10-22 14:34 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://markets.businessinsider.com/news/stocks/donald-trump-spac-digital-world-acquisition-truth-social-explained-2021-10>Business Insider</a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\nFormer president Donald Trump is taking his social media company public via SPAC merger.\nShares of the SPAC, Digital World Acquisition Company, more than quadrupled in price on the news.\nHere we ...\n\n<a href=\"https://markets.businessinsider.com/news/stocks/donald-trump-spac-digital-world-acquisition-truth-social-explained-2021-10\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://markets.businessinsider.com/news/stocks/donald-trump-spac-digital-world-acquisition-truth-social-explained-2021-10","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1101284007","content_text":"Former president Donald Trump is taking his social media company public via SPAC merger.\nShares of the SPAC, Digital World Acquisition Company, more than quadrupled in price on the news.\nHere we answer your burning questions on what's going on with this deal.\n\nThe SPAC craze is back, riding high on the former president's social media ambitions.\nDonald Trump's soon-to-be-launched social media site, Truth Social, announced Thursday its plans to go public through a special purpose acquisition company, aka a SPAC, called Digital World Acquisition Company. The stock ticker \"DWAC\" trended on Twitter following the announcement.\nAs the news goes viral, here are the answers to burning questions about the art of Trump's latest deal.\nSo what is a SPAC, again?\nSPACs were a nearly dormant financial tool for taking companies public until right around the start of the COVID-19 pandemic, at which point the market became a feeding frenzy for investors, speculators, and retail traders looking to cash in on private companies with big potential for growth.\nA SPAC is just a small public company with a whole lot of cash that has one simple goal: to take a private company public. They are also known as \"blank-check\" companies and the process for a company to go public via SPAC can be easier than the traditional IPO route.\nTo form a SPAC, a few people, often former bankers or corporate executives and sometimes celebrities, get together in the hopes of finding a worthwhile private company. First, the SPAC goes public, issuing shares and raising money from investors. SPAC shares are usually sold at $10 apiece - just like in the case of Trump Media's Digital World Acquisition Corp. SPAC, which raised about $283 million in its IPO, according to a filing with regulators.\nThat war chest of cash will eventually be used to strike a deal with a target company. Digital World Acquisition found Trump Media & Technology Group.\nDWAC stock is up how much?\n357% at Thursday's close! Intraday, it was up even more, gaining more than 400% before pulling back.\nWe've seen SPAC stocks go wild after announcing the target company - but not this wild. SPAC stocks normally jump after the deal is announced, even though the target company isn't public yet (shareholders still need to give the thumbs up).\nThe stock closed Thursday at $45.50, up from $9.96 the previous day. It was the most-traded stock on the market Thursday, with over 470 million shares changing hands.\nWho's behind this SPAC?\nPatrick Orlando is the SPAC's CEO. He's a former investment banker and has a hefty background in the SPAC business (he's been part of three before this one). The company's chief financial officer is Luis Orleans-Braganza, who currently serves on Brazil's National Congress.\nIf you haven't heard of either of them, you may have heard of some of the high flying hedge funds that have invested in the SPAC, like Highbridge Capital Management, Lighthouse Partners, K2 Principal Fund, and Saba Capital Management. They all likely made a killing on Thursday's wild price action.\nSo what's going on here?\nBasically, Orlando incorporated Digital World Acquisition in Miami about a month after Trump lost the election, with the goal of merging with a \"leading emerging growth technology company.\"\nThen today, his SPAC announced it would be taking Trump Media & Technology Group public, on the condition of shareholder approval.\nBut unlike in other SPAC mergers where the target company discloses its financial statements or future revenue potential, the Trump Media & Technology Group doesn't have much in the way of financial projections - even though it got a $1.7 billion valuation in the merger.\nThe goal of the future company is to \"create a rival to the liberal media consortium and fight back against the 'Big Tech' companies of Silicon Valley, which have used their unilateral power to silence opposing voices in America.\" The first step is launching a new site called Truth Social.\nWhat is Truth Social?\nThat remains to be seen. The future social media site hasn't actually launched yet, but it has a waitlist. The statement said the eventual site aims to \"stand up to the tyranny of Big Tech.\nTrump has been wanting to get back on social media since being banned from Twitter and Facebook following the January 6 insurrection - and it hasn't been easy. At first, he tried sending tweets from other people's accounts. Then he launched a blog called \"From the Desk of Donald J. Trump\" that flopped.\n\"We live in a world where the Taliban has a huge presence on Twitter, yet your favorite American President has been silenced. This is unacceptable,\" he said. \"I am excited to send out my first TRUTH on TRUTH Social very soon. TMTG was founded with a mission to give a voice to all.\"\nA beta version of the site could launch as soon as November 2021.\nIs this thing for real?\nEven so, Trump's company going public is all dependent on shareholder approval. According to Julian Klymochko who runs a SPAC-focused exchange-traded fund, he's never seen a SPAC deal get voted down. Shareholders are incentivized to approve it because of assets called warrants that they receive at the beginning of the SPAC. No deal, and those warrants are worthless.\nIs this the next meme stock?\nIf price action is any indication, it might already be a meme. On top of that, retail traders are piling on, a necessary prerequisite for a stock to achieve meme status.According to Bloomberg, Fidelity logged 55,000 buy orders for shares of the SPAC on Thursday.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":851687520,"gmtCreate":1634904027867,"gmtModify":1634904029649,"author":{"id":"3575152525326279","authorId":"3575152525326279","name":"Bll","avatar":"https://static.tigerbbs.com/b372fc92d67296f5ba36af78d1d6e935","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3575152525326279","authorIdStr":"3575152525326279"},"htmlText":"Interesting&nbsp;","listText":"Interesting&nbsp;","text":"Interesting","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/851687520","repostId":1101284007,"repostType":4,"repost":{"id":"1101284007","kind":"news","pubTimestamp":1634884490,"share":"https://www.laohu8.com/m/news/1101284007?lang=&edition=full","pubTime":"2021-10-22 14:34","market":"us","language":"en","title":"Trying to make sense of Donald Trump's SPAC? We break it down for you.","url":"https://stock-news.laohu8.com/highlight/detail?id=1101284007","media":"Business Insider","summary":"Former president Donald Trump is taking his social media company public via SPAC merger.\nShares of t","content":"<ul>\n <li>Former president Donald Trump is taking his social media company public via SPAC merger.</li>\n <li>Shares of the SPAC, Digital World Acquisition Company, more than quadrupled in price on the news.</li>\n <li>Here we answer your burning questions on what's going on with this deal.</li>\n</ul>\nThe SPAC craze is back, riding high on the former president's social media ambitions.\nDonald Trump's soon-to-be-launched social media site, Truth Social, announced Thursday its plans to go public through a special purpose acquisition company, aka a SPAC, called Digital World Acquisition Company. The stock ticker \"DWAC\" trended on Twitter following the announcement.\nAs the news goes viral, here are the answers to burning questions about the art of Trump's latest deal.\nSo what is a SPAC, again?\nSPACs were a nearly dormant financial tool for taking companies public until right around the start of the COVID-19 pandemic, at which point the market became a feeding frenzy for investors, speculators, and retail traders looking to cash in on private companies with big potential for growth.\nA SPAC is just&nbsp;a small public company&nbsp;with a whole lot of cash that has one simple goal: to take a private company public. They are also known as \"blank-check\" companies and the process for a company to go public via SPAC can be easier than the traditional IPO route.\nTo form a SPAC, a few people, often former bankers or corporate executives and sometimes celebrities, get together in the hopes of finding a worthwhile private company. First, the SPAC goes public, issuing shares and raising money from investors. SPAC shares are usually sold at $10 apiece - just like in the case of Trump Media's Digital World Acquisition Corp. SPAC, which raised about $283 million in its IPO, according to a filing with regulators.\nThat war chest of cash will eventually be used to strike a deal with a target company. Digital World Acquisition found Trump Media &amp; Technology Group.\nDWAC stock is up how much?\n357% at Thursday's close! Intraday, it was up even more, gaining more than 400% before pulling back.\nWe've seen&nbsp;SPAC stocks go wild&nbsp;after announcing the target company - but not this wild. SPAC stocks normally jump after the deal is announced, even though the target company isn't public yet (shareholders still need to give the thumbs up).\nThe stock closed Thursday at $45.50, up from $9.96 the previous day. It was the most-traded stock on the market Thursday, with over 470 million shares changing hands.\nWho's behind this SPAC?\nPatrick Orlando is the SPAC's CEO. He's a former investment banker and has a hefty background in the SPAC business (he's been part of three before this one). The company's chief financial officer is Luis Orleans-Braganza, who currently serves on Brazil's National Congress.\nIf you haven't heard of either of them, you may have heard of some of the high flying hedge funds that have invested in the SPAC, like Highbridge Capital Management, Lighthouse Partners, K2 Principal Fund, and Saba Capital Management. They all likely&nbsp;made a killing on&nbsp;Thursday's wild price action.\nSo what's going on here?\nBasically, Orlando incorporated Digital World Acquisition in Miami about a month after Trump lost the election, with the goal of merging with a \"leading emerging growth technology company.\"\nThen today, his SPAC announced it would be taking Trump Media &amp; Technology Group public, on the condition of shareholder approval.\nBut unlike in other SPAC mergers where the target company discloses its financial statements or future revenue potential, the Trump Media &amp; Technology Group doesn't have much in the way of financial projections - even though it got a $1.7 billion valuation in the merger.\nThe goal of the future company is to \"create a rival to the liberal media consortium and fight back against the 'Big Tech' companies of Silicon Valley, which have used their unilateral power to silence opposing voices in America.\" The first step is launching a new site called Truth Social.\nWhat is Truth Social?\nThat remains to be seen. The future social media site hasn't actually launched yet, but it has a&nbsp;waitlist. The statement said the eventual site aims to \"stand up to the tyranny of Big Tech.\nTrump has been wanting to get back on social media since being banned from Twitter and Facebook following the January 6 insurrection - and it hasn't been easy. At first, he tried sending tweets from&nbsp;other people's accounts. Then he&nbsp;launched a blog&nbsp;called \"From the Desk of Donald J. Trump\" that flopped.\n\"We live in a world where the Taliban has a huge presence on Twitter, yet your favorite American President has been silenced. This is unacceptable,\" he said. \"I am excited to send out my first TRUTH on TRUTH Social very soon. TMTG was founded with a mission to give a voice to all.\"\nA beta version of the site could launch as soon as November 2021.\nIs this thing for real?\nEven so, Trump's company going public is all dependent on shareholder approval. According to Julian Klymochko who&nbsp;runs a SPAC-focused exchange-traded fund, he's never seen a SPAC deal get voted down. Shareholders are incentivized to approve it because of assets called warrants that they receive at the beginning of the SPAC. No deal, and those warrants are worthless.\nIs this the next meme stock?\nIf price action is any indication, it might already be a meme. On top of that, retail traders are piling on, a necessary prerequisite for a stock to achieve meme status.According to Bloomberg, Fidelity logged 55,000 buy orders for shares of the SPAC on Thursday.","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Trying to make sense of Donald Trump's SPAC? 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We break it down for you.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-10-22 14:34 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://markets.businessinsider.com/news/stocks/donald-trump-spac-digital-world-acquisition-truth-social-explained-2021-10>Business Insider</a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\nFormer president Donald Trump is taking his social media company public via SPAC merger.\nShares of the SPAC, Digital World Acquisition Company, more than quadrupled in price on the news.\nHere we ...\n\n<a href=\"https://markets.businessinsider.com/news/stocks/donald-trump-spac-digital-world-acquisition-truth-social-explained-2021-10\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://markets.businessinsider.com/news/stocks/donald-trump-spac-digital-world-acquisition-truth-social-explained-2021-10","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1101284007","content_text":"Former president Donald Trump is taking his social media company public via SPAC merger.\nShares of the SPAC, Digital World Acquisition Company, more than quadrupled in price on the news.\nHere we answer your burning questions on what's going on with this deal.\n\nThe SPAC craze is back, riding high on the former president's social media ambitions.\nDonald Trump's soon-to-be-launched social media site, Truth Social, announced Thursday its plans to go public through a special purpose acquisition company, aka a SPAC, called Digital World Acquisition Company. The stock ticker \"DWAC\" trended on Twitter following the announcement.\nAs the news goes viral, here are the answers to burning questions about the art of Trump's latest deal.\nSo what is a SPAC, again?\nSPACs were a nearly dormant financial tool for taking companies public until right around the start of the COVID-19 pandemic, at which point the market became a feeding frenzy for investors, speculators, and retail traders looking to cash in on private companies with big potential for growth.\nA SPAC is just a small public company with a whole lot of cash that has one simple goal: to take a private company public. They are also known as \"blank-check\" companies and the process for a company to go public via SPAC can be easier than the traditional IPO route.\nTo form a SPAC, a few people, often former bankers or corporate executives and sometimes celebrities, get together in the hopes of finding a worthwhile private company. First, the SPAC goes public, issuing shares and raising money from investors. SPAC shares are usually sold at $10 apiece - just like in the case of Trump Media's Digital World Acquisition Corp. SPAC, which raised about $283 million in its IPO, according to a filing with regulators.\nThat war chest of cash will eventually be used to strike a deal with a target company. Digital World Acquisition found Trump Media & Technology Group.\nDWAC stock is up how much?\n357% at Thursday's close! Intraday, it was up even more, gaining more than 400% before pulling back.\nWe've seen SPAC stocks go wild after announcing the target company - but not this wild. SPAC stocks normally jump after the deal is announced, even though the target company isn't public yet (shareholders still need to give the thumbs up).\nThe stock closed Thursday at $45.50, up from $9.96 the previous day. It was the most-traded stock on the market Thursday, with over 470 million shares changing hands.\nWho's behind this SPAC?\nPatrick Orlando is the SPAC's CEO. He's a former investment banker and has a hefty background in the SPAC business (he's been part of three before this one). The company's chief financial officer is Luis Orleans-Braganza, who currently serves on Brazil's National Congress.\nIf you haven't heard of either of them, you may have heard of some of the high flying hedge funds that have invested in the SPAC, like Highbridge Capital Management, Lighthouse Partners, K2 Principal Fund, and Saba Capital Management. They all likely made a killing on Thursday's wild price action.\nSo what's going on here?\nBasically, Orlando incorporated Digital World Acquisition in Miami about a month after Trump lost the election, with the goal of merging with a \"leading emerging growth technology company.\"\nThen today, his SPAC announced it would be taking Trump Media & Technology Group public, on the condition of shareholder approval.\nBut unlike in other SPAC mergers where the target company discloses its financial statements or future revenue potential, the Trump Media & Technology Group doesn't have much in the way of financial projections - even though it got a $1.7 billion valuation in the merger.\nThe goal of the future company is to \"create a rival to the liberal media consortium and fight back against the 'Big Tech' companies of Silicon Valley, which have used their unilateral power to silence opposing voices in America.\" The first step is launching a new site called Truth Social.\nWhat is Truth Social?\nThat remains to be seen. The future social media site hasn't actually launched yet, but it has a waitlist. The statement said the eventual site aims to \"stand up to the tyranny of Big Tech.\nTrump has been wanting to get back on social media since being banned from Twitter and Facebook following the January 6 insurrection - and it hasn't been easy. At first, he tried sending tweets from other people's accounts. Then he launched a blog called \"From the Desk of Donald J. Trump\" that flopped.\n\"We live in a world where the Taliban has a huge presence on Twitter, yet your favorite American President has been silenced. This is unacceptable,\" he said. \"I am excited to send out my first TRUTH on TRUTH Social very soon. TMTG was founded with a mission to give a voice to all.\"\nA beta version of the site could launch as soon as November 2021.\nIs this thing for real?\nEven so, Trump's company going public is all dependent on shareholder approval. According to Julian Klymochko who runs a SPAC-focused exchange-traded fund, he's never seen a SPAC deal get voted down. Shareholders are incentivized to approve it because of assets called warrants that they receive at the beginning of the SPAC. No deal, and those warrants are worthless.\nIs this the next meme stock?\nIf price action is any indication, it might already be a meme. On top of that, retail traders are piling on, a necessary prerequisite for a stock to achieve meme status.According to Bloomberg, Fidelity logged 55,000 buy orders for shares of the SPAC on Thursday.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":851687842,"gmtCreate":1634903995664,"gmtModify":1634903995868,"author":{"id":"3578405270634630","authorId":"3578405270634630","name":"IamIronman","avatar":"https://static.tigerbbs.com/2c6153f62d75694b15ab2c768f3d9e21","vip":1,"crmLevel":4,"crmLevelSwitch":0,"idStr":"3578405270634630","authorIdStr":"3578405270634630"},"htmlText":"MAGA !!!&nbsp;","listText":"MAGA !!!&nbsp;","text":"MAGA !!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/851687842","repostId":1101284007,"repostType":4,"repost":{"id":"1101284007","kind":"news","pubTimestamp":1634884490,"share":"https://www.laohu8.com/m/news/1101284007?lang=&edition=full","pubTime":"2021-10-22 14:34","market":"us","language":"en","title":"Trying to make sense of Donald Trump's SPAC? We break it down for you.","url":"https://stock-news.laohu8.com/highlight/detail?id=1101284007","media":"Business Insider","summary":"Former president Donald Trump is taking his social media company public via SPAC merger.\nShares of t","content":"<ul>\n <li>Former president Donald Trump is taking his social media company public via SPAC merger.</li>\n <li>Shares of the SPAC, Digital World Acquisition Company, more than quadrupled in price on the news.</li>\n <li>Here we answer your burning questions on what's going on with this deal.</li>\n</ul>\nThe SPAC craze is back, riding high on the former president's social media ambitions.\nDonald Trump's soon-to-be-launched social media site, Truth Social, announced Thursday its plans to go public through a special purpose acquisition company, aka a SPAC, called Digital World Acquisition Company. The stock ticker \"DWAC\" trended on Twitter following the announcement.\nAs the news goes viral, here are the answers to burning questions about the art of Trump's latest deal.\nSo what is a SPAC, again?\nSPACs were a nearly dormant financial tool for taking companies public until right around the start of the COVID-19 pandemic, at which point the market became a feeding frenzy for investors, speculators, and retail traders looking to cash in on private companies with big potential for growth.\nA SPAC is just&nbsp;a small public company&nbsp;with a whole lot of cash that has one simple goal: to take a private company public. They are also known as \"blank-check\" companies and the process for a company to go public via SPAC can be easier than the traditional IPO route.\nTo form a SPAC, a few people, often former bankers or corporate executives and sometimes celebrities, get together in the hopes of finding a worthwhile private company. First, the SPAC goes public, issuing shares and raising money from investors. SPAC shares are usually sold at $10 apiece - just like in the case of Trump Media's Digital World Acquisition Corp. SPAC, which raised about $283 million in its IPO, according to a filing with regulators.\nThat war chest of cash will eventually be used to strike a deal with a target company. Digital World Acquisition found Trump Media &amp; Technology Group.\nDWAC stock is up how much?\n357% at Thursday's close! Intraday, it was up even more, gaining more than 400% before pulling back.\nWe've seen&nbsp;SPAC stocks go wild&nbsp;after announcing the target company - but not this wild. SPAC stocks normally jump after the deal is announced, even though the target company isn't public yet (shareholders still need to give the thumbs up).\nThe stock closed Thursday at $45.50, up from $9.96 the previous day. It was the most-traded stock on the market Thursday, with over 470 million shares changing hands.\nWho's behind this SPAC?\nPatrick Orlando is the SPAC's CEO. He's a former investment banker and has a hefty background in the SPAC business (he's been part of three before this one). The company's chief financial officer is Luis Orleans-Braganza, who currently serves on Brazil's National Congress.\nIf you haven't heard of either of them, you may have heard of some of the high flying hedge funds that have invested in the SPAC, like Highbridge Capital Management, Lighthouse Partners, K2 Principal Fund, and Saba Capital Management. They all likely&nbsp;made a killing on&nbsp;Thursday's wild price action.\nSo what's going on here?\nBasically, Orlando incorporated Digital World Acquisition in Miami about a month after Trump lost the election, with the goal of merging with a \"leading emerging growth technology company.\"\nThen today, his SPAC announced it would be taking Trump Media &amp; Technology Group public, on the condition of shareholder approval.\nBut unlike in other SPAC mergers where the target company discloses its financial statements or future revenue potential, the Trump Media &amp; Technology Group doesn't have much in the way of financial projections - even though it got a $1.7 billion valuation in the merger.\nThe goal of the future company is to \"create a rival to the liberal media consortium and fight back against the 'Big Tech' companies of Silicon Valley, which have used their unilateral power to silence opposing voices in America.\" The first step is launching a new site called Truth Social.\nWhat is Truth Social?\nThat remains to be seen. The future social media site hasn't actually launched yet, but it has a&nbsp;waitlist. The statement said the eventual site aims to \"stand up to the tyranny of Big Tech.\nTrump has been wanting to get back on social media since being banned from Twitter and Facebook following the January 6 insurrection - and it hasn't been easy. At first, he tried sending tweets from&nbsp;other people's accounts. Then he&nbsp;launched a blog&nbsp;called \"From the Desk of Donald J. Trump\" that flopped.\n\"We live in a world where the Taliban has a huge presence on Twitter, yet your favorite American President has been silenced. This is unacceptable,\" he said. \"I am excited to send out my first TRUTH on TRUTH Social very soon. TMTG was founded with a mission to give a voice to all.\"\nA beta version of the site could launch as soon as November 2021.\nIs this thing for real?\nEven so, Trump's company going public is all dependent on shareholder approval. According to Julian Klymochko who&nbsp;runs a SPAC-focused exchange-traded fund, he's never seen a SPAC deal get voted down. Shareholders are incentivized to approve it because of assets called warrants that they receive at the beginning of the SPAC. No deal, and those warrants are worthless.\nIs this the next meme stock?\nIf price action is any indication, it might already be a meme. On top of that, retail traders are piling on, a necessary prerequisite for a stock to achieve meme status.According to Bloomberg, Fidelity logged 55,000 buy orders for shares of the SPAC on Thursday.","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Trying to make sense of Donald Trump's SPAC? We break it down for you.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTrying to make sense of Donald Trump's SPAC? We break it down for you.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-10-22 14:34 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://markets.businessinsider.com/news/stocks/donald-trump-spac-digital-world-acquisition-truth-social-explained-2021-10>Business Insider</a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\nFormer president Donald Trump is taking his social media company public via SPAC merger.\nShares of the SPAC, Digital World Acquisition Company, more than quadrupled in price on the news.\nHere we ...\n\n<a href=\"https://markets.businessinsider.com/news/stocks/donald-trump-spac-digital-world-acquisition-truth-social-explained-2021-10\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://markets.businessinsider.com/news/stocks/donald-trump-spac-digital-world-acquisition-truth-social-explained-2021-10","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1101284007","content_text":"Former president Donald Trump is taking his social media company public via SPAC merger.\nShares of the SPAC, Digital World Acquisition Company, more than quadrupled in price on the news.\nHere we answer your burning questions on what's going on with this deal.\n\nThe SPAC craze is back, riding high on the former president's social media ambitions.\nDonald Trump's soon-to-be-launched social media site, Truth Social, announced Thursday its plans to go public through a special purpose acquisition company, aka a SPAC, called Digital World Acquisition Company. The stock ticker \"DWAC\" trended on Twitter following the announcement.\nAs the news goes viral, here are the answers to burning questions about the art of Trump's latest deal.\nSo what is a SPAC, again?\nSPACs were a nearly dormant financial tool for taking companies public until right around the start of the COVID-19 pandemic, at which point the market became a feeding frenzy for investors, speculators, and retail traders looking to cash in on private companies with big potential for growth.\nA SPAC is just a small public company with a whole lot of cash that has one simple goal: to take a private company public. They are also known as \"blank-check\" companies and the process for a company to go public via SPAC can be easier than the traditional IPO route.\nTo form a SPAC, a few people, often former bankers or corporate executives and sometimes celebrities, get together in the hopes of finding a worthwhile private company. First, the SPAC goes public, issuing shares and raising money from investors. SPAC shares are usually sold at $10 apiece - just like in the case of Trump Media's Digital World Acquisition Corp. SPAC, which raised about $283 million in its IPO, according to a filing with regulators.\nThat war chest of cash will eventually be used to strike a deal with a target company. Digital World Acquisition found Trump Media & Technology Group.\nDWAC stock is up how much?\n357% at Thursday's close! Intraday, it was up even more, gaining more than 400% before pulling back.\nWe've seen SPAC stocks go wild after announcing the target company - but not this wild. SPAC stocks normally jump after the deal is announced, even though the target company isn't public yet (shareholders still need to give the thumbs up).\nThe stock closed Thursday at $45.50, up from $9.96 the previous day. It was the most-traded stock on the market Thursday, with over 470 million shares changing hands.\nWho's behind this SPAC?\nPatrick Orlando is the SPAC's CEO. He's a former investment banker and has a hefty background in the SPAC business (he's been part of three before this one). The company's chief financial officer is Luis Orleans-Braganza, who currently serves on Brazil's National Congress.\nIf you haven't heard of either of them, you may have heard of some of the high flying hedge funds that have invested in the SPAC, like Highbridge Capital Management, Lighthouse Partners, K2 Principal Fund, and Saba Capital Management. They all likely made a killing on Thursday's wild price action.\nSo what's going on here?\nBasically, Orlando incorporated Digital World Acquisition in Miami about a month after Trump lost the election, with the goal of merging with a \"leading emerging growth technology company.\"\nThen today, his SPAC announced it would be taking Trump Media & Technology Group public, on the condition of shareholder approval.\nBut unlike in other SPAC mergers where the target company discloses its financial statements or future revenue potential, the Trump Media & Technology Group doesn't have much in the way of financial projections - even though it got a $1.7 billion valuation in the merger.\nThe goal of the future company is to \"create a rival to the liberal media consortium and fight back against the 'Big Tech' companies of Silicon Valley, which have used their unilateral power to silence opposing voices in America.\" The first step is launching a new site called Truth Social.\nWhat is Truth Social?\nThat remains to be seen. The future social media site hasn't actually launched yet, but it has a waitlist. The statement said the eventual site aims to \"stand up to the tyranny of Big Tech.\nTrump has been wanting to get back on social media since being banned from Twitter and Facebook following the January 6 insurrection - and it hasn't been easy. At first, he tried sending tweets from other people's accounts. Then he launched a blog called \"From the Desk of Donald J. Trump\" that flopped.\n\"We live in a world where the Taliban has a huge presence on Twitter, yet your favorite American President has been silenced. This is unacceptable,\" he said. \"I am excited to send out my first TRUTH on TRUTH Social very soon. TMTG was founded with a mission to give a voice to all.\"\nA beta version of the site could launch as soon as November 2021.\nIs this thing for real?\nEven so, Trump's company going public is all dependent on shareholder approval. According to Julian Klymochko who runs a SPAC-focused exchange-traded fund, he's never seen a SPAC deal get voted down. Shareholders are incentivized to approve it because of assets called warrants that they receive at the beginning of the SPAC. No deal, and those warrants are worthless.\nIs this the next meme stock?\nIf price action is any indication, it might already be a meme. On top of that, retail traders are piling on, a necessary prerequisite for a stock to achieve meme status.According to Bloomberg, Fidelity logged 55,000 buy orders for shares of the SPAC on Thursday.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":851683797,"gmtCreate":1634903216741,"gmtModify":1634903374042,"author":{"id":"3572988793196593","authorId":"3572988793196593","name":"Foxie","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3572988793196593","authorIdStr":"3572988793196593"},"htmlText":"Mango powerrrrrrr","listText":"Mango powerrrrrrr","text":"Mango powerrrrrrr","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/851683797","repostId":1101284007,"repostType":4,"repost":{"id":"1101284007","kind":"news","pubTimestamp":1634884490,"share":"https://www.laohu8.com/m/news/1101284007?lang=&edition=full","pubTime":"2021-10-22 14:34","market":"us","language":"en","title":"Trying to make sense of Donald Trump's SPAC? We break it down for you.","url":"https://stock-news.laohu8.com/highlight/detail?id=1101284007","media":"Business Insider","summary":"Former president Donald Trump is taking his social media company public via SPAC merger.\nShares of t","content":"<ul>\n <li>Former president Donald Trump is taking his social media company public via SPAC merger.</li>\n <li>Shares of the SPAC, Digital World Acquisition Company, more than quadrupled in price on the news.</li>\n <li>Here we answer your burning questions on what's going on with this deal.</li>\n</ul>\nThe SPAC craze is back, riding high on the former president's social media ambitions.\nDonald Trump's soon-to-be-launched social media site, Truth Social, announced Thursday its plans to go public through a special purpose acquisition company, aka a SPAC, called Digital World Acquisition Company. The stock ticker \"DWAC\" trended on Twitter following the announcement.\nAs the news goes viral, here are the answers to burning questions about the art of Trump's latest deal.\nSo what is a SPAC, again?\nSPACs were a nearly dormant financial tool for taking companies public until right around the start of the COVID-19 pandemic, at which point the market became a feeding frenzy for investors, speculators, and retail traders looking to cash in on private companies with big potential for growth.\nA SPAC is just&nbsp;a small public company&nbsp;with a whole lot of cash that has one simple goal: to take a private company public. They are also known as \"blank-check\" companies and the process for a company to go public via SPAC can be easier than the traditional IPO route.\nTo form a SPAC, a few people, often former bankers or corporate executives and sometimes celebrities, get together in the hopes of finding a worthwhile private company. First, the SPAC goes public, issuing shares and raising money from investors. SPAC shares are usually sold at $10 apiece - just like in the case of Trump Media's Digital World Acquisition Corp. SPAC, which raised about $283 million in its IPO, according to a filing with regulators.\nThat war chest of cash will eventually be used to strike a deal with a target company. Digital World Acquisition found Trump Media &amp; Technology Group.\nDWAC stock is up how much?\n357% at Thursday's close! Intraday, it was up even more, gaining more than 400% before pulling back.\nWe've seen&nbsp;SPAC stocks go wild&nbsp;after announcing the target company - but not this wild. SPAC stocks normally jump after the deal is announced, even though the target company isn't public yet (shareholders still need to give the thumbs up).\nThe stock closed Thursday at $45.50, up from $9.96 the previous day. It was the most-traded stock on the market Thursday, with over 470 million shares changing hands.\nWho's behind this SPAC?\nPatrick Orlando is the SPAC's CEO. He's a former investment banker and has a hefty background in the SPAC business (he's been part of three before this one). The company's chief financial officer is Luis Orleans-Braganza, who currently serves on Brazil's National Congress.\nIf you haven't heard of either of them, you may have heard of some of the high flying hedge funds that have invested in the SPAC, like Highbridge Capital Management, Lighthouse Partners, K2 Principal Fund, and Saba Capital Management. They all likely&nbsp;made a killing on&nbsp;Thursday's wild price action.\nSo what's going on here?\nBasically, Orlando incorporated Digital World Acquisition in Miami about a month after Trump lost the election, with the goal of merging with a \"leading emerging growth technology company.\"\nThen today, his SPAC announced it would be taking Trump Media &amp; Technology Group public, on the condition of shareholder approval.\nBut unlike in other SPAC mergers where the target company discloses its financial statements or future revenue potential, the Trump Media &amp; Technology Group doesn't have much in the way of financial projections - even though it got a $1.7 billion valuation in the merger.\nThe goal of the future company is to \"create a rival to the liberal media consortium and fight back against the 'Big Tech' companies of Silicon Valley, which have used their unilateral power to silence opposing voices in America.\" The first step is launching a new site called Truth Social.\nWhat is Truth Social?\nThat remains to be seen. The future social media site hasn't actually launched yet, but it has a&nbsp;waitlist. The statement said the eventual site aims to \"stand up to the tyranny of Big Tech.\nTrump has been wanting to get back on social media since being banned from Twitter and Facebook following the January 6 insurrection - and it hasn't been easy. At first, he tried sending tweets from&nbsp;other people's accounts. Then he&nbsp;launched a blog&nbsp;called \"From the Desk of Donald J. Trump\" that flopped.\n\"We live in a world where the Taliban has a huge presence on Twitter, yet your favorite American President has been silenced. This is unacceptable,\" he said. \"I am excited to send out my first TRUTH on TRUTH Social very soon. TMTG was founded with a mission to give a voice to all.\"\nA beta version of the site could launch as soon as November 2021.\nIs this thing for real?\nEven so, Trump's company going public is all dependent on shareholder approval. According to Julian Klymochko who&nbsp;runs a SPAC-focused exchange-traded fund, he's never seen a SPAC deal get voted down. Shareholders are incentivized to approve it because of assets called warrants that they receive at the beginning of the SPAC. No deal, and those warrants are worthless.\nIs this the next meme stock?\nIf price action is any indication, it might already be a meme. On top of that, retail traders are piling on, a necessary prerequisite for a stock to achieve meme status.According to Bloomberg, Fidelity logged 55,000 buy orders for shares of the SPAC on Thursday.","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Trying to make sense of Donald Trump's SPAC? We break it down for you.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTrying to make sense of Donald Trump's SPAC? We break it down for you.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-10-22 14:34 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://markets.businessinsider.com/news/stocks/donald-trump-spac-digital-world-acquisition-truth-social-explained-2021-10>Business Insider</a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\nFormer president Donald Trump is taking his social media company public via SPAC merger.\nShares of the SPAC, Digital World Acquisition Company, more than quadrupled in price on the news.\nHere we ...\n\n<a href=\"https://markets.businessinsider.com/news/stocks/donald-trump-spac-digital-world-acquisition-truth-social-explained-2021-10\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://markets.businessinsider.com/news/stocks/donald-trump-spac-digital-world-acquisition-truth-social-explained-2021-10","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1101284007","content_text":"Former president Donald Trump is taking his social media company public via SPAC merger.\nShares of the SPAC, Digital World Acquisition Company, more than quadrupled in price on the news.\nHere we answer your burning questions on what's going on with this deal.\n\nThe SPAC craze is back, riding high on the former president's social media ambitions.\nDonald Trump's soon-to-be-launched social media site, Truth Social, announced Thursday its plans to go public through a special purpose acquisition company, aka a SPAC, called Digital World Acquisition Company. The stock ticker \"DWAC\" trended on Twitter following the announcement.\nAs the news goes viral, here are the answers to burning questions about the art of Trump's latest deal.\nSo what is a SPAC, again?\nSPACs were a nearly dormant financial tool for taking companies public until right around the start of the COVID-19 pandemic, at which point the market became a feeding frenzy for investors, speculators, and retail traders looking to cash in on private companies with big potential for growth.\nA SPAC is just a small public company with a whole lot of cash that has one simple goal: to take a private company public. They are also known as \"blank-check\" companies and the process for a company to go public via SPAC can be easier than the traditional IPO route.\nTo form a SPAC, a few people, often former bankers or corporate executives and sometimes celebrities, get together in the hopes of finding a worthwhile private company. First, the SPAC goes public, issuing shares and raising money from investors. SPAC shares are usually sold at $10 apiece - just like in the case of Trump Media's Digital World Acquisition Corp. SPAC, which raised about $283 million in its IPO, according to a filing with regulators.\nThat war chest of cash will eventually be used to strike a deal with a target company. Digital World Acquisition found Trump Media & Technology Group.\nDWAC stock is up how much?\n357% at Thursday's close! Intraday, it was up even more, gaining more than 400% before pulling back.\nWe've seen SPAC stocks go wild after announcing the target company - but not this wild. SPAC stocks normally jump after the deal is announced, even though the target company isn't public yet (shareholders still need to give the thumbs up).\nThe stock closed Thursday at $45.50, up from $9.96 the previous day. It was the most-traded stock on the market Thursday, with over 470 million shares changing hands.\nWho's behind this SPAC?\nPatrick Orlando is the SPAC's CEO. He's a former investment banker and has a hefty background in the SPAC business (he's been part of three before this one). The company's chief financial officer is Luis Orleans-Braganza, who currently serves on Brazil's National Congress.\nIf you haven't heard of either of them, you may have heard of some of the high flying hedge funds that have invested in the SPAC, like Highbridge Capital Management, Lighthouse Partners, K2 Principal Fund, and Saba Capital Management. They all likely made a killing on Thursday's wild price action.\nSo what's going on here?\nBasically, Orlando incorporated Digital World Acquisition in Miami about a month after Trump lost the election, with the goal of merging with a \"leading emerging growth technology company.\"\nThen today, his SPAC announced it would be taking Trump Media & Technology Group public, on the condition of shareholder approval.\nBut unlike in other SPAC mergers where the target company discloses its financial statements or future revenue potential, the Trump Media & Technology Group doesn't have much in the way of financial projections - even though it got a $1.7 billion valuation in the merger.\nThe goal of the future company is to \"create a rival to the liberal media consortium and fight back against the 'Big Tech' companies of Silicon Valley, which have used their unilateral power to silence opposing voices in America.\" The first step is launching a new site called Truth Social.\nWhat is Truth Social?\nThat remains to be seen. The future social media site hasn't actually launched yet, but it has a waitlist. The statement said the eventual site aims to \"stand up to the tyranny of Big Tech.\nTrump has been wanting to get back on social media since being banned from Twitter and Facebook following the January 6 insurrection - and it hasn't been easy. At first, he tried sending tweets from other people's accounts. Then he launched a blog called \"From the Desk of Donald J. Trump\" that flopped.\n\"We live in a world where the Taliban has a huge presence on Twitter, yet your favorite American President has been silenced. This is unacceptable,\" he said. \"I am excited to send out my first TRUTH on TRUTH Social very soon. TMTG was founded with a mission to give a voice to all.\"\nA beta version of the site could launch as soon as November 2021.\nIs this thing for real?\nEven so, Trump's company going public is all dependent on shareholder approval. According to Julian Klymochko who runs a SPAC-focused exchange-traded fund, he's never seen a SPAC deal get voted down. Shareholders are incentivized to approve it because of assets called warrants that they receive at the beginning of the SPAC. No deal, and those warrants are worthless.\nIs this the next meme stock?\nIf price action is any indication, it might already be a meme. On top of that, retail traders are piling on, a necessary prerequisite for a stock to achieve meme status.According to Bloomberg, Fidelity logged 55,000 buy orders for shares of the SPAC on Thursday.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":851680358,"gmtCreate":1634902931655,"gmtModify":1634902992675,"author":{"id":"3575931986549530","authorId":"3575931986549530","name":"Zhem","avatar":"https://static.tigerbbs.com/a416161c2f96e83b8298ad7bdd893247","vip":1,"crmLevel":5,"crmLevelSwitch":0,"idStr":"3575931986549530","authorIdStr":"3575931986549530"},"htmlText":"Ho","listText":"Ho","text":"Ho","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/851680358","repostId":1101284007,"repostType":4,"repost":{"id":"1101284007","kind":"news","pubTimestamp":1634884490,"share":"https://www.laohu8.com/m/news/1101284007?lang=&edition=full","pubTime":"2021-10-22 14:34","market":"us","language":"en","title":"Trying to make sense of Donald Trump's SPAC? We break it down for you.","url":"https://stock-news.laohu8.com/highlight/detail?id=1101284007","media":"Business Insider","summary":"Former president Donald Trump is taking his social media company public via SPAC merger.\nShares of t","content":"<ul>\n <li>Former president Donald Trump is taking his social media company public via SPAC merger.</li>\n <li>Shares of the SPAC, Digital World Acquisition Company, more than quadrupled in price on the news.</li>\n <li>Here we answer your burning questions on what's going on with this deal.</li>\n</ul>\nThe SPAC craze is back, riding high on the former president's social media ambitions.\nDonald Trump's soon-to-be-launched social media site, Truth Social, announced Thursday its plans to go public through a special purpose acquisition company, aka a SPAC, called Digital World Acquisition Company. The stock ticker \"DWAC\" trended on Twitter following the announcement.\nAs the news goes viral, here are the answers to burning questions about the art of Trump's latest deal.\nSo what is a SPAC, again?\nSPACs were a nearly dormant financial tool for taking companies public until right around the start of the COVID-19 pandemic, at which point the market became a feeding frenzy for investors, speculators, and retail traders looking to cash in on private companies with big potential for growth.\nA SPAC is just&nbsp;a small public company&nbsp;with a whole lot of cash that has one simple goal: to take a private company public. They are also known as \"blank-check\" companies and the process for a company to go public via SPAC can be easier than the traditional IPO route.\nTo form a SPAC, a few people, often former bankers or corporate executives and sometimes celebrities, get together in the hopes of finding a worthwhile private company. First, the SPAC goes public, issuing shares and raising money from investors. SPAC shares are usually sold at $10 apiece - just like in the case of Trump Media's Digital World Acquisition Corp. SPAC, which raised about $283 million in its IPO, according to a filing with regulators.\nThat war chest of cash will eventually be used to strike a deal with a target company. Digital World Acquisition found Trump Media &amp; Technology Group.\nDWAC stock is up how much?\n357% at Thursday's close! Intraday, it was up even more, gaining more than 400% before pulling back.\nWe've seen&nbsp;SPAC stocks go wild&nbsp;after announcing the target company - but not this wild. SPAC stocks normally jump after the deal is announced, even though the target company isn't public yet (shareholders still need to give the thumbs up).\nThe stock closed Thursday at $45.50, up from $9.96 the previous day. It was the most-traded stock on the market Thursday, with over 470 million shares changing hands.\nWho's behind this SPAC?\nPatrick Orlando is the SPAC's CEO. He's a former investment banker and has a hefty background in the SPAC business (he's been part of three before this one). The company's chief financial officer is Luis Orleans-Braganza, who currently serves on Brazil's National Congress.\nIf you haven't heard of either of them, you may have heard of some of the high flying hedge funds that have invested in the SPAC, like Highbridge Capital Management, Lighthouse Partners, K2 Principal Fund, and Saba Capital Management. They all likely&nbsp;made a killing on&nbsp;Thursday's wild price action.\nSo what's going on here?\nBasically, Orlando incorporated Digital World Acquisition in Miami about a month after Trump lost the election, with the goal of merging with a \"leading emerging growth technology company.\"\nThen today, his SPAC announced it would be taking Trump Media &amp; Technology Group public, on the condition of shareholder approval.\nBut unlike in other SPAC mergers where the target company discloses its financial statements or future revenue potential, the Trump Media &amp; Technology Group doesn't have much in the way of financial projections - even though it got a $1.7 billion valuation in the merger.\nThe goal of the future company is to \"create a rival to the liberal media consortium and fight back against the 'Big Tech' companies of Silicon Valley, which have used their unilateral power to silence opposing voices in America.\" The first step is launching a new site called Truth Social.\nWhat is Truth Social?\nThat remains to be seen. The future social media site hasn't actually launched yet, but it has a&nbsp;waitlist. The statement said the eventual site aims to \"stand up to the tyranny of Big Tech.\nTrump has been wanting to get back on social media since being banned from Twitter and Facebook following the January 6 insurrection - and it hasn't been easy. At first, he tried sending tweets from&nbsp;other people's accounts. Then he&nbsp;launched a blog&nbsp;called \"From the Desk of Donald J. Trump\" that flopped.\n\"We live in a world where the Taliban has a huge presence on Twitter, yet your favorite American President has been silenced. This is unacceptable,\" he said. \"I am excited to send out my first TRUTH on TRUTH Social very soon. TMTG was founded with a mission to give a voice to all.\"\nA beta version of the site could launch as soon as November 2021.\nIs this thing for real?\nEven so, Trump's company going public is all dependent on shareholder approval. According to Julian Klymochko who&nbsp;runs a SPAC-focused exchange-traded fund, he's never seen a SPAC deal get voted down. Shareholders are incentivized to approve it because of assets called warrants that they receive at the beginning of the SPAC. No deal, and those warrants are worthless.\nIs this the next meme stock?\nIf price action is any indication, it might already be a meme. On top of that, retail traders are piling on, a necessary prerequisite for a stock to achieve meme status.According to Bloomberg, Fidelity logged 55,000 buy orders for shares of the SPAC on Thursday.","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Trying to make sense of Donald Trump's SPAC? We break it down for you.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTrying to make sense of Donald Trump's SPAC? We break it down for you.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-10-22 14:34 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://markets.businessinsider.com/news/stocks/donald-trump-spac-digital-world-acquisition-truth-social-explained-2021-10>Business Insider</a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\nFormer president Donald Trump is taking his social media company public via SPAC merger.\nShares of the SPAC, Digital World Acquisition Company, more than quadrupled in price on the news.\nHere we ...\n\n<a href=\"https://markets.businessinsider.com/news/stocks/donald-trump-spac-digital-world-acquisition-truth-social-explained-2021-10\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://markets.businessinsider.com/news/stocks/donald-trump-spac-digital-world-acquisition-truth-social-explained-2021-10","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1101284007","content_text":"Former president Donald Trump is taking his social media company public via SPAC merger.\nShares of the SPAC, Digital World Acquisition Company, more than quadrupled in price on the news.\nHere we answer your burning questions on what's going on with this deal.\n\nThe SPAC craze is back, riding high on the former president's social media ambitions.\nDonald Trump's soon-to-be-launched social media site, Truth Social, announced Thursday its plans to go public through a special purpose acquisition company, aka a SPAC, called Digital World Acquisition Company. The stock ticker \"DWAC\" trended on Twitter following the announcement.\nAs the news goes viral, here are the answers to burning questions about the art of Trump's latest deal.\nSo what is a SPAC, again?\nSPACs were a nearly dormant financial tool for taking companies public until right around the start of the COVID-19 pandemic, at which point the market became a feeding frenzy for investors, speculators, and retail traders looking to cash in on private companies with big potential for growth.\nA SPAC is just a small public company with a whole lot of cash that has one simple goal: to take a private company public. They are also known as \"blank-check\" companies and the process for a company to go public via SPAC can be easier than the traditional IPO route.\nTo form a SPAC, a few people, often former bankers or corporate executives and sometimes celebrities, get together in the hopes of finding a worthwhile private company. First, the SPAC goes public, issuing shares and raising money from investors. SPAC shares are usually sold at $10 apiece - just like in the case of Trump Media's Digital World Acquisition Corp. SPAC, which raised about $283 million in its IPO, according to a filing with regulators.\nThat war chest of cash will eventually be used to strike a deal with a target company. Digital World Acquisition found Trump Media & Technology Group.\nDWAC stock is up how much?\n357% at Thursday's close! Intraday, it was up even more, gaining more than 400% before pulling back.\nWe've seen SPAC stocks go wild after announcing the target company - but not this wild. SPAC stocks normally jump after the deal is announced, even though the target company isn't public yet (shareholders still need to give the thumbs up).\nThe stock closed Thursday at $45.50, up from $9.96 the previous day. It was the most-traded stock on the market Thursday, with over 470 million shares changing hands.\nWho's behind this SPAC?\nPatrick Orlando is the SPAC's CEO. He's a former investment banker and has a hefty background in the SPAC business (he's been part of three before this one). The company's chief financial officer is Luis Orleans-Braganza, who currently serves on Brazil's National Congress.\nIf you haven't heard of either of them, you may have heard of some of the high flying hedge funds that have invested in the SPAC, like Highbridge Capital Management, Lighthouse Partners, K2 Principal Fund, and Saba Capital Management. They all likely made a killing on Thursday's wild price action.\nSo what's going on here?\nBasically, Orlando incorporated Digital World Acquisition in Miami about a month after Trump lost the election, with the goal of merging with a \"leading emerging growth technology company.\"\nThen today, his SPAC announced it would be taking Trump Media & Technology Group public, on the condition of shareholder approval.\nBut unlike in other SPAC mergers where the target company discloses its financial statements or future revenue potential, the Trump Media & Technology Group doesn't have much in the way of financial projections - even though it got a $1.7 billion valuation in the merger.\nThe goal of the future company is to \"create a rival to the liberal media consortium and fight back against the 'Big Tech' companies of Silicon Valley, which have used their unilateral power to silence opposing voices in America.\" The first step is launching a new site called Truth Social.\nWhat is Truth Social?\nThat remains to be seen. The future social media site hasn't actually launched yet, but it has a waitlist. The statement said the eventual site aims to \"stand up to the tyranny of Big Tech.\nTrump has been wanting to get back on social media since being banned from Twitter and Facebook following the January 6 insurrection - and it hasn't been easy. At first, he tried sending tweets from other people's accounts. Then he launched a blog called \"From the Desk of Donald J. Trump\" that flopped.\n\"We live in a world where the Taliban has a huge presence on Twitter, yet your favorite American President has been silenced. This is unacceptable,\" he said. \"I am excited to send out my first TRUTH on TRUTH Social very soon. TMTG was founded with a mission to give a voice to all.\"\nA beta version of the site could launch as soon as November 2021.\nIs this thing for real?\nEven so, Trump's company going public is all dependent on shareholder approval. According to Julian Klymochko who runs a SPAC-focused exchange-traded fund, he's never seen a SPAC deal get voted down. Shareholders are incentivized to approve it because of assets called warrants that they receive at the beginning of the SPAC. No deal, and those warrants are worthless.\nIs this the next meme stock?\nIf price action is any indication, it might already be a meme. On top of that, retail traders are piling on, a necessary prerequisite for a stock to achieve meme status.According to Bloomberg, Fidelity logged 55,000 buy orders for shares of the SPAC on Thursday.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":851615012,"gmtCreate":1634902565737,"gmtModify":1634902565837,"author":{"id":"4095773423628750","authorId":"4095773423628750","name":"NgaBNN86","avatar":"https://static.tigerbbs.com/f45cc4fcf3b502d8fff1ce863fed3020","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"4095773423628750","authorIdStr":"4095773423628750"},"htmlText":"So exciting&nbsp;","listText":"So exciting&nbsp;","text":"So exciting","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/851615012","repostId":1101284007,"repostType":4,"repost":{"id":"1101284007","kind":"news","pubTimestamp":1634884490,"share":"https://www.laohu8.com/m/news/1101284007?lang=&edition=full","pubTime":"2021-10-22 14:34","market":"us","language":"en","title":"Trying to make sense of Donald Trump's SPAC? We break it down for you.","url":"https://stock-news.laohu8.com/highlight/detail?id=1101284007","media":"Business Insider","summary":"Former president Donald Trump is taking his social media company public via SPAC merger.\nShares of t","content":"<ul>\n <li>Former president Donald Trump is taking his social media company public via SPAC merger.</li>\n <li>Shares of the SPAC, Digital World Acquisition Company, more than quadrupled in price on the news.</li>\n <li>Here we answer your burning questions on what's going on with this deal.</li>\n</ul>\nThe SPAC craze is back, riding high on the former president's social media ambitions.\nDonald Trump's soon-to-be-launched social media site, Truth Social, announced Thursday its plans to go public through a special purpose acquisition company, aka a SPAC, called Digital World Acquisition Company. The stock ticker \"DWAC\" trended on Twitter following the announcement.\nAs the news goes viral, here are the answers to burning questions about the art of Trump's latest deal.\nSo what is a SPAC, again?\nSPACs were a nearly dormant financial tool for taking companies public until right around the start of the COVID-19 pandemic, at which point the market became a feeding frenzy for investors, speculators, and retail traders looking to cash in on private companies with big potential for growth.\nA SPAC is just&nbsp;a small public company&nbsp;with a whole lot of cash that has one simple goal: to take a private company public. They are also known as \"blank-check\" companies and the process for a company to go public via SPAC can be easier than the traditional IPO route.\nTo form a SPAC, a few people, often former bankers or corporate executives and sometimes celebrities, get together in the hopes of finding a worthwhile private company. First, the SPAC goes public, issuing shares and raising money from investors. SPAC shares are usually sold at $10 apiece - just like in the case of Trump Media's Digital World Acquisition Corp. SPAC, which raised about $283 million in its IPO, according to a filing with regulators.\nThat war chest of cash will eventually be used to strike a deal with a target company. Digital World Acquisition found Trump Media &amp; Technology Group.\nDWAC stock is up how much?\n357% at Thursday's close! Intraday, it was up even more, gaining more than 400% before pulling back.\nWe've seen&nbsp;SPAC stocks go wild&nbsp;after announcing the target company - but not this wild. SPAC stocks normally jump after the deal is announced, even though the target company isn't public yet (shareholders still need to give the thumbs up).\nThe stock closed Thursday at $45.50, up from $9.96 the previous day. It was the most-traded stock on the market Thursday, with over 470 million shares changing hands.\nWho's behind this SPAC?\nPatrick Orlando is the SPAC's CEO. He's a former investment banker and has a hefty background in the SPAC business (he's been part of three before this one). The company's chief financial officer is Luis Orleans-Braganza, who currently serves on Brazil's National Congress.\nIf you haven't heard of either of them, you may have heard of some of the high flying hedge funds that have invested in the SPAC, like Highbridge Capital Management, Lighthouse Partners, K2 Principal Fund, and Saba Capital Management. They all likely&nbsp;made a killing on&nbsp;Thursday's wild price action.\nSo what's going on here?\nBasically, Orlando incorporated Digital World Acquisition in Miami about a month after Trump lost the election, with the goal of merging with a \"leading emerging growth technology company.\"\nThen today, his SPAC announced it would be taking Trump Media &amp; Technology Group public, on the condition of shareholder approval.\nBut unlike in other SPAC mergers where the target company discloses its financial statements or future revenue potential, the Trump Media &amp; Technology Group doesn't have much in the way of financial projections - even though it got a $1.7 billion valuation in the merger.\nThe goal of the future company is to \"create a rival to the liberal media consortium and fight back against the 'Big Tech' companies of Silicon Valley, which have used their unilateral power to silence opposing voices in America.\" The first step is launching a new site called Truth Social.\nWhat is Truth Social?\nThat remains to be seen. The future social media site hasn't actually launched yet, but it has a&nbsp;waitlist. The statement said the eventual site aims to \"stand up to the tyranny of Big Tech.\nTrump has been wanting to get back on social media since being banned from Twitter and Facebook following the January 6 insurrection - and it hasn't been easy. At first, he tried sending tweets from&nbsp;other people's accounts. Then he&nbsp;launched a blog&nbsp;called \"From the Desk of Donald J. Trump\" that flopped.\n\"We live in a world where the Taliban has a huge presence on Twitter, yet your favorite American President has been silenced. This is unacceptable,\" he said. \"I am excited to send out my first TRUTH on TRUTH Social very soon. TMTG was founded with a mission to give a voice to all.\"\nA beta version of the site could launch as soon as November 2021.\nIs this thing for real?\nEven so, Trump's company going public is all dependent on shareholder approval. According to Julian Klymochko who&nbsp;runs a SPAC-focused exchange-traded fund, he's never seen a SPAC deal get voted down. Shareholders are incentivized to approve it because of assets called warrants that they receive at the beginning of the SPAC. No deal, and those warrants are worthless.\nIs this the next meme stock?\nIf price action is any indication, it might already be a meme. On top of that, retail traders are piling on, a necessary prerequisite for a stock to achieve meme status.According to Bloomberg, Fidelity logged 55,000 buy orders for shares of the SPAC on Thursday.","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Trying to make sense of Donald Trump's SPAC? We break it down for you.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTrying to make sense of Donald Trump's SPAC? We break it down for you.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-10-22 14:34 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://markets.businessinsider.com/news/stocks/donald-trump-spac-digital-world-acquisition-truth-social-explained-2021-10>Business Insider</a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\nFormer president Donald Trump is taking his social media company public via SPAC merger.\nShares of the SPAC, Digital World Acquisition Company, more than quadrupled in price on the news.\nHere we ...\n\n<a href=\"https://markets.businessinsider.com/news/stocks/donald-trump-spac-digital-world-acquisition-truth-social-explained-2021-10\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://markets.businessinsider.com/news/stocks/donald-trump-spac-digital-world-acquisition-truth-social-explained-2021-10","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1101284007","content_text":"Former president Donald Trump is taking his social media company public via SPAC merger.\nShares of the SPAC, Digital World Acquisition Company, more than quadrupled in price on the news.\nHere we answer your burning questions on what's going on with this deal.\n\nThe SPAC craze is back, riding high on the former president's social media ambitions.\nDonald Trump's soon-to-be-launched social media site, Truth Social, announced Thursday its plans to go public through a special purpose acquisition company, aka a SPAC, called Digital World Acquisition Company. The stock ticker \"DWAC\" trended on Twitter following the announcement.\nAs the news goes viral, here are the answers to burning questions about the art of Trump's latest deal.\nSo what is a SPAC, again?\nSPACs were a nearly dormant financial tool for taking companies public until right around the start of the COVID-19 pandemic, at which point the market became a feeding frenzy for investors, speculators, and retail traders looking to cash in on private companies with big potential for growth.\nA SPAC is just a small public company with a whole lot of cash that has one simple goal: to take a private company public. They are also known as \"blank-check\" companies and the process for a company to go public via SPAC can be easier than the traditional IPO route.\nTo form a SPAC, a few people, often former bankers or corporate executives and sometimes celebrities, get together in the hopes of finding a worthwhile private company. First, the SPAC goes public, issuing shares and raising money from investors. SPAC shares are usually sold at $10 apiece - just like in the case of Trump Media's Digital World Acquisition Corp. SPAC, which raised about $283 million in its IPO, according to a filing with regulators.\nThat war chest of cash will eventually be used to strike a deal with a target company. Digital World Acquisition found Trump Media & Technology Group.\nDWAC stock is up how much?\n357% at Thursday's close! Intraday, it was up even more, gaining more than 400% before pulling back.\nWe've seen SPAC stocks go wild after announcing the target company - but not this wild. SPAC stocks normally jump after the deal is announced, even though the target company isn't public yet (shareholders still need to give the thumbs up).\nThe stock closed Thursday at $45.50, up from $9.96 the previous day. It was the most-traded stock on the market Thursday, with over 470 million shares changing hands.\nWho's behind this SPAC?\nPatrick Orlando is the SPAC's CEO. He's a former investment banker and has a hefty background in the SPAC business (he's been part of three before this one). The company's chief financial officer is Luis Orleans-Braganza, who currently serves on Brazil's National Congress.\nIf you haven't heard of either of them, you may have heard of some of the high flying hedge funds that have invested in the SPAC, like Highbridge Capital Management, Lighthouse Partners, K2 Principal Fund, and Saba Capital Management. They all likely made a killing on Thursday's wild price action.\nSo what's going on here?\nBasically, Orlando incorporated Digital World Acquisition in Miami about a month after Trump lost the election, with the goal of merging with a \"leading emerging growth technology company.\"\nThen today, his SPAC announced it would be taking Trump Media & Technology Group public, on the condition of shareholder approval.\nBut unlike in other SPAC mergers where the target company discloses its financial statements or future revenue potential, the Trump Media & Technology Group doesn't have much in the way of financial projections - even though it got a $1.7 billion valuation in the merger.\nThe goal of the future company is to \"create a rival to the liberal media consortium and fight back against the 'Big Tech' companies of Silicon Valley, which have used their unilateral power to silence opposing voices in America.\" The first step is launching a new site called Truth Social.\nWhat is Truth Social?\nThat remains to be seen. The future social media site hasn't actually launched yet, but it has a waitlist. The statement said the eventual site aims to \"stand up to the tyranny of Big Tech.\nTrump has been wanting to get back on social media since being banned from Twitter and Facebook following the January 6 insurrection - and it hasn't been easy. At first, he tried sending tweets from other people's accounts. Then he launched a blog called \"From the Desk of Donald J. Trump\" that flopped.\n\"We live in a world where the Taliban has a huge presence on Twitter, yet your favorite American President has been silenced. This is unacceptable,\" he said. \"I am excited to send out my first TRUTH on TRUTH Social very soon. TMTG was founded with a mission to give a voice to all.\"\nA beta version of the site could launch as soon as November 2021.\nIs this thing for real?\nEven so, Trump's company going public is all dependent on shareholder approval. According to Julian Klymochko who runs a SPAC-focused exchange-traded fund, he's never seen a SPAC deal get voted down. Shareholders are incentivized to approve it because of assets called warrants that they receive at the beginning of the SPAC. No deal, and those warrants are worthless.\nIs this the next meme stock?\nIf price action is any indication, it might already be a meme. On top of that, retail traders are piling on, a necessary prerequisite for a stock to achieve meme status.According to Bloomberg, Fidelity logged 55,000 buy orders for shares of the SPAC on Thursday.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":851616723,"gmtCreate":1634902386836,"gmtModify":1634902477858,"author":{"id":"3575091428590185","authorId":"3575091428590185","name":"HENRYCSC","avatar":"https://static.tigerbbs.com/6d47a6dec25b21dc547a5b982674c499","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3575091428590185","authorIdStr":"3575091428590185"},"htmlText":"Ok&nbsp;","listText":"Ok&nbsp;","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/851616723","repostId":1101284007,"repostType":4,"repost":{"id":"1101284007","kind":"news","pubTimestamp":1634884490,"share":"https://www.laohu8.com/m/news/1101284007?lang=&edition=full","pubTime":"2021-10-22 14:34","market":"us","language":"en","title":"Trying to make sense of Donald Trump's SPAC? We break it down for you.","url":"https://stock-news.laohu8.com/highlight/detail?id=1101284007","media":"Business Insider","summary":"Former president Donald Trump is taking his social media company public via SPAC merger.\nShares of t","content":"<ul>\n <li>Former president Donald Trump is taking his social media company public via SPAC merger.</li>\n <li>Shares of the SPAC, Digital World Acquisition Company, more than quadrupled in price on the news.</li>\n <li>Here we answer your burning questions on what's going on with this deal.</li>\n</ul>\nThe SPAC craze is back, riding high on the former president's social media ambitions.\nDonald Trump's soon-to-be-launched social media site, Truth Social, announced Thursday its plans to go public through a special purpose acquisition company, aka a SPAC, called Digital World Acquisition Company. The stock ticker \"DWAC\" trended on Twitter following the announcement.\nAs the news goes viral, here are the answers to burning questions about the art of Trump's latest deal.\nSo what is a SPAC, again?\nSPACs were a nearly dormant financial tool for taking companies public until right around the start of the COVID-19 pandemic, at which point the market became a feeding frenzy for investors, speculators, and retail traders looking to cash in on private companies with big potential for growth.\nA SPAC is just&nbsp;a small public company&nbsp;with a whole lot of cash that has one simple goal: to take a private company public. They are also known as \"blank-check\" companies and the process for a company to go public via SPAC can be easier than the traditional IPO route.\nTo form a SPAC, a few people, often former bankers or corporate executives and sometimes celebrities, get together in the hopes of finding a worthwhile private company. First, the SPAC goes public, issuing shares and raising money from investors. SPAC shares are usually sold at $10 apiece - just like in the case of Trump Media's Digital World Acquisition Corp. SPAC, which raised about $283 million in its IPO, according to a filing with regulators.\nThat war chest of cash will eventually be used to strike a deal with a target company. Digital World Acquisition found Trump Media &amp; Technology Group.\nDWAC stock is up how much?\n357% at Thursday's close! Intraday, it was up even more, gaining more than 400% before pulling back.\nWe've seen&nbsp;SPAC stocks go wild&nbsp;after announcing the target company - but not this wild. SPAC stocks normally jump after the deal is announced, even though the target company isn't public yet (shareholders still need to give the thumbs up).\nThe stock closed Thursday at $45.50, up from $9.96 the previous day. It was the most-traded stock on the market Thursday, with over 470 million shares changing hands.\nWho's behind this SPAC?\nPatrick Orlando is the SPAC's CEO. He's a former investment banker and has a hefty background in the SPAC business (he's been part of three before this one). The company's chief financial officer is Luis Orleans-Braganza, who currently serves on Brazil's National Congress.\nIf you haven't heard of either of them, you may have heard of some of the high flying hedge funds that have invested in the SPAC, like Highbridge Capital Management, Lighthouse Partners, K2 Principal Fund, and Saba Capital Management. They all likely&nbsp;made a killing on&nbsp;Thursday's wild price action.\nSo what's going on here?\nBasically, Orlando incorporated Digital World Acquisition in Miami about a month after Trump lost the election, with the goal of merging with a \"leading emerging growth technology company.\"\nThen today, his SPAC announced it would be taking Trump Media &amp; Technology Group public, on the condition of shareholder approval.\nBut unlike in other SPAC mergers where the target company discloses its financial statements or future revenue potential, the Trump Media &amp; Technology Group doesn't have much in the way of financial projections - even though it got a $1.7 billion valuation in the merger.\nThe goal of the future company is to \"create a rival to the liberal media consortium and fight back against the 'Big Tech' companies of Silicon Valley, which have used their unilateral power to silence opposing voices in America.\" The first step is launching a new site called Truth Social.\nWhat is Truth Social?\nThat remains to be seen. The future social media site hasn't actually launched yet, but it has a&nbsp;waitlist. The statement said the eventual site aims to \"stand up to the tyranny of Big Tech.\nTrump has been wanting to get back on social media since being banned from Twitter and Facebook following the January 6 insurrection - and it hasn't been easy. At first, he tried sending tweets from&nbsp;other people's accounts. Then he&nbsp;launched a blog&nbsp;called \"From the Desk of Donald J. Trump\" that flopped.\n\"We live in a world where the Taliban has a huge presence on Twitter, yet your favorite American President has been silenced. This is unacceptable,\" he said. \"I am excited to send out my first TRUTH on TRUTH Social very soon. TMTG was founded with a mission to give a voice to all.\"\nA beta version of the site could launch as soon as November 2021.\nIs this thing for real?\nEven so, Trump's company going public is all dependent on shareholder approval. According to Julian Klymochko who&nbsp;runs a SPAC-focused exchange-traded fund, he's never seen a SPAC deal get voted down. Shareholders are incentivized to approve it because of assets called warrants that they receive at the beginning of the SPAC. No deal, and those warrants are worthless.\nIs this the next meme stock?\nIf price action is any indication, it might already be a meme. On top of that, retail traders are piling on, a necessary prerequisite for a stock to achieve meme status.According to Bloomberg, Fidelity logged 55,000 buy orders for shares of the SPAC on Thursday.","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Trying to make sense of Donald Trump's SPAC? We break it down for you.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTrying to make sense of Donald Trump's SPAC? We break it down for you.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-10-22 14:34 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://markets.businessinsider.com/news/stocks/donald-trump-spac-digital-world-acquisition-truth-social-explained-2021-10>Business Insider</a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\nFormer president Donald Trump is taking his social media company public via SPAC merger.\nShares of the SPAC, Digital World Acquisition Company, more than quadrupled in price on the news.\nHere we ...\n\n<a href=\"https://markets.businessinsider.com/news/stocks/donald-trump-spac-digital-world-acquisition-truth-social-explained-2021-10\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://markets.businessinsider.com/news/stocks/donald-trump-spac-digital-world-acquisition-truth-social-explained-2021-10","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1101284007","content_text":"Former president Donald Trump is taking his social media company public via SPAC merger.\nShares of the SPAC, Digital World Acquisition Company, more than quadrupled in price on the news.\nHere we answer your burning questions on what's going on with this deal.\n\nThe SPAC craze is back, riding high on the former president's social media ambitions.\nDonald Trump's soon-to-be-launched social media site, Truth Social, announced Thursday its plans to go public through a special purpose acquisition company, aka a SPAC, called Digital World Acquisition Company. The stock ticker \"DWAC\" trended on Twitter following the announcement.\nAs the news goes viral, here are the answers to burning questions about the art of Trump's latest deal.\nSo what is a SPAC, again?\nSPACs were a nearly dormant financial tool for taking companies public until right around the start of the COVID-19 pandemic, at which point the market became a feeding frenzy for investors, speculators, and retail traders looking to cash in on private companies with big potential for growth.\nA SPAC is just a small public company with a whole lot of cash that has one simple goal: to take a private company public. They are also known as \"blank-check\" companies and the process for a company to go public via SPAC can be easier than the traditional IPO route.\nTo form a SPAC, a few people, often former bankers or corporate executives and sometimes celebrities, get together in the hopes of finding a worthwhile private company. First, the SPAC goes public, issuing shares and raising money from investors. SPAC shares are usually sold at $10 apiece - just like in the case of Trump Media's Digital World Acquisition Corp. SPAC, which raised about $283 million in its IPO, according to a filing with regulators.\nThat war chest of cash will eventually be used to strike a deal with a target company. Digital World Acquisition found Trump Media & Technology Group.\nDWAC stock is up how much?\n357% at Thursday's close! Intraday, it was up even more, gaining more than 400% before pulling back.\nWe've seen SPAC stocks go wild after announcing the target company - but not this wild. SPAC stocks normally jump after the deal is announced, even though the target company isn't public yet (shareholders still need to give the thumbs up).\nThe stock closed Thursday at $45.50, up from $9.96 the previous day. It was the most-traded stock on the market Thursday, with over 470 million shares changing hands.\nWho's behind this SPAC?\nPatrick Orlando is the SPAC's CEO. He's a former investment banker and has a hefty background in the SPAC business (he's been part of three before this one). The company's chief financial officer is Luis Orleans-Braganza, who currently serves on Brazil's National Congress.\nIf you haven't heard of either of them, you may have heard of some of the high flying hedge funds that have invested in the SPAC, like Highbridge Capital Management, Lighthouse Partners, K2 Principal Fund, and Saba Capital Management. They all likely made a killing on Thursday's wild price action.\nSo what's going on here?\nBasically, Orlando incorporated Digital World Acquisition in Miami about a month after Trump lost the election, with the goal of merging with a \"leading emerging growth technology company.\"\nThen today, his SPAC announced it would be taking Trump Media & Technology Group public, on the condition of shareholder approval.\nBut unlike in other SPAC mergers where the target company discloses its financial statements or future revenue potential, the Trump Media & Technology Group doesn't have much in the way of financial projections - even though it got a $1.7 billion valuation in the merger.\nThe goal of the future company is to \"create a rival to the liberal media consortium and fight back against the 'Big Tech' companies of Silicon Valley, which have used their unilateral power to silence opposing voices in America.\" The first step is launching a new site called Truth Social.\nWhat is Truth Social?\nThat remains to be seen. The future social media site hasn't actually launched yet, but it has a waitlist. The statement said the eventual site aims to \"stand up to the tyranny of Big Tech.\nTrump has been wanting to get back on social media since being banned from Twitter and Facebook following the January 6 insurrection - and it hasn't been easy. At first, he tried sending tweets from other people's accounts. Then he launched a blog called \"From the Desk of Donald J. Trump\" that flopped.\n\"We live in a world where the Taliban has a huge presence on Twitter, yet your favorite American President has been silenced. This is unacceptable,\" he said. \"I am excited to send out my first TRUTH on TRUTH Social very soon. TMTG was founded with a mission to give a voice to all.\"\nA beta version of the site could launch as soon as November 2021.\nIs this thing for real?\nEven so, Trump's company going public is all dependent on shareholder approval. According to Julian Klymochko who runs a SPAC-focused exchange-traded fund, he's never seen a SPAC deal get voted down. Shareholders are incentivized to approve it because of assets called warrants that they receive at the beginning of the SPAC. No deal, and those warrants are worthless.\nIs this the next meme stock?\nIf price action is any indication, it might already be a meme. On top of that, retail traders are piling on, a necessary prerequisite for a stock to achieve meme status.According to Bloomberg, Fidelity logged 55,000 buy orders for shares of the SPAC on Thursday.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":851610859,"gmtCreate":1634901853261,"gmtModify":1634902031329,"author":{"id":"3578468158955348","authorId":"3578468158955348","name":"Kel9670ong","avatar":"https://static.tigerbbs.com/bd86c42e207fbd94e7f8877a29457d71","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3578468158955348","authorIdStr":"3578468158955348"},"htmlText":"Any substantial value in the company ?","listText":"Any substantial value in the company ?","text":"Any substantial value in the company ?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/851610859","repostId":1101284007,"repostType":4,"repost":{"id":"1101284007","kind":"news","pubTimestamp":1634884490,"share":"https://www.laohu8.com/m/news/1101284007?lang=&edition=full","pubTime":"2021-10-22 14:34","market":"us","language":"en","title":"Trying to make sense of Donald Trump's SPAC? We break it down for you.","url":"https://stock-news.laohu8.com/highlight/detail?id=1101284007","media":"Business Insider","summary":"Former president Donald Trump is taking his social media company public via SPAC merger.\nShares of t","content":"<ul>\n <li>Former president Donald Trump is taking his social media company public via SPAC merger.</li>\n <li>Shares of the SPAC, Digital World Acquisition Company, more than quadrupled in price on the news.</li>\n <li>Here we answer your burning questions on what's going on with this deal.</li>\n</ul>\nThe SPAC craze is back, riding high on the former president's social media ambitions.\nDonald Trump's soon-to-be-launched social media site, Truth Social, announced Thursday its plans to go public through a special purpose acquisition company, aka a SPAC, called Digital World Acquisition Company. The stock ticker \"DWAC\" trended on Twitter following the announcement.\nAs the news goes viral, here are the answers to burning questions about the art of Trump's latest deal.\nSo what is a SPAC, again?\nSPACs were a nearly dormant financial tool for taking companies public until right around the start of the COVID-19 pandemic, at which point the market became a feeding frenzy for investors, speculators, and retail traders looking to cash in on private companies with big potential for growth.\nA SPAC is just&nbsp;a small public company&nbsp;with a whole lot of cash that has one simple goal: to take a private company public. They are also known as \"blank-check\" companies and the process for a company to go public via SPAC can be easier than the traditional IPO route.\nTo form a SPAC, a few people, often former bankers or corporate executives and sometimes celebrities, get together in the hopes of finding a worthwhile private company. First, the SPAC goes public, issuing shares and raising money from investors. SPAC shares are usually sold at $10 apiece - just like in the case of Trump Media's Digital World Acquisition Corp. SPAC, which raised about $283 million in its IPO, according to a filing with regulators.\nThat war chest of cash will eventually be used to strike a deal with a target company. Digital World Acquisition found Trump Media &amp; Technology Group.\nDWAC stock is up how much?\n357% at Thursday's close! Intraday, it was up even more, gaining more than 400% before pulling back.\nWe've seen&nbsp;SPAC stocks go wild&nbsp;after announcing the target company - but not this wild. SPAC stocks normally jump after the deal is announced, even though the target company isn't public yet (shareholders still need to give the thumbs up).\nThe stock closed Thursday at $45.50, up from $9.96 the previous day. It was the most-traded stock on the market Thursday, with over 470 million shares changing hands.\nWho's behind this SPAC?\nPatrick Orlando is the SPAC's CEO. He's a former investment banker and has a hefty background in the SPAC business (he's been part of three before this one). The company's chief financial officer is Luis Orleans-Braganza, who currently serves on Brazil's National Congress.\nIf you haven't heard of either of them, you may have heard of some of the high flying hedge funds that have invested in the SPAC, like Highbridge Capital Management, Lighthouse Partners, K2 Principal Fund, and Saba Capital Management. They all likely&nbsp;made a killing on&nbsp;Thursday's wild price action.\nSo what's going on here?\nBasically, Orlando incorporated Digital World Acquisition in Miami about a month after Trump lost the election, with the goal of merging with a \"leading emerging growth technology company.\"\nThen today, his SPAC announced it would be taking Trump Media &amp; Technology Group public, on the condition of shareholder approval.\nBut unlike in other SPAC mergers where the target company discloses its financial statements or future revenue potential, the Trump Media &amp; Technology Group doesn't have much in the way of financial projections - even though it got a $1.7 billion valuation in the merger.\nThe goal of the future company is to \"create a rival to the liberal media consortium and fight back against the 'Big Tech' companies of Silicon Valley, which have used their unilateral power to silence opposing voices in America.\" The first step is launching a new site called Truth Social.\nWhat is Truth Social?\nThat remains to be seen. The future social media site hasn't actually launched yet, but it has a&nbsp;waitlist. The statement said the eventual site aims to \"stand up to the tyranny of Big Tech.\nTrump has been wanting to get back on social media since being banned from Twitter and Facebook following the January 6 insurrection - and it hasn't been easy. At first, he tried sending tweets from&nbsp;other people's accounts. Then he&nbsp;launched a blog&nbsp;called \"From the Desk of Donald J. Trump\" that flopped.\n\"We live in a world where the Taliban has a huge presence on Twitter, yet your favorite American President has been silenced. This is unacceptable,\" he said. \"I am excited to send out my first TRUTH on TRUTH Social very soon. TMTG was founded with a mission to give a voice to all.\"\nA beta version of the site could launch as soon as November 2021.\nIs this thing for real?\nEven so, Trump's company going public is all dependent on shareholder approval. According to Julian Klymochko who&nbsp;runs a SPAC-focused exchange-traded fund, he's never seen a SPAC deal get voted down. Shareholders are incentivized to approve it because of assets called warrants that they receive at the beginning of the SPAC. No deal, and those warrants are worthless.\nIs this the next meme stock?\nIf price action is any indication, it might already be a meme. On top of that, retail traders are piling on, a necessary prerequisite for a stock to achieve meme status.According to Bloomberg, Fidelity logged 55,000 buy orders for shares of the SPAC on Thursday.","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Trying to make sense of Donald Trump's SPAC? We break it down for you.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTrying to make sense of Donald Trump's SPAC? We break it down for you.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-10-22 14:34 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://markets.businessinsider.com/news/stocks/donald-trump-spac-digital-world-acquisition-truth-social-explained-2021-10>Business Insider</a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\nFormer president Donald Trump is taking his social media company public via SPAC merger.\nShares of the SPAC, Digital World Acquisition Company, more than quadrupled in price on the news.\nHere we ...\n\n<a href=\"https://markets.businessinsider.com/news/stocks/donald-trump-spac-digital-world-acquisition-truth-social-explained-2021-10\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://markets.businessinsider.com/news/stocks/donald-trump-spac-digital-world-acquisition-truth-social-explained-2021-10","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1101284007","content_text":"Former president Donald Trump is taking his social media company public via SPAC merger.\nShares of the SPAC, Digital World Acquisition Company, more than quadrupled in price on the news.\nHere we answer your burning questions on what's going on with this deal.\n\nThe SPAC craze is back, riding high on the former president's social media ambitions.\nDonald Trump's soon-to-be-launched social media site, Truth Social, announced Thursday its plans to go public through a special purpose acquisition company, aka a SPAC, called Digital World Acquisition Company. The stock ticker \"DWAC\" trended on Twitter following the announcement.\nAs the news goes viral, here are the answers to burning questions about the art of Trump's latest deal.\nSo what is a SPAC, again?\nSPACs were a nearly dormant financial tool for taking companies public until right around the start of the COVID-19 pandemic, at which point the market became a feeding frenzy for investors, speculators, and retail traders looking to cash in on private companies with big potential for growth.\nA SPAC is just a small public company with a whole lot of cash that has one simple goal: to take a private company public. They are also known as \"blank-check\" companies and the process for a company to go public via SPAC can be easier than the traditional IPO route.\nTo form a SPAC, a few people, often former bankers or corporate executives and sometimes celebrities, get together in the hopes of finding a worthwhile private company. First, the SPAC goes public, issuing shares and raising money from investors. SPAC shares are usually sold at $10 apiece - just like in the case of Trump Media's Digital World Acquisition Corp. SPAC, which raised about $283 million in its IPO, according to a filing with regulators.\nThat war chest of cash will eventually be used to strike a deal with a target company. Digital World Acquisition found Trump Media & Technology Group.\nDWAC stock is up how much?\n357% at Thursday's close! Intraday, it was up even more, gaining more than 400% before pulling back.\nWe've seen SPAC stocks go wild after announcing the target company - but not this wild. SPAC stocks normally jump after the deal is announced, even though the target company isn't public yet (shareholders still need to give the thumbs up).\nThe stock closed Thursday at $45.50, up from $9.96 the previous day. It was the most-traded stock on the market Thursday, with over 470 million shares changing hands.\nWho's behind this SPAC?\nPatrick Orlando is the SPAC's CEO. He's a former investment banker and has a hefty background in the SPAC business (he's been part of three before this one). The company's chief financial officer is Luis Orleans-Braganza, who currently serves on Brazil's National Congress.\nIf you haven't heard of either of them, you may have heard of some of the high flying hedge funds that have invested in the SPAC, like Highbridge Capital Management, Lighthouse Partners, K2 Principal Fund, and Saba Capital Management. They all likely made a killing on Thursday's wild price action.\nSo what's going on here?\nBasically, Orlando incorporated Digital World Acquisition in Miami about a month after Trump lost the election, with the goal of merging with a \"leading emerging growth technology company.\"\nThen today, his SPAC announced it would be taking Trump Media & Technology Group public, on the condition of shareholder approval.\nBut unlike in other SPAC mergers where the target company discloses its financial statements or future revenue potential, the Trump Media & Technology Group doesn't have much in the way of financial projections - even though it got a $1.7 billion valuation in the merger.\nThe goal of the future company is to \"create a rival to the liberal media consortium and fight back against the 'Big Tech' companies of Silicon Valley, which have used their unilateral power to silence opposing voices in America.\" The first step is launching a new site called Truth Social.\nWhat is Truth Social?\nThat remains to be seen. The future social media site hasn't actually launched yet, but it has a waitlist. The statement said the eventual site aims to \"stand up to the tyranny of Big Tech.\nTrump has been wanting to get back on social media since being banned from Twitter and Facebook following the January 6 insurrection - and it hasn't been easy. At first, he tried sending tweets from other people's accounts. Then he launched a blog called \"From the Desk of Donald J. Trump\" that flopped.\n\"We live in a world where the Taliban has a huge presence on Twitter, yet your favorite American President has been silenced. This is unacceptable,\" he said. \"I am excited to send out my first TRUTH on TRUTH Social very soon. TMTG was founded with a mission to give a voice to all.\"\nA beta version of the site could launch as soon as November 2021.\nIs this thing for real?\nEven so, Trump's company going public is all dependent on shareholder approval. According to Julian Klymochko who runs a SPAC-focused exchange-traded fund, he's never seen a SPAC deal get voted down. Shareholders are incentivized to approve it because of assets called warrants that they receive at the beginning of the SPAC. No deal, and those warrants are worthless.\nIs this the next meme stock?\nIf price action is any indication, it might already be a meme. On top of that, retail traders are piling on, a necessary prerequisite for a stock to achieve meme status.According to Bloomberg, Fidelity logged 55,000 buy orders for shares of the SPAC on Thursday.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":851634243,"gmtCreate":1634901618234,"gmtModify":1634902487419,"author":{"id":"3586937342194873","authorId":"3586937342194873","name":"gsr45","avatar":"https://static.tigerbbs.com/5737c351325217c4f4672346f37ad81e","vip":1,"crmLevel":6,"crmLevelSwitch":0,"idStr":"3586937342194873","authorIdStr":"3586937342194873"},"htmlText":"lol junk spacs fly.. Welcome to America.. watch $phun and $crtd to follow suit&nbsp;","listText":"lol junk spacs fly.. Welcome to America.. watch $phun and $crtd to follow suit&nbsp;","text":"lol junk spacs fly.. Welcome to America.. watch $phun and $crtd to follow suit","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/851634243","repostId":1101284007,"repostType":4,"repost":{"id":"1101284007","kind":"news","pubTimestamp":1634884490,"share":"https://www.laohu8.com/m/news/1101284007?lang=&edition=full","pubTime":"2021-10-22 14:34","market":"us","language":"en","title":"Trying to make sense of Donald Trump's SPAC? We break it down for you.","url":"https://stock-news.laohu8.com/highlight/detail?id=1101284007","media":"Business Insider","summary":"Former president Donald Trump is taking his social media company public via SPAC merger.\nShares of t","content":"<ul>\n <li>Former president Donald Trump is taking his social media company public via SPAC merger.</li>\n <li>Shares of the SPAC, Digital World Acquisition Company, more than quadrupled in price on the news.</li>\n <li>Here we answer your burning questions on what's going on with this deal.</li>\n</ul>\nThe SPAC craze is back, riding high on the former president's social media ambitions.\nDonald Trump's soon-to-be-launched social media site, Truth Social, announced Thursday its plans to go public through a special purpose acquisition company, aka a SPAC, called Digital World Acquisition Company. The stock ticker \"DWAC\" trended on Twitter following the announcement.\nAs the news goes viral, here are the answers to burning questions about the art of Trump's latest deal.\nSo what is a SPAC, again?\nSPACs were a nearly dormant financial tool for taking companies public until right around the start of the COVID-19 pandemic, at which point the market became a feeding frenzy for investors, speculators, and retail traders looking to cash in on private companies with big potential for growth.\nA SPAC is just&nbsp;a small public company&nbsp;with a whole lot of cash that has one simple goal: to take a private company public. They are also known as \"blank-check\" companies and the process for a company to go public via SPAC can be easier than the traditional IPO route.\nTo form a SPAC, a few people, often former bankers or corporate executives and sometimes celebrities, get together in the hopes of finding a worthwhile private company. First, the SPAC goes public, issuing shares and raising money from investors. SPAC shares are usually sold at $10 apiece - just like in the case of Trump Media's Digital World Acquisition Corp. SPAC, which raised about $283 million in its IPO, according to a filing with regulators.\nThat war chest of cash will eventually be used to strike a deal with a target company. Digital World Acquisition found Trump Media &amp; Technology Group.\nDWAC stock is up how much?\n357% at Thursday's close! Intraday, it was up even more, gaining more than 400% before pulling back.\nWe've seen&nbsp;SPAC stocks go wild&nbsp;after announcing the target company - but not this wild. SPAC stocks normally jump after the deal is announced, even though the target company isn't public yet (shareholders still need to give the thumbs up).\nThe stock closed Thursday at $45.50, up from $9.96 the previous day. It was the most-traded stock on the market Thursday, with over 470 million shares changing hands.\nWho's behind this SPAC?\nPatrick Orlando is the SPAC's CEO. He's a former investment banker and has a hefty background in the SPAC business (he's been part of three before this one). The company's chief financial officer is Luis Orleans-Braganza, who currently serves on Brazil's National Congress.\nIf you haven't heard of either of them, you may have heard of some of the high flying hedge funds that have invested in the SPAC, like Highbridge Capital Management, Lighthouse Partners, K2 Principal Fund, and Saba Capital Management. They all likely&nbsp;made a killing on&nbsp;Thursday's wild price action.\nSo what's going on here?\nBasically, Orlando incorporated Digital World Acquisition in Miami about a month after Trump lost the election, with the goal of merging with a \"leading emerging growth technology company.\"\nThen today, his SPAC announced it would be taking Trump Media &amp; Technology Group public, on the condition of shareholder approval.\nBut unlike in other SPAC mergers where the target company discloses its financial statements or future revenue potential, the Trump Media &amp; Technology Group doesn't have much in the way of financial projections - even though it got a $1.7 billion valuation in the merger.\nThe goal of the future company is to \"create a rival to the liberal media consortium and fight back against the 'Big Tech' companies of Silicon Valley, which have used their unilateral power to silence opposing voices in America.\" The first step is launching a new site called Truth Social.\nWhat is Truth Social?\nThat remains to be seen. The future social media site hasn't actually launched yet, but it has a&nbsp;waitlist. The statement said the eventual site aims to \"stand up to the tyranny of Big Tech.\nTrump has been wanting to get back on social media since being banned from Twitter and Facebook following the January 6 insurrection - and it hasn't been easy. At first, he tried sending tweets from&nbsp;other people's accounts. Then he&nbsp;launched a blog&nbsp;called \"From the Desk of Donald J. Trump\" that flopped.\n\"We live in a world where the Taliban has a huge presence on Twitter, yet your favorite American President has been silenced. This is unacceptable,\" he said. \"I am excited to send out my first TRUTH on TRUTH Social very soon. TMTG was founded with a mission to give a voice to all.\"\nA beta version of the site could launch as soon as November 2021.\nIs this thing for real?\nEven so, Trump's company going public is all dependent on shareholder approval. According to Julian Klymochko who&nbsp;runs a SPAC-focused exchange-traded fund, he's never seen a SPAC deal get voted down. Shareholders are incentivized to approve it because of assets called warrants that they receive at the beginning of the SPAC. No deal, and those warrants are worthless.\nIs this the next meme stock?\nIf price action is any indication, it might already be a meme. On top of that, retail traders are piling on, a necessary prerequisite for a stock to achieve meme status.According to Bloomberg, Fidelity logged 55,000 buy orders for shares of the SPAC on Thursday.","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Trying to make sense of Donald Trump's SPAC? We break it down for you.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTrying to make sense of Donald Trump's SPAC? We break it down for you.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-10-22 14:34 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://markets.businessinsider.com/news/stocks/donald-trump-spac-digital-world-acquisition-truth-social-explained-2021-10>Business Insider</a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\nFormer president Donald Trump is taking his social media company public via SPAC merger.\nShares of the SPAC, Digital World Acquisition Company, more than quadrupled in price on the news.\nHere we ...\n\n<a href=\"https://markets.businessinsider.com/news/stocks/donald-trump-spac-digital-world-acquisition-truth-social-explained-2021-10\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://markets.businessinsider.com/news/stocks/donald-trump-spac-digital-world-acquisition-truth-social-explained-2021-10","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1101284007","content_text":"Former president Donald Trump is taking his social media company public via SPAC merger.\nShares of the SPAC, Digital World Acquisition Company, more than quadrupled in price on the news.\nHere we answer your burning questions on what's going on with this deal.\n\nThe SPAC craze is back, riding high on the former president's social media ambitions.\nDonald Trump's soon-to-be-launched social media site, Truth Social, announced Thursday its plans to go public through a special purpose acquisition company, aka a SPAC, called Digital World Acquisition Company. The stock ticker \"DWAC\" trended on Twitter following the announcement.\nAs the news goes viral, here are the answers to burning questions about the art of Trump's latest deal.\nSo what is a SPAC, again?\nSPACs were a nearly dormant financial tool for taking companies public until right around the start of the COVID-19 pandemic, at which point the market became a feeding frenzy for investors, speculators, and retail traders looking to cash in on private companies with big potential for growth.\nA SPAC is just a small public company with a whole lot of cash that has one simple goal: to take a private company public. They are also known as \"blank-check\" companies and the process for a company to go public via SPAC can be easier than the traditional IPO route.\nTo form a SPAC, a few people, often former bankers or corporate executives and sometimes celebrities, get together in the hopes of finding a worthwhile private company. First, the SPAC goes public, issuing shares and raising money from investors. SPAC shares are usually sold at $10 apiece - just like in the case of Trump Media's Digital World Acquisition Corp. SPAC, which raised about $283 million in its IPO, according to a filing with regulators.\nThat war chest of cash will eventually be used to strike a deal with a target company. Digital World Acquisition found Trump Media & Technology Group.\nDWAC stock is up how much?\n357% at Thursday's close! Intraday, it was up even more, gaining more than 400% before pulling back.\nWe've seen SPAC stocks go wild after announcing the target company - but not this wild. SPAC stocks normally jump after the deal is announced, even though the target company isn't public yet (shareholders still need to give the thumbs up).\nThe stock closed Thursday at $45.50, up from $9.96 the previous day. It was the most-traded stock on the market Thursday, with over 470 million shares changing hands.\nWho's behind this SPAC?\nPatrick Orlando is the SPAC's CEO. He's a former investment banker and has a hefty background in the SPAC business (he's been part of three before this one). The company's chief financial officer is Luis Orleans-Braganza, who currently serves on Brazil's National Congress.\nIf you haven't heard of either of them, you may have heard of some of the high flying hedge funds that have invested in the SPAC, like Highbridge Capital Management, Lighthouse Partners, K2 Principal Fund, and Saba Capital Management. They all likely made a killing on Thursday's wild price action.\nSo what's going on here?\nBasically, Orlando incorporated Digital World Acquisition in Miami about a month after Trump lost the election, with the goal of merging with a \"leading emerging growth technology company.\"\nThen today, his SPAC announced it would be taking Trump Media & Technology Group public, on the condition of shareholder approval.\nBut unlike in other SPAC mergers where the target company discloses its financial statements or future revenue potential, the Trump Media & Technology Group doesn't have much in the way of financial projections - even though it got a $1.7 billion valuation in the merger.\nThe goal of the future company is to \"create a rival to the liberal media consortium and fight back against the 'Big Tech' companies of Silicon Valley, which have used their unilateral power to silence opposing voices in America.\" The first step is launching a new site called Truth Social.\nWhat is Truth Social?\nThat remains to be seen. The future social media site hasn't actually launched yet, but it has a waitlist. The statement said the eventual site aims to \"stand up to the tyranny of Big Tech.\nTrump has been wanting to get back on social media since being banned from Twitter and Facebook following the January 6 insurrection - and it hasn't been easy. At first, he tried sending tweets from other people's accounts. Then he launched a blog called \"From the Desk of Donald J. Trump\" that flopped.\n\"We live in a world where the Taliban has a huge presence on Twitter, yet your favorite American President has been silenced. This is unacceptable,\" he said. \"I am excited to send out my first TRUTH on TRUTH Social very soon. TMTG was founded with a mission to give a voice to all.\"\nA beta version of the site could launch as soon as November 2021.\nIs this thing for real?\nEven so, Trump's company going public is all dependent on shareholder approval. According to Julian Klymochko who runs a SPAC-focused exchange-traded fund, he's never seen a SPAC deal get voted down. Shareholders are incentivized to approve it because of assets called warrants that they receive at the beginning of the SPAC. No deal, and those warrants are worthless.\nIs this the next meme stock?\nIf price action is any indication, it might already be a meme. On top of that, retail traders are piling on, a necessary prerequisite for a stock to achieve meme status.According to Bloomberg, Fidelity logged 55,000 buy orders for shares of the SPAC on Thursday.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":851635334,"gmtCreate":1634901486918,"gmtModify":1634901815402,"author":{"id":"3586937342194873","authorId":"3586937342194873","name":"gsr45","avatar":"https://static.tigerbbs.com/5737c351325217c4f4672346f37ad81e","vip":1,"crmLevel":6,"crmLevelSwitch":0,"idStr":"3586937342194873","authorIdStr":"3586937342194873"},"htmlText":"Great ariticle, would you like to share it?","listText":"Great ariticle, would you like to share it?","text":"Great ariticle, would you like to share it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/851635334","repostId":1101284007,"repostType":4,"repost":{"id":"1101284007","kind":"news","pubTimestamp":1634884490,"share":"https://www.laohu8.com/m/news/1101284007?lang=&edition=full","pubTime":"2021-10-22 14:34","market":"us","language":"en","title":"Trying to make sense of Donald Trump's SPAC? We break it down for you.","url":"https://stock-news.laohu8.com/highlight/detail?id=1101284007","media":"Business Insider","summary":"Former president Donald Trump is taking his social media company public via SPAC merger.\nShares of t","content":"<ul>\n <li>Former president Donald Trump is taking his social media company public via SPAC merger.</li>\n <li>Shares of the SPAC, Digital World Acquisition Company, more than quadrupled in price on the news.</li>\n <li>Here we answer your burning questions on what's going on with this deal.</li>\n</ul>\nThe SPAC craze is back, riding high on the former president's social media ambitions.\nDonald Trump's soon-to-be-launched social media site, Truth Social, announced Thursday its plans to go public through a special purpose acquisition company, aka a SPAC, called Digital World Acquisition Company. The stock ticker \"DWAC\" trended on Twitter following the announcement.\nAs the news goes viral, here are the answers to burning questions about the art of Trump's latest deal.\nSo what is a SPAC, again?\nSPACs were a nearly dormant financial tool for taking companies public until right around the start of the COVID-19 pandemic, at which point the market became a feeding frenzy for investors, speculators, and retail traders looking to cash in on private companies with big potential for growth.\nA SPAC is just&nbsp;a small public company&nbsp;with a whole lot of cash that has one simple goal: to take a private company public. They are also known as \"blank-check\" companies and the process for a company to go public via SPAC can be easier than the traditional IPO route.\nTo form a SPAC, a few people, often former bankers or corporate executives and sometimes celebrities, get together in the hopes of finding a worthwhile private company. First, the SPAC goes public, issuing shares and raising money from investors. SPAC shares are usually sold at $10 apiece - just like in the case of Trump Media's Digital World Acquisition Corp. SPAC, which raised about $283 million in its IPO, according to a filing with regulators.\nThat war chest of cash will eventually be used to strike a deal with a target company. Digital World Acquisition found Trump Media &amp; Technology Group.\nDWAC stock is up how much?\n357% at Thursday's close! Intraday, it was up even more, gaining more than 400% before pulling back.\nWe've seen&nbsp;SPAC stocks go wild&nbsp;after announcing the target company - but not this wild. SPAC stocks normally jump after the deal is announced, even though the target company isn't public yet (shareholders still need to give the thumbs up).\nThe stock closed Thursday at $45.50, up from $9.96 the previous day. It was the most-traded stock on the market Thursday, with over 470 million shares changing hands.\nWho's behind this SPAC?\nPatrick Orlando is the SPAC's CEO. He's a former investment banker and has a hefty background in the SPAC business (he's been part of three before this one). The company's chief financial officer is Luis Orleans-Braganza, who currently serves on Brazil's National Congress.\nIf you haven't heard of either of them, you may have heard of some of the high flying hedge funds that have invested in the SPAC, like Highbridge Capital Management, Lighthouse Partners, K2 Principal Fund, and Saba Capital Management. They all likely&nbsp;made a killing on&nbsp;Thursday's wild price action.\nSo what's going on here?\nBasically, Orlando incorporated Digital World Acquisition in Miami about a month after Trump lost the election, with the goal of merging with a \"leading emerging growth technology company.\"\nThen today, his SPAC announced it would be taking Trump Media &amp; Technology Group public, on the condition of shareholder approval.\nBut unlike in other SPAC mergers where the target company discloses its financial statements or future revenue potential, the Trump Media &amp; Technology Group doesn't have much in the way of financial projections - even though it got a $1.7 billion valuation in the merger.\nThe goal of the future company is to \"create a rival to the liberal media consortium and fight back against the 'Big Tech' companies of Silicon Valley, which have used their unilateral power to silence opposing voices in America.\" The first step is launching a new site called Truth Social.\nWhat is Truth Social?\nThat remains to be seen. The future social media site hasn't actually launched yet, but it has a&nbsp;waitlist. The statement said the eventual site aims to \"stand up to the tyranny of Big Tech.\nTrump has been wanting to get back on social media since being banned from Twitter and Facebook following the January 6 insurrection - and it hasn't been easy. At first, he tried sending tweets from&nbsp;other people's accounts. Then he&nbsp;launched a blog&nbsp;called \"From the Desk of Donald J. Trump\" that flopped.\n\"We live in a world where the Taliban has a huge presence on Twitter, yet your favorite American President has been silenced. This is unacceptable,\" he said. \"I am excited to send out my first TRUTH on TRUTH Social very soon. TMTG was founded with a mission to give a voice to all.\"\nA beta version of the site could launch as soon as November 2021.\nIs this thing for real?\nEven so, Trump's company going public is all dependent on shareholder approval. According to Julian Klymochko who&nbsp;runs a SPAC-focused exchange-traded fund, he's never seen a SPAC deal get voted down. Shareholders are incentivized to approve it because of assets called warrants that they receive at the beginning of the SPAC. No deal, and those warrants are worthless.\nIs this the next meme stock?\nIf price action is any indication, it might already be a meme. On top of that, retail traders are piling on, a necessary prerequisite for a stock to achieve meme status.According to Bloomberg, Fidelity logged 55,000 buy orders for shares of the SPAC on Thursday.","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Trying to make sense of Donald Trump's SPAC? 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We break it down for you.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-10-22 14:34 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://markets.businessinsider.com/news/stocks/donald-trump-spac-digital-world-acquisition-truth-social-explained-2021-10>Business Insider</a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\nFormer president Donald Trump is taking his social media company public via SPAC merger.\nShares of the SPAC, Digital World Acquisition Company, more than quadrupled in price on the news.\nHere we ...\n\n<a href=\"https://markets.businessinsider.com/news/stocks/donald-trump-spac-digital-world-acquisition-truth-social-explained-2021-10\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://markets.businessinsider.com/news/stocks/donald-trump-spac-digital-world-acquisition-truth-social-explained-2021-10","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1101284007","content_text":"Former president Donald Trump is taking his social media company public via SPAC merger.\nShares of the SPAC, Digital World Acquisition Company, more than quadrupled in price on the news.\nHere we answer your burning questions on what's going on with this deal.\n\nThe SPAC craze is back, riding high on the former president's social media ambitions.\nDonald Trump's soon-to-be-launched social media site, Truth Social, announced Thursday its plans to go public through a special purpose acquisition company, aka a SPAC, called Digital World Acquisition Company. The stock ticker \"DWAC\" trended on Twitter following the announcement.\nAs the news goes viral, here are the answers to burning questions about the art of Trump's latest deal.\nSo what is a SPAC, again?\nSPACs were a nearly dormant financial tool for taking companies public until right around the start of the COVID-19 pandemic, at which point the market became a feeding frenzy for investors, speculators, and retail traders looking to cash in on private companies with big potential for growth.\nA SPAC is just a small public company with a whole lot of cash that has one simple goal: to take a private company public. They are also known as \"blank-check\" companies and the process for a company to go public via SPAC can be easier than the traditional IPO route.\nTo form a SPAC, a few people, often former bankers or corporate executives and sometimes celebrities, get together in the hopes of finding a worthwhile private company. First, the SPAC goes public, issuing shares and raising money from investors. SPAC shares are usually sold at $10 apiece - just like in the case of Trump Media's Digital World Acquisition Corp. SPAC, which raised about $283 million in its IPO, according to a filing with regulators.\nThat war chest of cash will eventually be used to strike a deal with a target company. Digital World Acquisition found Trump Media & Technology Group.\nDWAC stock is up how much?\n357% at Thursday's close! Intraday, it was up even more, gaining more than 400% before pulling back.\nWe've seen SPAC stocks go wild after announcing the target company - but not this wild. SPAC stocks normally jump after the deal is announced, even though the target company isn't public yet (shareholders still need to give the thumbs up).\nThe stock closed Thursday at $45.50, up from $9.96 the previous day. It was the most-traded stock on the market Thursday, with over 470 million shares changing hands.\nWho's behind this SPAC?\nPatrick Orlando is the SPAC's CEO. He's a former investment banker and has a hefty background in the SPAC business (he's been part of three before this one). The company's chief financial officer is Luis Orleans-Braganza, who currently serves on Brazil's National Congress.\nIf you haven't heard of either of them, you may have heard of some of the high flying hedge funds that have invested in the SPAC, like Highbridge Capital Management, Lighthouse Partners, K2 Principal Fund, and Saba Capital Management. They all likely made a killing on Thursday's wild price action.\nSo what's going on here?\nBasically, Orlando incorporated Digital World Acquisition in Miami about a month after Trump lost the election, with the goal of merging with a \"leading emerging growth technology company.\"\nThen today, his SPAC announced it would be taking Trump Media & Technology Group public, on the condition of shareholder approval.\nBut unlike in other SPAC mergers where the target company discloses its financial statements or future revenue potential, the Trump Media & Technology Group doesn't have much in the way of financial projections - even though it got a $1.7 billion valuation in the merger.\nThe goal of the future company is to \"create a rival to the liberal media consortium and fight back against the 'Big Tech' companies of Silicon Valley, which have used their unilateral power to silence opposing voices in America.\" The first step is launching a new site called Truth Social.\nWhat is Truth Social?\nThat remains to be seen. The future social media site hasn't actually launched yet, but it has a waitlist. The statement said the eventual site aims to \"stand up to the tyranny of Big Tech.\nTrump has been wanting to get back on social media since being banned from Twitter and Facebook following the January 6 insurrection - and it hasn't been easy. At first, he tried sending tweets from other people's accounts. Then he launched a blog called \"From the Desk of Donald J. Trump\" that flopped.\n\"We live in a world where the Taliban has a huge presence on Twitter, yet your favorite American President has been silenced. This is unacceptable,\" he said. \"I am excited to send out my first TRUTH on TRUTH Social very soon. TMTG was founded with a mission to give a voice to all.\"\nA beta version of the site could launch as soon as November 2021.\nIs this thing for real?\nEven so, Trump's company going public is all dependent on shareholder approval. According to Julian Klymochko who runs a SPAC-focused exchange-traded fund, he's never seen a SPAC deal get voted down. Shareholders are incentivized to approve it because of assets called warrants that they receive at the beginning of the SPAC. No deal, and those warrants are worthless.\nIs this the next meme stock?\nIf price action is any indication, it might already be a meme. On top of that, retail traders are piling on, a necessary prerequisite for a stock to achieve meme status.According to Bloomberg, Fidelity logged 55,000 buy orders for shares of the SPAC on Thursday.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":851631956,"gmtCreate":1634900923821,"gmtModify":1634901895858,"author":{"id":"3574381076586256","authorId":"3574381076586256","name":"KYHBKO","avatar":"https://static.tigerbbs.com/c3bcbc7f9a10836dea92afc94bf39b5b","vip":2,"crmLevel":4,"crmLevelSwitch":0,"idStr":"3574381076586256","authorIdStr":"3574381076586256"},"htmlText":"a social media platform for his 2024 election.there will be trump fans who buy this. there will be non trump fans who will&nbsp;avoid this. more importantly, the company will need to make money and have good fundamentals to ensure a strong demand. it is off to a good start for sure and this should continue for a while.&nbsp;it needs the future earnings to consolidate its position.&nbsp;","listText":"a social media platform for his 2024 election.there will be trump fans who buy this. there will be non trump fans who will&nbsp;avoid this. more importantly, the company will need to make money and have good fundamentals to ensure a strong demand. it is off to a good start for sure and this should continue for a while.&nbsp;it needs the future earnings to consolidate its position.&nbsp;","text":"a social media platform for his 2024 election.there will be trump fans who buy this. there will be non trump fans who will avoid this. more importantly, the company will need to make money and have good fundamentals to ensure a strong demand. it is off to a good start for sure and this should continue for a while. it needs the future earnings to consolidate its position.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/851631956","repostId":1101284007,"repostType":4,"repost":{"id":"1101284007","kind":"news","pubTimestamp":1634884490,"share":"https://www.laohu8.com/m/news/1101284007?lang=&edition=full","pubTime":"2021-10-22 14:34","market":"us","language":"en","title":"Trying to make sense of Donald Trump's SPAC? We break it down for you.","url":"https://stock-news.laohu8.com/highlight/detail?id=1101284007","media":"Business Insider","summary":"Former president Donald Trump is taking his social media company public via SPAC merger.\nShares of t","content":"<ul>\n <li>Former president Donald Trump is taking his social media company public via SPAC merger.</li>\n <li>Shares of the SPAC, Digital World Acquisition Company, more than quadrupled in price on the news.</li>\n <li>Here we answer your burning questions on what's going on with this deal.</li>\n</ul>\nThe SPAC craze is back, riding high on the former president's social media ambitions.\nDonald Trump's soon-to-be-launched social media site, Truth Social, announced Thursday its plans to go public through a special purpose acquisition company, aka a SPAC, called Digital World Acquisition Company. The stock ticker \"DWAC\" trended on Twitter following the announcement.\nAs the news goes viral, here are the answers to burning questions about the art of Trump's latest deal.\nSo what is a SPAC, again?\nSPACs were a nearly dormant financial tool for taking companies public until right around the start of the COVID-19 pandemic, at which point the market became a feeding frenzy for investors, speculators, and retail traders looking to cash in on private companies with big potential for growth.\nA SPAC is just&nbsp;a small public company&nbsp;with a whole lot of cash that has one simple goal: to take a private company public. They are also known as \"blank-check\" companies and the process for a company to go public via SPAC can be easier than the traditional IPO route.\nTo form a SPAC, a few people, often former bankers or corporate executives and sometimes celebrities, get together in the hopes of finding a worthwhile private company. First, the SPAC goes public, issuing shares and raising money from investors. SPAC shares are usually sold at $10 apiece - just like in the case of Trump Media's Digital World Acquisition Corp. SPAC, which raised about $283 million in its IPO, according to a filing with regulators.\nThat war chest of cash will eventually be used to strike a deal with a target company. Digital World Acquisition found Trump Media &amp; Technology Group.\nDWAC stock is up how much?\n357% at Thursday's close! Intraday, it was up even more, gaining more than 400% before pulling back.\nWe've seen&nbsp;SPAC stocks go wild&nbsp;after announcing the target company - but not this wild. SPAC stocks normally jump after the deal is announced, even though the target company isn't public yet (shareholders still need to give the thumbs up).\nThe stock closed Thursday at $45.50, up from $9.96 the previous day. It was the most-traded stock on the market Thursday, with over 470 million shares changing hands.\nWho's behind this SPAC?\nPatrick Orlando is the SPAC's CEO. He's a former investment banker and has a hefty background in the SPAC business (he's been part of three before this one). The company's chief financial officer is Luis Orleans-Braganza, who currently serves on Brazil's National Congress.\nIf you haven't heard of either of them, you may have heard of some of the high flying hedge funds that have invested in the SPAC, like Highbridge Capital Management, Lighthouse Partners, K2 Principal Fund, and Saba Capital Management. They all likely&nbsp;made a killing on&nbsp;Thursday's wild price action.\nSo what's going on here?\nBasically, Orlando incorporated Digital World Acquisition in Miami about a month after Trump lost the election, with the goal of merging with a \"leading emerging growth technology company.\"\nThen today, his SPAC announced it would be taking Trump Media &amp; Technology Group public, on the condition of shareholder approval.\nBut unlike in other SPAC mergers where the target company discloses its financial statements or future revenue potential, the Trump Media &amp; Technology Group doesn't have much in the way of financial projections - even though it got a $1.7 billion valuation in the merger.\nThe goal of the future company is to \"create a rival to the liberal media consortium and fight back against the 'Big Tech' companies of Silicon Valley, which have used their unilateral power to silence opposing voices in America.\" The first step is launching a new site called Truth Social.\nWhat is Truth Social?\nThat remains to be seen. The future social media site hasn't actually launched yet, but it has a&nbsp;waitlist. The statement said the eventual site aims to \"stand up to the tyranny of Big Tech.\nTrump has been wanting to get back on social media since being banned from Twitter and Facebook following the January 6 insurrection - and it hasn't been easy. At first, he tried sending tweets from&nbsp;other people's accounts. Then he&nbsp;launched a blog&nbsp;called \"From the Desk of Donald J. Trump\" that flopped.\n\"We live in a world where the Taliban has a huge presence on Twitter, yet your favorite American President has been silenced. This is unacceptable,\" he said. \"I am excited to send out my first TRUTH on TRUTH Social very soon. TMTG was founded with a mission to give a voice to all.\"\nA beta version of the site could launch as soon as November 2021.\nIs this thing for real?\nEven so, Trump's company going public is all dependent on shareholder approval. According to Julian Klymochko who&nbsp;runs a SPAC-focused exchange-traded fund, he's never seen a SPAC deal get voted down. Shareholders are incentivized to approve it because of assets called warrants that they receive at the beginning of the SPAC. No deal, and those warrants are worthless.\nIs this the next meme stock?\nIf price action is any indication, it might already be a meme. On top of that, retail traders are piling on, a necessary prerequisite for a stock to achieve meme status.According to Bloomberg, Fidelity logged 55,000 buy orders for shares of the SPAC on Thursday.","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Trying to make sense of Donald Trump's SPAC? We break it down for you.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTrying to make sense of Donald Trump's SPAC? We break it down for you.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-10-22 14:34 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://markets.businessinsider.com/news/stocks/donald-trump-spac-digital-world-acquisition-truth-social-explained-2021-10>Business Insider</a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\nFormer president Donald Trump is taking his social media company public via SPAC merger.\nShares of the SPAC, Digital World Acquisition Company, more than quadrupled in price on the news.\nHere we ...\n\n<a href=\"https://markets.businessinsider.com/news/stocks/donald-trump-spac-digital-world-acquisition-truth-social-explained-2021-10\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://markets.businessinsider.com/news/stocks/donald-trump-spac-digital-world-acquisition-truth-social-explained-2021-10","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1101284007","content_text":"Former president Donald Trump is taking his social media company public via SPAC merger.\nShares of the SPAC, Digital World Acquisition Company, more than quadrupled in price on the news.\nHere we answer your burning questions on what's going on with this deal.\n\nThe SPAC craze is back, riding high on the former president's social media ambitions.\nDonald Trump's soon-to-be-launched social media site, Truth Social, announced Thursday its plans to go public through a special purpose acquisition company, aka a SPAC, called Digital World Acquisition Company. The stock ticker \"DWAC\" trended on Twitter following the announcement.\nAs the news goes viral, here are the answers to burning questions about the art of Trump's latest deal.\nSo what is a SPAC, again?\nSPACs were a nearly dormant financial tool for taking companies public until right around the start of the COVID-19 pandemic, at which point the market became a feeding frenzy for investors, speculators, and retail traders looking to cash in on private companies with big potential for growth.\nA SPAC is just a small public company with a whole lot of cash that has one simple goal: to take a private company public. They are also known as \"blank-check\" companies and the process for a company to go public via SPAC can be easier than the traditional IPO route.\nTo form a SPAC, a few people, often former bankers or corporate executives and sometimes celebrities, get together in the hopes of finding a worthwhile private company. First, the SPAC goes public, issuing shares and raising money from investors. SPAC shares are usually sold at $10 apiece - just like in the case of Trump Media's Digital World Acquisition Corp. SPAC, which raised about $283 million in its IPO, according to a filing with regulators.\nThat war chest of cash will eventually be used to strike a deal with a target company. Digital World Acquisition found Trump Media & Technology Group.\nDWAC stock is up how much?\n357% at Thursday's close! Intraday, it was up even more, gaining more than 400% before pulling back.\nWe've seen SPAC stocks go wild after announcing the target company - but not this wild. SPAC stocks normally jump after the deal is announced, even though the target company isn't public yet (shareholders still need to give the thumbs up).\nThe stock closed Thursday at $45.50, up from $9.96 the previous day. It was the most-traded stock on the market Thursday, with over 470 million shares changing hands.\nWho's behind this SPAC?\nPatrick Orlando is the SPAC's CEO. He's a former investment banker and has a hefty background in the SPAC business (he's been part of three before this one). The company's chief financial officer is Luis Orleans-Braganza, who currently serves on Brazil's National Congress.\nIf you haven't heard of either of them, you may have heard of some of the high flying hedge funds that have invested in the SPAC, like Highbridge Capital Management, Lighthouse Partners, K2 Principal Fund, and Saba Capital Management. They all likely made a killing on Thursday's wild price action.\nSo what's going on here?\nBasically, Orlando incorporated Digital World Acquisition in Miami about a month after Trump lost the election, with the goal of merging with a \"leading emerging growth technology company.\"\nThen today, his SPAC announced it would be taking Trump Media & Technology Group public, on the condition of shareholder approval.\nBut unlike in other SPAC mergers where the target company discloses its financial statements or future revenue potential, the Trump Media & Technology Group doesn't have much in the way of financial projections - even though it got a $1.7 billion valuation in the merger.\nThe goal of the future company is to \"create a rival to the liberal media consortium and fight back against the 'Big Tech' companies of Silicon Valley, which have used their unilateral power to silence opposing voices in America.\" The first step is launching a new site called Truth Social.\nWhat is Truth Social?\nThat remains to be seen. The future social media site hasn't actually launched yet, but it has a waitlist. The statement said the eventual site aims to \"stand up to the tyranny of Big Tech.\nTrump has been wanting to get back on social media since being banned from Twitter and Facebook following the January 6 insurrection - and it hasn't been easy. At first, he tried sending tweets from other people's accounts. Then he launched a blog called \"From the Desk of Donald J. Trump\" that flopped.\n\"We live in a world where the Taliban has a huge presence on Twitter, yet your favorite American President has been silenced. This is unacceptable,\" he said. \"I am excited to send out my first TRUTH on TRUTH Social very soon. TMTG was founded with a mission to give a voice to all.\"\nA beta version of the site could launch as soon as November 2021.\nIs this thing for real?\nEven so, Trump's company going public is all dependent on shareholder approval. According to Julian Klymochko who runs a SPAC-focused exchange-traded fund, he's never seen a SPAC deal get voted down. Shareholders are incentivized to approve it because of assets called warrants that they receive at the beginning of the SPAC. No deal, and those warrants are worthless.\nIs this the next meme stock?\nIf price action is any indication, it might already be a meme. On top of that, retail traders are piling on, a necessary prerequisite for a stock to achieve meme status.According to Bloomberg, Fidelity logged 55,000 buy orders for shares of the SPAC on Thursday.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":851633503,"gmtCreate":1634900828570,"gmtModify":1634900828777,"author":{"id":"3572319379588082","authorId":"3572319379588082","name":"Jessemyne","avatar":"https://static.tigerbbs.com/6252e2c2d2486e6000e4f9a349488762","vip":1,"crmLevel":8,"crmLevelSwitch":0,"idStr":"3572319379588082","authorIdStr":"3572319379588082"},"htmlText":"The company name sounds as crazy as him. 🥸","listText":"The company name sounds as crazy as him. 🥸","text":"The company name sounds as crazy as him. 🥸","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/851633503","repostId":1101284007,"repostType":4,"repost":{"id":"1101284007","kind":"news","pubTimestamp":1634884490,"share":"https://www.laohu8.com/m/news/1101284007?lang=&edition=full","pubTime":"2021-10-22 14:34","market":"us","language":"en","title":"Trying to make sense of Donald Trump's SPAC? We break it down for you.","url":"https://stock-news.laohu8.com/highlight/detail?id=1101284007","media":"Business Insider","summary":"Former president Donald Trump is taking his social media company public via SPAC merger.\nShares of t","content":"<ul>\n <li>Former president Donald Trump is taking his social media company public via SPAC merger.</li>\n <li>Shares of the SPAC, Digital World Acquisition Company, more than quadrupled in price on the news.</li>\n <li>Here we answer your burning questions on what's going on with this deal.</li>\n</ul>\nThe SPAC craze is back, riding high on the former president's social media ambitions.\nDonald Trump's soon-to-be-launched social media site, Truth Social, announced Thursday its plans to go public through a special purpose acquisition company, aka a SPAC, called Digital World Acquisition Company. The stock ticker \"DWAC\" trended on Twitter following the announcement.\nAs the news goes viral, here are the answers to burning questions about the art of Trump's latest deal.\nSo what is a SPAC, again?\nSPACs were a nearly dormant financial tool for taking companies public until right around the start of the COVID-19 pandemic, at which point the market became a feeding frenzy for investors, speculators, and retail traders looking to cash in on private companies with big potential for growth.\nA SPAC is just&nbsp;a small public company&nbsp;with a whole lot of cash that has one simple goal: to take a private company public. They are also known as \"blank-check\" companies and the process for a company to go public via SPAC can be easier than the traditional IPO route.\nTo form a SPAC, a few people, often former bankers or corporate executives and sometimes celebrities, get together in the hopes of finding a worthwhile private company. First, the SPAC goes public, issuing shares and raising money from investors. SPAC shares are usually sold at $10 apiece - just like in the case of Trump Media's Digital World Acquisition Corp. SPAC, which raised about $283 million in its IPO, according to a filing with regulators.\nThat war chest of cash will eventually be used to strike a deal with a target company. Digital World Acquisition found Trump Media &amp; Technology Group.\nDWAC stock is up how much?\n357% at Thursday's close! Intraday, it was up even more, gaining more than 400% before pulling back.\nWe've seen&nbsp;SPAC stocks go wild&nbsp;after announcing the target company - but not this wild. SPAC stocks normally jump after the deal is announced, even though the target company isn't public yet (shareholders still need to give the thumbs up).\nThe stock closed Thursday at $45.50, up from $9.96 the previous day. It was the most-traded stock on the market Thursday, with over 470 million shares changing hands.\nWho's behind this SPAC?\nPatrick Orlando is the SPAC's CEO. He's a former investment banker and has a hefty background in the SPAC business (he's been part of three before this one). The company's chief financial officer is Luis Orleans-Braganza, who currently serves on Brazil's National Congress.\nIf you haven't heard of either of them, you may have heard of some of the high flying hedge funds that have invested in the SPAC, like Highbridge Capital Management, Lighthouse Partners, K2 Principal Fund, and Saba Capital Management. They all likely&nbsp;made a killing on&nbsp;Thursday's wild price action.\nSo what's going on here?\nBasically, Orlando incorporated Digital World Acquisition in Miami about a month after Trump lost the election, with the goal of merging with a \"leading emerging growth technology company.\"\nThen today, his SPAC announced it would be taking Trump Media &amp; Technology Group public, on the condition of shareholder approval.\nBut unlike in other SPAC mergers where the target company discloses its financial statements or future revenue potential, the Trump Media &amp; Technology Group doesn't have much in the way of financial projections - even though it got a $1.7 billion valuation in the merger.\nThe goal of the future company is to \"create a rival to the liberal media consortium and fight back against the 'Big Tech' companies of Silicon Valley, which have used their unilateral power to silence opposing voices in America.\" The first step is launching a new site called Truth Social.\nWhat is Truth Social?\nThat remains to be seen. The future social media site hasn't actually launched yet, but it has a&nbsp;waitlist. The statement said the eventual site aims to \"stand up to the tyranny of Big Tech.\nTrump has been wanting to get back on social media since being banned from Twitter and Facebook following the January 6 insurrection - and it hasn't been easy. At first, he tried sending tweets from&nbsp;other people's accounts. Then he&nbsp;launched a blog&nbsp;called \"From the Desk of Donald J. Trump\" that flopped.\n\"We live in a world where the Taliban has a huge presence on Twitter, yet your favorite American President has been silenced. This is unacceptable,\" he said. \"I am excited to send out my first TRUTH on TRUTH Social very soon. TMTG was founded with a mission to give a voice to all.\"\nA beta version of the site could launch as soon as November 2021.\nIs this thing for real?\nEven so, Trump's company going public is all dependent on shareholder approval. According to Julian Klymochko who&nbsp;runs a SPAC-focused exchange-traded fund, he's never seen a SPAC deal get voted down. Shareholders are incentivized to approve it because of assets called warrants that they receive at the beginning of the SPAC. No deal, and those warrants are worthless.\nIs this the next meme stock?\nIf price action is any indication, it might already be a meme. On top of that, retail traders are piling on, a necessary prerequisite for a stock to achieve meme status.According to Bloomberg, Fidelity logged 55,000 buy orders for shares of the SPAC on Thursday.","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Trying to make sense of Donald Trump's SPAC? We break it down for you.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTrying to make sense of Donald Trump's SPAC? We break it down for you.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-10-22 14:34 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://markets.businessinsider.com/news/stocks/donald-trump-spac-digital-world-acquisition-truth-social-explained-2021-10>Business Insider</a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\nFormer president Donald Trump is taking his social media company public via SPAC merger.\nShares of the SPAC, Digital World Acquisition Company, more than quadrupled in price on the news.\nHere we ...\n\n<a href=\"https://markets.businessinsider.com/news/stocks/donald-trump-spac-digital-world-acquisition-truth-social-explained-2021-10\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://markets.businessinsider.com/news/stocks/donald-trump-spac-digital-world-acquisition-truth-social-explained-2021-10","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1101284007","content_text":"Former president Donald Trump is taking his social media company public via SPAC merger.\nShares of the SPAC, Digital World Acquisition Company, more than quadrupled in price on the news.\nHere we answer your burning questions on what's going on with this deal.\n\nThe SPAC craze is back, riding high on the former president's social media ambitions.\nDonald Trump's soon-to-be-launched social media site, Truth Social, announced Thursday its plans to go public through a special purpose acquisition company, aka a SPAC, called Digital World Acquisition Company. The stock ticker \"DWAC\" trended on Twitter following the announcement.\nAs the news goes viral, here are the answers to burning questions about the art of Trump's latest deal.\nSo what is a SPAC, again?\nSPACs were a nearly dormant financial tool for taking companies public until right around the start of the COVID-19 pandemic, at which point the market became a feeding frenzy for investors, speculators, and retail traders looking to cash in on private companies with big potential for growth.\nA SPAC is just a small public company with a whole lot of cash that has one simple goal: to take a private company public. They are also known as \"blank-check\" companies and the process for a company to go public via SPAC can be easier than the traditional IPO route.\nTo form a SPAC, a few people, often former bankers or corporate executives and sometimes celebrities, get together in the hopes of finding a worthwhile private company. First, the SPAC goes public, issuing shares and raising money from investors. SPAC shares are usually sold at $10 apiece - just like in the case of Trump Media's Digital World Acquisition Corp. SPAC, which raised about $283 million in its IPO, according to a filing with regulators.\nThat war chest of cash will eventually be used to strike a deal with a target company. Digital World Acquisition found Trump Media & Technology Group.\nDWAC stock is up how much?\n357% at Thursday's close! Intraday, it was up even more, gaining more than 400% before pulling back.\nWe've seen SPAC stocks go wild after announcing the target company - but not this wild. SPAC stocks normally jump after the deal is announced, even though the target company isn't public yet (shareholders still need to give the thumbs up).\nThe stock closed Thursday at $45.50, up from $9.96 the previous day. It was the most-traded stock on the market Thursday, with over 470 million shares changing hands.\nWho's behind this SPAC?\nPatrick Orlando is the SPAC's CEO. He's a former investment banker and has a hefty background in the SPAC business (he's been part of three before this one). The company's chief financial officer is Luis Orleans-Braganza, who currently serves on Brazil's National Congress.\nIf you haven't heard of either of them, you may have heard of some of the high flying hedge funds that have invested in the SPAC, like Highbridge Capital Management, Lighthouse Partners, K2 Principal Fund, and Saba Capital Management. They all likely made a killing on Thursday's wild price action.\nSo what's going on here?\nBasically, Orlando incorporated Digital World Acquisition in Miami about a month after Trump lost the election, with the goal of merging with a \"leading emerging growth technology company.\"\nThen today, his SPAC announced it would be taking Trump Media & Technology Group public, on the condition of shareholder approval.\nBut unlike in other SPAC mergers where the target company discloses its financial statements or future revenue potential, the Trump Media & Technology Group doesn't have much in the way of financial projections - even though it got a $1.7 billion valuation in the merger.\nThe goal of the future company is to \"create a rival to the liberal media consortium and fight back against the 'Big Tech' companies of Silicon Valley, which have used their unilateral power to silence opposing voices in America.\" The first step is launching a new site called Truth Social.\nWhat is Truth Social?\nThat remains to be seen. The future social media site hasn't actually launched yet, but it has a waitlist. The statement said the eventual site aims to \"stand up to the tyranny of Big Tech.\nTrump has been wanting to get back on social media since being banned from Twitter and Facebook following the January 6 insurrection - and it hasn't been easy. At first, he tried sending tweets from other people's accounts. Then he launched a blog called \"From the Desk of Donald J. Trump\" that flopped.\n\"We live in a world where the Taliban has a huge presence on Twitter, yet your favorite American President has been silenced. This is unacceptable,\" he said. \"I am excited to send out my first TRUTH on TRUTH Social very soon. TMTG was founded with a mission to give a voice to all.\"\nA beta version of the site could launch as soon as November 2021.\nIs this thing for real?\nEven so, Trump's company going public is all dependent on shareholder approval. According to Julian Klymochko who runs a SPAC-focused exchange-traded fund, he's never seen a SPAC deal get voted down. Shareholders are incentivized to approve it because of assets called warrants that they receive at the beginning of the SPAC. No deal, and those warrants are worthless.\nIs this the next meme stock?\nIf price action is any indication, it might already be a meme. On top of that, retail traders are piling on, a necessary prerequisite for a stock to achieve meme status.According to Bloomberg, Fidelity logged 55,000 buy orders for shares of the SPAC on Thursday.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":851639214,"gmtCreate":1634900748014,"gmtModify":1634900748872,"author":{"id":"3581832720375359","authorId":"3581832720375359","name":"Pixiestars","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3581832720375359","authorIdStr":"3581832720375359"},"htmlText":"Madness! Will be the next Gamestop.","listText":"Madness! Will be the next Gamestop.","text":"Madness! Will be the next Gamestop.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/851639214","repostId":1101284007,"repostType":4,"repost":{"id":"1101284007","kind":"news","pubTimestamp":1634884490,"share":"https://www.laohu8.com/m/news/1101284007?lang=&edition=full","pubTime":"2021-10-22 14:34","market":"us","language":"en","title":"Trying to make sense of Donald Trump's SPAC? We break it down for you.","url":"https://stock-news.laohu8.com/highlight/detail?id=1101284007","media":"Business Insider","summary":"Former president Donald Trump is taking his social media company public via SPAC merger.\nShares of t","content":"<ul>\n <li>Former president Donald Trump is taking his social media company public via SPAC merger.</li>\n <li>Shares of the SPAC, Digital World Acquisition Company, more than quadrupled in price on the news.</li>\n <li>Here we answer your burning questions on what's going on with this deal.</li>\n</ul>\nThe SPAC craze is back, riding high on the former president's social media ambitions.\nDonald Trump's soon-to-be-launched social media site, Truth Social, announced Thursday its plans to go public through a special purpose acquisition company, aka a SPAC, called Digital World Acquisition Company. The stock ticker \"DWAC\" trended on Twitter following the announcement.\nAs the news goes viral, here are the answers to burning questions about the art of Trump's latest deal.\nSo what is a SPAC, again?\nSPACs were a nearly dormant financial tool for taking companies public until right around the start of the COVID-19 pandemic, at which point the market became a feeding frenzy for investors, speculators, and retail traders looking to cash in on private companies with big potential for growth.\nA SPAC is just&nbsp;a small public company&nbsp;with a whole lot of cash that has one simple goal: to take a private company public. They are also known as \"blank-check\" companies and the process for a company to go public via SPAC can be easier than the traditional IPO route.\nTo form a SPAC, a few people, often former bankers or corporate executives and sometimes celebrities, get together in the hopes of finding a worthwhile private company. First, the SPAC goes public, issuing shares and raising money from investors. SPAC shares are usually sold at $10 apiece - just like in the case of Trump Media's Digital World Acquisition Corp. SPAC, which raised about $283 million in its IPO, according to a filing with regulators.\nThat war chest of cash will eventually be used to strike a deal with a target company. Digital World Acquisition found Trump Media &amp; Technology Group.\nDWAC stock is up how much?\n357% at Thursday's close! Intraday, it was up even more, gaining more than 400% before pulling back.\nWe've seen&nbsp;SPAC stocks go wild&nbsp;after announcing the target company - but not this wild. SPAC stocks normally jump after the deal is announced, even though the target company isn't public yet (shareholders still need to give the thumbs up).\nThe stock closed Thursday at $45.50, up from $9.96 the previous day. It was the most-traded stock on the market Thursday, with over 470 million shares changing hands.\nWho's behind this SPAC?\nPatrick Orlando is the SPAC's CEO. He's a former investment banker and has a hefty background in the SPAC business (he's been part of three before this one). The company's chief financial officer is Luis Orleans-Braganza, who currently serves on Brazil's National Congress.\nIf you haven't heard of either of them, you may have heard of some of the high flying hedge funds that have invested in the SPAC, like Highbridge Capital Management, Lighthouse Partners, K2 Principal Fund, and Saba Capital Management. They all likely&nbsp;made a killing on&nbsp;Thursday's wild price action.\nSo what's going on here?\nBasically, Orlando incorporated Digital World Acquisition in Miami about a month after Trump lost the election, with the goal of merging with a \"leading emerging growth technology company.\"\nThen today, his SPAC announced it would be taking Trump Media &amp; Technology Group public, on the condition of shareholder approval.\nBut unlike in other SPAC mergers where the target company discloses its financial statements or future revenue potential, the Trump Media &amp; Technology Group doesn't have much in the way of financial projections - even though it got a $1.7 billion valuation in the merger.\nThe goal of the future company is to \"create a rival to the liberal media consortium and fight back against the 'Big Tech' companies of Silicon Valley, which have used their unilateral power to silence opposing voices in America.\" The first step is launching a new site called Truth Social.\nWhat is Truth Social?\nThat remains to be seen. The future social media site hasn't actually launched yet, but it has a&nbsp;waitlist. The statement said the eventual site aims to \"stand up to the tyranny of Big Tech.\nTrump has been wanting to get back on social media since being banned from Twitter and Facebook following the January 6 insurrection - and it hasn't been easy. At first, he tried sending tweets from&nbsp;other people's accounts. Then he&nbsp;launched a blog&nbsp;called \"From the Desk of Donald J. Trump\" that flopped.\n\"We live in a world where the Taliban has a huge presence on Twitter, yet your favorite American President has been silenced. This is unacceptable,\" he said. \"I am excited to send out my first TRUTH on TRUTH Social very soon. TMTG was founded with a mission to give a voice to all.\"\nA beta version of the site could launch as soon as November 2021.\nIs this thing for real?\nEven so, Trump's company going public is all dependent on shareholder approval. According to Julian Klymochko who&nbsp;runs a SPAC-focused exchange-traded fund, he's never seen a SPAC deal get voted down. Shareholders are incentivized to approve it because of assets called warrants that they receive at the beginning of the SPAC. No deal, and those warrants are worthless.\nIs this the next meme stock?\nIf price action is any indication, it might already be a meme. On top of that, retail traders are piling on, a necessary prerequisite for a stock to achieve meme status.According to Bloomberg, Fidelity logged 55,000 buy orders for shares of the SPAC on Thursday.","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Trying to make sense of Donald Trump's SPAC? We break it down for you.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTrying to make sense of Donald Trump's SPAC? We break it down for you.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-10-22 14:34 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://markets.businessinsider.com/news/stocks/donald-trump-spac-digital-world-acquisition-truth-social-explained-2021-10>Business Insider</a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\nFormer president Donald Trump is taking his social media company public via SPAC merger.\nShares of the SPAC, Digital World Acquisition Company, more than quadrupled in price on the news.\nHere we ...\n\n<a href=\"https://markets.businessinsider.com/news/stocks/donald-trump-spac-digital-world-acquisition-truth-social-explained-2021-10\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://markets.businessinsider.com/news/stocks/donald-trump-spac-digital-world-acquisition-truth-social-explained-2021-10","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1101284007","content_text":"Former president Donald Trump is taking his social media company public via SPAC merger.\nShares of the SPAC, Digital World Acquisition Company, more than quadrupled in price on the news.\nHere we answer your burning questions on what's going on with this deal.\n\nThe SPAC craze is back, riding high on the former president's social media ambitions.\nDonald Trump's soon-to-be-launched social media site, Truth Social, announced Thursday its plans to go public through a special purpose acquisition company, aka a SPAC, called Digital World Acquisition Company. The stock ticker \"DWAC\" trended on Twitter following the announcement.\nAs the news goes viral, here are the answers to burning questions about the art of Trump's latest deal.\nSo what is a SPAC, again?\nSPACs were a nearly dormant financial tool for taking companies public until right around the start of the COVID-19 pandemic, at which point the market became a feeding frenzy for investors, speculators, and retail traders looking to cash in on private companies with big potential for growth.\nA SPAC is just a small public company with a whole lot of cash that has one simple goal: to take a private company public. They are also known as \"blank-check\" companies and the process for a company to go public via SPAC can be easier than the traditional IPO route.\nTo form a SPAC, a few people, often former bankers or corporate executives and sometimes celebrities, get together in the hopes of finding a worthwhile private company. First, the SPAC goes public, issuing shares and raising money from investors. SPAC shares are usually sold at $10 apiece - just like in the case of Trump Media's Digital World Acquisition Corp. SPAC, which raised about $283 million in its IPO, according to a filing with regulators.\nThat war chest of cash will eventually be used to strike a deal with a target company. Digital World Acquisition found Trump Media & Technology Group.\nDWAC stock is up how much?\n357% at Thursday's close! Intraday, it was up even more, gaining more than 400% before pulling back.\nWe've seen SPAC stocks go wild after announcing the target company - but not this wild. SPAC stocks normally jump after the deal is announced, even though the target company isn't public yet (shareholders still need to give the thumbs up).\nThe stock closed Thursday at $45.50, up from $9.96 the previous day. It was the most-traded stock on the market Thursday, with over 470 million shares changing hands.\nWho's behind this SPAC?\nPatrick Orlando is the SPAC's CEO. He's a former investment banker and has a hefty background in the SPAC business (he's been part of three before this one). The company's chief financial officer is Luis Orleans-Braganza, who currently serves on Brazil's National Congress.\nIf you haven't heard of either of them, you may have heard of some of the high flying hedge funds that have invested in the SPAC, like Highbridge Capital Management, Lighthouse Partners, K2 Principal Fund, and Saba Capital Management. They all likely made a killing on Thursday's wild price action.\nSo what's going on here?\nBasically, Orlando incorporated Digital World Acquisition in Miami about a month after Trump lost the election, with the goal of merging with a \"leading emerging growth technology company.\"\nThen today, his SPAC announced it would be taking Trump Media & Technology Group public, on the condition of shareholder approval.\nBut unlike in other SPAC mergers where the target company discloses its financial statements or future revenue potential, the Trump Media & Technology Group doesn't have much in the way of financial projections - even though it got a $1.7 billion valuation in the merger.\nThe goal of the future company is to \"create a rival to the liberal media consortium and fight back against the 'Big Tech' companies of Silicon Valley, which have used their unilateral power to silence opposing voices in America.\" The first step is launching a new site called Truth Social.\nWhat is Truth Social?\nThat remains to be seen. The future social media site hasn't actually launched yet, but it has a waitlist. The statement said the eventual site aims to \"stand up to the tyranny of Big Tech.\nTrump has been wanting to get back on social media since being banned from Twitter and Facebook following the January 6 insurrection - and it hasn't been easy. At first, he tried sending tweets from other people's accounts. Then he launched a blog called \"From the Desk of Donald J. Trump\" that flopped.\n\"We live in a world where the Taliban has a huge presence on Twitter, yet your favorite American President has been silenced. This is unacceptable,\" he said. \"I am excited to send out my first TRUTH on TRUTH Social very soon. TMTG was founded with a mission to give a voice to all.\"\nA beta version of the site could launch as soon as November 2021.\nIs this thing for real?\nEven so, Trump's company going public is all dependent on shareholder approval. According to Julian Klymochko who runs a SPAC-focused exchange-traded fund, he's never seen a SPAC deal get voted down. Shareholders are incentivized to approve it because of assets called warrants that they receive at the beginning of the SPAC. No deal, and those warrants are worthless.\nIs this the next meme stock?\nIf price action is any indication, it might already be a meme. On top of that, retail traders are piling on, a necessary prerequisite for a stock to achieve meme status.According to Bloomberg, Fidelity logged 55,000 buy orders for shares of the SPAC on Thursday.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":6290150,"gmtCreate":1634910958892,"gmtModify":1634910958937,"authorId":3578976238295519,"author":{"id":3578976238295519,"idStr":"3578976238295519","authorId":3578976238295519,"name":"Chifield","avatar":"https://static.tigerbbs.com/35652f65436cad86ed1f7c0d94afae69","vip":1,"crmLevel":4,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":851639214,"type":1,"supId":0,"prevId":0,"content":"MAGA!","text":"MAGA!","html":"MAGA!"},{"id":6288749,"gmtCreate":1634903236143,"gmtModify":1634903236181,"authorId":3572988793196593,"author":{"id":3572988793196593,"idStr":"3572988793196593","authorId":3572988793196593,"name":"Foxie","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":851639214,"type":1,"supId":0,"prevId":0,"content":"🚀🚀","text":"🚀🚀","html":"🚀🚀"}],"langContent":"CN"},{"id":851697416,"gmtCreate":1634900577584,"gmtModify":1634900766490,"author":{"id":"3565004892423880","authorId":"3565004892423880","name":"Chimmy","avatar":"https://static.tigerbbs.com/eb71d738ca2f4da611b425823ebf3c60","vip":1,"crmLevel":4,"crmLevelSwitch":0,"idStr":"3565004892423880","authorIdStr":"3565004892423880"},"htmlText":"All those MAGA mad Trump supporters are really out in full force.Not sure if I should get in now&nbsp;or monitor further because their plans isnt exactly solid and what are they selling or producing actually?!?","listText":"All those MAGA mad Trump supporters are really out in full force.Not sure if I should get in now&nbsp;or monitor further because their plans isnt exactly solid and what are they selling or producing actually?!?","text":"All those MAGA mad Trump supporters are really out in full force.Not sure if I should get in now or monitor further because their plans isnt exactly solid and what are they selling or producing actually?!?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/851697416","repostId":1101284007,"repostType":4,"repost":{"id":"1101284007","kind":"news","pubTimestamp":1634884490,"share":"https://www.laohu8.com/m/news/1101284007?lang=&edition=full","pubTime":"2021-10-22 14:34","market":"us","language":"en","title":"Trying to make sense of Donald Trump's SPAC? We break it down for you.","url":"https://stock-news.laohu8.com/highlight/detail?id=1101284007","media":"Business Insider","summary":"Former president Donald Trump is taking his social media company public via SPAC merger.\nShares of t","content":"<ul>\n <li>Former president Donald Trump is taking his social media company public via SPAC merger.</li>\n <li>Shares of the SPAC, Digital World Acquisition Company, more than quadrupled in price on the news.</li>\n <li>Here we answer your burning questions on what's going on with this deal.</li>\n</ul>\nThe SPAC craze is back, riding high on the former president's social media ambitions.\nDonald Trump's soon-to-be-launched social media site, Truth Social, announced Thursday its plans to go public through a special purpose acquisition company, aka a SPAC, called Digital World Acquisition Company. The stock ticker \"DWAC\" trended on Twitter following the announcement.\nAs the news goes viral, here are the answers to burning questions about the art of Trump's latest deal.\nSo what is a SPAC, again?\nSPACs were a nearly dormant financial tool for taking companies public until right around the start of the COVID-19 pandemic, at which point the market became a feeding frenzy for investors, speculators, and retail traders looking to cash in on private companies with big potential for growth.\nA SPAC is just&nbsp;a small public company&nbsp;with a whole lot of cash that has one simple goal: to take a private company public. They are also known as \"blank-check\" companies and the process for a company to go public via SPAC can be easier than the traditional IPO route.\nTo form a SPAC, a few people, often former bankers or corporate executives and sometimes celebrities, get together in the hopes of finding a worthwhile private company. First, the SPAC goes public, issuing shares and raising money from investors. SPAC shares are usually sold at $10 apiece - just like in the case of Trump Media's Digital World Acquisition Corp. SPAC, which raised about $283 million in its IPO, according to a filing with regulators.\nThat war chest of cash will eventually be used to strike a deal with a target company. Digital World Acquisition found Trump Media &amp; Technology Group.\nDWAC stock is up how much?\n357% at Thursday's close! Intraday, it was up even more, gaining more than 400% before pulling back.\nWe've seen&nbsp;SPAC stocks go wild&nbsp;after announcing the target company - but not this wild. SPAC stocks normally jump after the deal is announced, even though the target company isn't public yet (shareholders still need to give the thumbs up).\nThe stock closed Thursday at $45.50, up from $9.96 the previous day. It was the most-traded stock on the market Thursday, with over 470 million shares changing hands.\nWho's behind this SPAC?\nPatrick Orlando is the SPAC's CEO. He's a former investment banker and has a hefty background in the SPAC business (he's been part of three before this one). The company's chief financial officer is Luis Orleans-Braganza, who currently serves on Brazil's National Congress.\nIf you haven't heard of either of them, you may have heard of some of the high flying hedge funds that have invested in the SPAC, like Highbridge Capital Management, Lighthouse Partners, K2 Principal Fund, and Saba Capital Management. They all likely&nbsp;made a killing on&nbsp;Thursday's wild price action.\nSo what's going on here?\nBasically, Orlando incorporated Digital World Acquisition in Miami about a month after Trump lost the election, with the goal of merging with a \"leading emerging growth technology company.\"\nThen today, his SPAC announced it would be taking Trump Media &amp; Technology Group public, on the condition of shareholder approval.\nBut unlike in other SPAC mergers where the target company discloses its financial statements or future revenue potential, the Trump Media &amp; Technology Group doesn't have much in the way of financial projections - even though it got a $1.7 billion valuation in the merger.\nThe goal of the future company is to \"create a rival to the liberal media consortium and fight back against the 'Big Tech' companies of Silicon Valley, which have used their unilateral power to silence opposing voices in America.\" The first step is launching a new site called Truth Social.\nWhat is Truth Social?\nThat remains to be seen. The future social media site hasn't actually launched yet, but it has a&nbsp;waitlist. The statement said the eventual site aims to \"stand up to the tyranny of Big Tech.\nTrump has been wanting to get back on social media since being banned from Twitter and Facebook following the January 6 insurrection - and it hasn't been easy. At first, he tried sending tweets from&nbsp;other people's accounts. Then he&nbsp;launched a blog&nbsp;called \"From the Desk of Donald J. Trump\" that flopped.\n\"We live in a world where the Taliban has a huge presence on Twitter, yet your favorite American President has been silenced. This is unacceptable,\" he said. \"I am excited to send out my first TRUTH on TRUTH Social very soon. TMTG was founded with a mission to give a voice to all.\"\nA beta version of the site could launch as soon as November 2021.\nIs this thing for real?\nEven so, Trump's company going public is all dependent on shareholder approval. According to Julian Klymochko who&nbsp;runs a SPAC-focused exchange-traded fund, he's never seen a SPAC deal get voted down. Shareholders are incentivized to approve it because of assets called warrants that they receive at the beginning of the SPAC. No deal, and those warrants are worthless.\nIs this the next meme stock?\nIf price action is any indication, it might already be a meme. On top of that, retail traders are piling on, a necessary prerequisite for a stock to achieve meme status.According to Bloomberg, Fidelity logged 55,000 buy orders for shares of the SPAC on Thursday.","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Trying to make sense of Donald Trump's SPAC? 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We break it down for you.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-10-22 14:34 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://markets.businessinsider.com/news/stocks/donald-trump-spac-digital-world-acquisition-truth-social-explained-2021-10>Business Insider</a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\nFormer president Donald Trump is taking his social media company public via SPAC merger.\nShares of the SPAC, Digital World Acquisition Company, more than quadrupled in price on the news.\nHere we ...\n\n<a href=\"https://markets.businessinsider.com/news/stocks/donald-trump-spac-digital-world-acquisition-truth-social-explained-2021-10\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://markets.businessinsider.com/news/stocks/donald-trump-spac-digital-world-acquisition-truth-social-explained-2021-10","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1101284007","content_text":"Former president Donald Trump is taking his social media company public via SPAC merger.\nShares of the SPAC, Digital World Acquisition Company, more than quadrupled in price on the news.\nHere we answer your burning questions on what's going on with this deal.\n\nThe SPAC craze is back, riding high on the former president's social media ambitions.\nDonald Trump's soon-to-be-launched social media site, Truth Social, announced Thursday its plans to go public through a special purpose acquisition company, aka a SPAC, called Digital World Acquisition Company. The stock ticker \"DWAC\" trended on Twitter following the announcement.\nAs the news goes viral, here are the answers to burning questions about the art of Trump's latest deal.\nSo what is a SPAC, again?\nSPACs were a nearly dormant financial tool for taking companies public until right around the start of the COVID-19 pandemic, at which point the market became a feeding frenzy for investors, speculators, and retail traders looking to cash in on private companies with big potential for growth.\nA SPAC is just a small public company with a whole lot of cash that has one simple goal: to take a private company public. They are also known as \"blank-check\" companies and the process for a company to go public via SPAC can be easier than the traditional IPO route.\nTo form a SPAC, a few people, often former bankers or corporate executives and sometimes celebrities, get together in the hopes of finding a worthwhile private company. First, the SPAC goes public, issuing shares and raising money from investors. SPAC shares are usually sold at $10 apiece - just like in the case of Trump Media's Digital World Acquisition Corp. SPAC, which raised about $283 million in its IPO, according to a filing with regulators.\nThat war chest of cash will eventually be used to strike a deal with a target company. Digital World Acquisition found Trump Media & Technology Group.\nDWAC stock is up how much?\n357% at Thursday's close! Intraday, it was up even more, gaining more than 400% before pulling back.\nWe've seen SPAC stocks go wild after announcing the target company - but not this wild. SPAC stocks normally jump after the deal is announced, even though the target company isn't public yet (shareholders still need to give the thumbs up).\nThe stock closed Thursday at $45.50, up from $9.96 the previous day. It was the most-traded stock on the market Thursday, with over 470 million shares changing hands.\nWho's behind this SPAC?\nPatrick Orlando is the SPAC's CEO. He's a former investment banker and has a hefty background in the SPAC business (he's been part of three before this one). The company's chief financial officer is Luis Orleans-Braganza, who currently serves on Brazil's National Congress.\nIf you haven't heard of either of them, you may have heard of some of the high flying hedge funds that have invested in the SPAC, like Highbridge Capital Management, Lighthouse Partners, K2 Principal Fund, and Saba Capital Management. They all likely made a killing on Thursday's wild price action.\nSo what's going on here?\nBasically, Orlando incorporated Digital World Acquisition in Miami about a month after Trump lost the election, with the goal of merging with a \"leading emerging growth technology company.\"\nThen today, his SPAC announced it would be taking Trump Media & Technology Group public, on the condition of shareholder approval.\nBut unlike in other SPAC mergers where the target company discloses its financial statements or future revenue potential, the Trump Media & Technology Group doesn't have much in the way of financial projections - even though it got a $1.7 billion valuation in the merger.\nThe goal of the future company is to \"create a rival to the liberal media consortium and fight back against the 'Big Tech' companies of Silicon Valley, which have used their unilateral power to silence opposing voices in America.\" The first step is launching a new site called Truth Social.\nWhat is Truth Social?\nThat remains to be seen. The future social media site hasn't actually launched yet, but it has a waitlist. The statement said the eventual site aims to \"stand up to the tyranny of Big Tech.\nTrump has been wanting to get back on social media since being banned from Twitter and Facebook following the January 6 insurrection - and it hasn't been easy. At first, he tried sending tweets from other people's accounts. Then he launched a blog called \"From the Desk of Donald J. Trump\" that flopped.\n\"We live in a world where the Taliban has a huge presence on Twitter, yet your favorite American President has been silenced. This is unacceptable,\" he said. \"I am excited to send out my first TRUTH on TRUTH Social very soon. TMTG was founded with a mission to give a voice to all.\"\nA beta version of the site could launch as soon as November 2021.\nIs this thing for real?\nEven so, Trump's company going public is all dependent on shareholder approval. According to Julian Klymochko who runs a SPAC-focused exchange-traded fund, he's never seen a SPAC deal get voted down. Shareholders are incentivized to approve it because of assets called warrants that they receive at the beginning of the SPAC. No deal, and those warrants are worthless.\nIs this the next meme stock?\nIf price action is any indication, it might already be a meme. On top of that, retail traders are piling on, a necessary prerequisite for a stock to achieve meme status.According to Bloomberg, Fidelity logged 55,000 buy orders for shares of the SPAC on Thursday.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":6288611,"gmtCreate":1634901897596,"gmtModify":1634901897712,"authorId":3582655395149820,"author":{"id":3582655395149820,"idStr":"3582655395149820","authorId":3582655395149820,"name":"Bob87","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":4,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":851697416,"type":1,"supId":0,"prevId":0,"content":"Maga hats [开心]","text":"Maga hats [开心]","html":"Maga hats [开心]"}],"langContent":"CN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":104,"commentSize":23,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}