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Digital World Acquisition Corp.NasdaqGM:DWAC Stock Report

Market Cap US$1.4b
Share Price
n/a
1Y266.5%
7D40.4%
1D35.2%
Portfolio Value
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Digital World Acquisition Corp.

NasdaqGM:DWAC Stock Report

Market Cap: US$1.4b

This company is no longer active

The company may no longer be operating, as it may be out of business. Find out why through their latest events.

Digital World Acquisition (DWAC) Stock Overview

Digital World Acquisition Corp. does not have significant operations. More details

DWAC fundamental analysis
Snowflake Score
Valuation0/6
Future Growth0/6
Past Performance0/6
Financial Health2/6
Dividends0/6

Risk Analysis

Makes less than USD$1m in revenue ($0)

Negative shareholders equity

Highly volatile share price over the past 3 months


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Digital World Acquisition Corp. Competitors

Price History & Performance

Summary of share price highs, lows and changes for Digital World Acquisition
Historical stock prices
Current Share PriceUS$49.95
52 Week HighUS$58.72
52 Week LowUS$12.40
Beta6.33
1 Month Change0.54%
3 Month Change174.90%
1 Year Change266.47%
3 Year Changen/a
5 Year Changen/a
Change since IPO402.01%

Recent News & Updates

Seeking Alpha • Mar 21

Digital World Acquisition: Trump Merger Could Close Next Week Bringing Volatility

Summary On Friday the 22th, Digital World will hold a meeting of shareholders to vote the merger with Trump Media. After this, the merger could be closed quickly and the resulting company with stock symbol DJT could commence trading on the Nasdaq next week. The potential media coverage could result in significant volatility and a large price movement. Over the long term, I simply do not see this company becoming a decent investment, but in the short term, traders could make money during upcoming events. Read the full article on Seeking Alpha
Seeking Alpha • Feb 29

Digital World Acquisition: It's Time To Short The Trump Bump (Again)

Summary Digital World Acquisition's SPAC may take former President Trump's social media company public, but it's unclear if anything has changed in its flagship platform to warrant a higher share price. Truth Social has significantly fewer monthly active users compared to X (formally Twitter), and major global social media platforms like Facebook, Instagram, and TikTok. If Trump becomes the President again in 2025, Truth Social could benefit as his main mode of communication, but the platform's financials and revenue sources remain weak. Read the full article on Seeking Alpha
Seeking Alpha • Feb 20

Digital World Acquisition Corp.: Not Ready For Primetime

Summary DWAC shares have soared as the merger with Trump Media & Technology Group potentially approaches, currently valuing the combined company at over $5.5 billion. The special meeting is set for March 22nd, just days before former President Trump's first criminal trial, adding legal risk to the investment. The valuation of TMTG seems extremely inflated, with the company reporting only $3.38 million in revenue for the nine months ended in September 2023. Read the full article on Seeking Alpha

Recent updates

Seeking Alpha • Mar 21

Digital World Acquisition: Trump Merger Could Close Next Week Bringing Volatility

Summary On Friday the 22th, Digital World will hold a meeting of shareholders to vote the merger with Trump Media. After this, the merger could be closed quickly and the resulting company with stock symbol DJT could commence trading on the Nasdaq next week. The potential media coverage could result in significant volatility and a large price movement. Over the long term, I simply do not see this company becoming a decent investment, but in the short term, traders could make money during upcoming events. Read the full article on Seeking Alpha
Seeking Alpha • Feb 29

Digital World Acquisition: It's Time To Short The Trump Bump (Again)

Summary Digital World Acquisition's SPAC may take former President Trump's social media company public, but it's unclear if anything has changed in its flagship platform to warrant a higher share price. Truth Social has significantly fewer monthly active users compared to X (formally Twitter), and major global social media platforms like Facebook, Instagram, and TikTok. If Trump becomes the President again in 2025, Truth Social could benefit as his main mode of communication, but the platform's financials and revenue sources remain weak. Read the full article on Seeking Alpha
Seeking Alpha • Feb 20

Digital World Acquisition Corp.: Not Ready For Primetime

Summary DWAC shares have soared as the merger with Trump Media & Technology Group potentially approaches, currently valuing the combined company at over $5.5 billion. The special meeting is set for March 22nd, just days before former President Trump's first criminal trial, adding legal risk to the investment. The valuation of TMTG seems extremely inflated, with the company reporting only $3.38 million in revenue for the nine months ended in September 2023. Read the full article on Seeking Alpha
Seeking Alpha • Jan 17

Digital World: Sell Before It's Too Late

Summary Digital World Acquisition Corp. surged above $20 following Donald Trump's win in the Republican Iowa Caucus. The merger between Digital World and Trump Media & Technology Group, or TMTG, has not yet closed, causing funding issues for TMTG. Truth Social, the social media platform of TMTG, has not gained traction and faces competition from other platforms like Twitter/X. Digital World stock has no business warranting a current post-deal close valuation of $2.5+ billion. Read the full article on Seeking Alpha
Seeking Alpha • Oct 13

5 stocks to watch for Thursday: Trump SPAC, Amazon, Walgreens and more

With the S&P 500 attempting to break a six-session losing streak, the major U.S. equity averages look poised for a solid upswing at the start of Thursday's trading. U.S. stocks are once again taking their cues from news from the U.K. In general, momentum and macro stories will likely dominate trading, with U.S. CPI data playing a role as well. Still, some names will move on stock-specific news. Here are some stocks to watch for Thursday: Digital World Acquisition (NASDAQ:DWAC), the SPAC set to bring Donald Trump's media company public, surged in premarket trading. The stock jumped nearly 8%, with investors reacting to news that the Truth Social social media app appeared on Google's Play Store for the first time. Walgreens Boots (WBA) rose in premarket action after reporting better-than-expected quarterly results. The drug store chain also predicted adjusted EPS for the full year of $4.45 to $4.65, compared to analysts' consensus of $4.49. Boosted by the news, the stock rose about 5% before the opening bell. Taiwan Semiconductor (TSM) also edged higher in the wake of its quarterly report. The company beat expectations on both the top and bottom lines. Revenue rose 36% from last year to reach $20.23B -- beating expectations by more than $1B. BlackRock (BLK) issued quarterly results that exceeded projections, helped by increased revenue from its technology platform, Aladdin. The alternative investment firm said long-term net inflows came in at $65B in Q3, down from $69B in Q2. Amazon (AMZN) is reportedly launching a set of cost-trimming moves, including shutting down some of its more speculative ventures. According to Bloomberg, this includes the firm's Amazon Explore product, a digital travel offering.
Seeking Alpha • Oct 05

Digital World holds gain as Trump's Truth Social comes to Samsung devices

Digital World Acquisition (NASDAQ:DWAC) - the blank-check company on a choppy journey to take Donald Trump's media company and Truth Social app public - is holding on to a gain (up 0.4%) amid a sharply lower market, after the news that Truth Social has come to Samsung Android devices. The Truth Social Android app showed up in Samsung's Galaxy Store app market. The app has been available in Apple's App Store since Feb. 21. It's not yet available in Google's bigger Android market the Play Store, which is instead asking users to pre-register to receive the app. "We continue to have an open and productive dialogue with Google, and hope that Android users will soon be able to download Truth Social from the Play Store," Trump Media and Technology Group CEO Devin Nunes said Tuesday. Digital World Acquisition (DWAC) ended Tuesday 5.3% lower following the news that Elon Musk was pursuing completing his $44B deal for Twitter.
Seeking Alpha • Sep 26

Digital World: Dumpster Fire Grows

Summary Digital World Acquisition Corp. has now lost some PIPE investors due to the delay in getting the SPAC approved and the reduced stock price. The SPAC still lacks the votes for the extension providing another year to close the SPAC deal. The stock has too many red flags to own at $16. The bad news for Digital World Acquisition Corp. (DWAC) just continues to add up. The SPAC taking former President Donald Trump's Truth Social public is struggling to close the deal due to SEC issues and the lack of retail investor votes. My investment thesis remains very Bearish on the stock, warning investors to stay on the sidelines until better information exists. Nothing Going Right At one point, Digital World was one of the most promising SPACs with the stock surging to $100 on news of a deal with Trump Media & Technology Group ("TMTG"). As a social media power looking for a free speech platform, TMTG appeared a great concept for former President Donald Trump and investors. Nearly 20 months after Trump left the White House and his exclusion from most media platforms, the former President just doesn't appear to have the same reach. Truth Social hasn't gotten off to a great start, and the lack of updated financial data isn't helping the excitement around the social platform. Regardless, though, the biggest issue facing Digital World is the inability to close the SPAC deal. The SEC continues to investigate the timing of the original deal, and investors recently failed to vote on an extension of the timeline to close the deal. Now, investors in the original $1 billion PIPE aren't happy with the stock price dipping. They wanted to work on better terms. The apparent lack of a new deal led to $138.5 million worth of investments terminating the PIPE investment out of the $1 billion original plan. The PIPE still has $861.5 million in investments, but the delay in closing the deal will definitely lead to lower conversion prices leading to additional shares issued. The initial conversion rate was only 18 million shares at a price of $56, but the conversion price shall be adjusted to the greater of a 40% discount to the closing VWAP and the floor price of $10.00. The FBI raid of Mar-Lago led to an initial surge of Truth Social app downloads. Though, data from data.ai suggested the app only had 107,500 global downloads for the week ending August 15. The number was 5x the prior week, highlighting how weak app downloads have been for Truth Social. As of now, Trump only has 4.1 million followers on Truth Social after having 89 million on Twitter. The user @realDonaldTrump hasn't seen much growth in the last few months. Source: Truth Social While Trump regularly posts on the platform now, the engagement is far lower than back on Twitter when hundreds of thousands of users would like or retweet his posts. At the same time, the social media platform was probably throttling Trump, while Truth Social is likely promoting the 45th President of the U.S. on a regular basis. Voting Pains Digital World isn't the first SPAC to run into problems getting retail investors to vote on the deal. Though, the SPAC might be the first one with the stock trading above $20 at the time to have investors fail to vote for an extension of the timeline for closing a business combination, which would force the redemption of shares at just $10.30 per share now. Investors failing to vote for the deal will indeed end up for a 50% haircut from the price those shares could've been sold for on the Nasdaq. Digital World adjourned the special meeting vote until October 10, and the SPAC needs 65% of shareholders to vote for the deal per the charter. Without an extension approval, Digital World only has until December 8 to close the deal. The extension approval will give the SPAC until September 8, 2023 to close the deal. In theory, most SPAC deals close within a year from the original business combination agreement, but this deal involves a former President hated by the legal system with the SEC already having taken 115 days back on September 8 to provide feedback. The stock has now fallen over 40% since my original warning on Digital World back in June. The Truth Social platform was very basic, and the site had limited users questioning why the stock would be worth nearly $30 on a deal. Elon Musk, on the verge of being forced to close the acquisition of Twitter (TWTR), remains a very bad outcome for Truth Social and Trump Media. A more neutral social media platform eliminates the main reason for the development of the platform in the first place.
Seeking Alpha • Sep 20

Trump SPAC Digital World sinks 10% amid deal financing deadline, potential dilution-report

Trump SPAC Digital World Acquisition (NASDAQ:DWAC) dropped as a deadline for financing for its plans to take Trump's social media company and app Truth Social public was set to expire on Tuesday. Investors in the SPAC's $1 billion PIPE financing are in talks with DWAC CEO Patrick Orlando to try to get better terms that would move the risk to Trump and his backers and away from the investors, according to a Financial Times report. Under a plan being discussed, investors may be allowed to convert preferred stock if the share price falls to as low as $2/share, according to the FT, which cited people familiar. The lower conversion price, down from $56/share, would dilute other shareholders, including Trump. The report comes as DWAC has struggled to get the necessary 65% of shareholders needed to approve the combination with Trump's media company and has adjourned a shareholder vote until Oct. 10 as it attempts to gain more votes. Only about 40% of holders have voted in favor of the transaction, according to the FT report from Saturday. DWAC has an additional lifeline to survive after SPAC's sponsor deposited $2.88 million to extend the time company needs to complete its deal by three months until Dec. 8. This is the first of two three-month extensions under the company's governing documents. DWAC has warned previously that if the deal isn't extended, the SPAC may be forced to liquidate. The FT reported on Saturday that DWAC failed to pay the proxy firm that has been soliciting votes for its deal to take Trump Media & Technology Group public. Dear Readers: We recognize that politics often intersects with the financial news of the day, so we invite you to click here to join the separate political discussion.
Seeking Alpha • Sep 06

Trump SPAC Digital World tumbles 23% on report of failed extension for deal

Trump SPAC Digital World Acquisition (NASDAQ:DWAC)  plunged 23%  in premarket trading after a report that it failed to win approval for an extension to complete its deal with Trump's social media company and app Truth Social. Digital World (DWAC) executives don't believe they have secured enough votes to secure a one year extension to complete the deal, according to a Reuters report, which cited people familiar. The outcome of the vote is scheduled to be announced later Tuesday at a meeting of DWAC holders. Developing story ...
Seeking Alpha • Aug 25

Trump SPAC Digital World dips on report it's not paying Web vendor

Digital World Acquisition (NASDAQ:DWAC), the blank-check company behind Donald Trump's Truth Social network, has taken an afternoon dip alongside a report that one key vendor isn't getting paid for service. RightForge says Truth Social stopped making contractually obligated payments for Web hosting services months ago, leading to payables of $1.6M, Fox Business reports. Digital World Acquisition has slipped 4.4% midafternoon Thursday on a volume spike.
Seeking Alpha • Aug 11

Digital World Acquisition: More Bad News

Elon Musk appears destined to buy Twitter, whether he still wants the social platform or not. Digital World doesn't appear priced for the reality that most SPACs miss financial targets. The stock doesn't appear priced for the current weakness in the ad market for social media platforms. While all of the regulatory probes and FBI raids could help the popularity of former President Trump, Digital World Acquisition ([[DWAC]], [[DWACU]]) needs a weakened Twitter (TWTR) to have any hope of success. With signs that Elon Musk is preparing to fund the deal to purchase Twitter, the Trump media empire still appears dead on arrival. My investment thesis remains very Bearish on the SPAC deal where the valuation still makes no sense. Twitter Deal Back On Trump Media & Technology Group (TMTG) basically created Truth Social as a Twitter clone after President Trump was kicked off the platform. TMTG and Digital World needs the platform to at least stay perceived as anti-conservative in order to gain much traction. Elon Musk selling more shares to close the Twitter deal isn't a good sign that a new social media platform will even be in demand in a few months. The Tesla (TSLA) CEO sold another $7 billion worth of shares indicating his concern that the ongoing lawsuit in Delaware court might force him to close the deal. Considering the transaction is worth ~$44 billion, Musk is likely to dive into improving the platform to make his large investment worthwhile whether he still wants the social media platform or not. In such a scenario, Truth Social is unlikely to garner users above the most hardcore Trump fans. The platform hasn't provided much data on users lately, but the app isn't ranked high on App Store downloads. At least, Truth Social continues to release improvements to the app, but the Android app is only a pre-order on the Google Play Store. While updating the platform is a positive, some research continues to suggest Truth Social isn't a haven for free speech. Other social media platforms have struggled with content moderation and Public Citizen research appears to suggest Truth Social is having similar problems per Cheyenne Hunt-Majer: Truth Social is far from the haven of free speech that Trump promised, as even conservative viewpoints and links have been shadow-banned. It's not at all clear how Truth Social determines which content will be labled as sensitive, why some content is censored after it's posted, and why other content seems to be preemptively blocked from appearing on the platform at all. Either way, TMTG isn't building much of a media empire to suggest the original financial projections are going to be beat, or even matches. A lot of SPACs end up missing targets and in this case investors can just run with the forecasts for 2023 total users at 41 million and revenues of only $114 million. Source: TMTG presentation Note, Nextdoor (KIND) is a successful social app focused on local users recently reporting 75 million registered users and 37 million weekly average users (WAUs). The platform launched back in 2011 and hired former Square (SQ) CFO Sarah Friar, yet the business just cut 2022 guidance to revenues of $225 million. Truth Social can definitely ramp faster than Nextdoor, but the app doesn't appear to have anything more than a niche business and all of the other me-too social platforms have struggled as well. Similarly, Nextdoor was a promising SPAC deal with revenue expectations of $249 million this year. The company already has a successful platform and still couldn't hit smaller targets than the Truth Social 2024 plan at $835 million. Nextdoor only produced $1.48 per user in Q2 ARPU and other smaller social media platforms have struggled to reach higher numbers. The company is only on a pace for 2022 ARPU in the $6 range while Truth Social forecasted for users to generate nearly $13 each by 2024 in basically the second year of full operations. Crazy Price Despite all of the negative headlines, Digital World still trades at $30. Sure, the stock is down nearly 70% from early 2022 highs near $100, but one has to question why the SPAC ever traded this high. If the SPAC deal closes and that remains uncertain due to the regulatory probes, TMTG will have ~200 million shares outstanding. The actual amount depends on the share price utilized for the $1 billion in PIPE shares.
Seeking Alpha • Jul 25

Digital World Acquisition And Twitter's Potential Collapse

Truth Social wants to beat Twitter with an open platform that champions the First Amendment. The company's go-public transaction with Digital World Acquisition has been stalled by several federal investigations. User growth projections are ambitious and have driven strong investor enthusiasm. Blank check company Digital World Acquisition (DWAC) is working on a business combination that will see new social media upstart Truth Social go public. However, the timeline for the completion of the go-public transaction has been thrown into disarray on the back of a series of subpoenas from the SEC and the U.S. Department of Justice. This presents the most salient risk for bulls as the merger could get terminated if the regulatory burden gets insurmountable. A scenario that would most likely see shares of DWAC immediately revert back to the $10 SPAC reference price, a nearly 70% drop from current levels. Truth Social, which made its official app store debut back in February, has made a fight for First Amendment protections its core mission. The company wants to challenge the current social media orthodoxy which sees control of the landscape by a small group of mostly California-based companies who have been criticized for being partisan in their approach to content moderation. As Truth Social's user interface is not dissimilar to Twitter (TWTR), the company's bull case is built on its capitalization of the malaise faced by disgruntled users of the latter. Whilst Truth Social wants a platform that encourages conversations without implicit bias against any political ideology, the company is likely to appeal to supporters of the 45th President of the United States. Donald Trump sits on the board of Truth Social's holding company and is also mentioned 87 times in the company's go-public presentation to investors. Hence, the company does stand to capture a segment of the social media sphere who feel that the current platforms are not conducive to their outlook and values. Data by YCharts Digital World is about 68% off its 52-week highs as the previous euphoria that drove its common shares to extreme levels has moderated on the back of material uncertainty being embedded into the completion of the go-public transaction. Those considering buying shares now will be betting that Truth social's management is able to navigate separate federal investigations to consummate the merger. Encouraging Open And Free Global Conversations Truth Social enters a crowded space for its self-proclaimed ambition to reclaim the American people's right to free expression. There are a number of startups like Parler, MeWe, Gettr, and Rumble in what is fast becoming a crowded field for First Amendment-type startups with significantly laxer approaches to content moderation. As there is a strong overlap in users between all platforms, Truth Social will find itself in heavy competition in what remains quite a market niche. Most of Truth's target market will likely remain on Twitter due to the network effect. Essentially, as more people use a product, the value to everyone increases. This snowballs to create an increasingly greater gravitational pull that creates bottlenecks to new platforms being able to pull users. Also, whilst Twitter's content moderation policies have been criticized by bears as being overly partisan, the company still allows a wide variety of different political viewpoints on its platform. Truth Social cannot be dependent on just Trump to pull in users, and these other 'power users' are unlikely to abandon their large audience base for a new platform with no inherent benefit. Hence, Truth Social's goal to reach tens of millions of active users within the next few years could prove to be somewhat Sisyphean. Twitter's current malaise does present tailwinds for Truth Social. With Elon Musk having terminated his proposed acquisition, a scenario which Twitter's management described as a nightmare, the company will find itself floundering as the advertising space faces headwinds. Some analysts have priced in a potential downside for Twitter's common shares to $11, a 72% decline from current levels. The company's credibility with investors, weakness in the advertising market, and fake users and bot issues have also impacted overall sentiment in the stock. The breakdown of Musk's proposed buyout presents a strong boost to Truth Social as it was widely expected that Musk would reduce content moderation policies to allow back accounts previously banned by the platform.
Seeking Alpha • Jun 21

Digital World Acquisition: Headed For Failure

Digital World continues to work on a business combination with Trump's media empire. The SPAC deal appears headed for failure as Truth Social has gotten off to a slow start. The stock has a valuation of at least $4 billion here and the documented valuation of Trump to a fully functioning Twitter was far lower.
Seeking Alpha • May 23

Should Trump Sack DWAC And Pursue Paltalk Or GigaMedia?

Heightened regulatory scrutiny could delay or even derail Trump Media & Technology Group's DWAC merger. Tremendous value of Trump social media following may be lessened if merger delayed past midterm elections. TMTG/Truth Social should consider alternative means of gaining funding through a NASDAQ listing. Acquiring NASDAQ shell through direct buy or reverse merger could be quicker, lower cost and significantly less dilutive for TMTG shareholders.
Seeking Alpha • Apr 27

Digital World Acquisition: Buy The Drop

Shares of DWAC have dropped 80% from their 1-year high. Full roll-out of TMTG’s social media platform could revitalize interest in DWAC. Shares are too cheap to ignore.
Seeking Alpha • Apr 14

DWAC Finally Filed Their 10-K: This Is What We Learned

DWAC filed their 10-K on April 13. They are still expecting to complete the merger with Trump's media company before September 20, 2022. No mention of any SEC investigation in 10-K. DWAC had a 2021 loss of $1,391,593, which, of course, does not include Trump's media company. Still waiting for S-4 filing.
Seeking Alpha • Apr 04

Is The DWAC Merger Deal With Trump In Trouble?

DWAC failed to file their 10-K by March 31. SEC made a number of new proposed SPAC regulations on March 30. Investors are still waiting for their S-4 filing. Technical problems continue with Truth Social. I still consider DWAC a hold.
Seeking Alpha • Mar 10

Is DWAC Stock A Buy Or Sell After Truth Social Launch? It's Certainly Not A Buy

The merger of SPAC Digital World Acquisition Corp. and Trump Media & Technology Group has been well-received by investors — until recently. Shares are selling off amid a more nervous market and given concerns about early execution and valuation, the decline in DWAC stock makes some sense. Given an enterprise value still above $14 billion and very real questions about TMTG's long-term viability, more selling can continue. There's no doubt a business opportunity of some size here, but, of late, the market has reminded investors that valuation matters. It's difficult to see Digital World stock avoiding that lesson.
Seeking Alpha • Feb 07

The SEC, Trump And DWAC - A Straightforward Analysis

There is significant confusion about the SEC and the DWAC merger deal with Trump's media company. There was a voluntary information and document request by the SEC, but it was not a SEC formal order of investigation. Forward-looking statements by a SPAC contained in their SEC Form S-4 have safe harbor protection. Investors are waiting for the filing of their Form S-4. TRUTH is expected to launch very soon.
Seeking Alpha • Jan 14

DWAC: This Is More Hype Than Fundamentals

Digital World Acquisition Corp. is the SPAC that announced the acquisition of Donald Trump's Trump Media & Technology Group. While the company boasts promises of changing the social media landscape driven by Donald Trump's massive following base, the company's financial projection is very bullish and unrealistic. Social media companies have been under a lot of pressure from regulators and Truth Social is not likely to avoid the scrutiny. There remain too many risks in this story for investors to be long at this point.
Seeking Alpha • Dec 30

DWAC: The SPAC Craze Is Over

Digital World Acquisition announced a merger deal with Trump Media & Technology Group in October. The new media company will go toe-to-toe with big technology companies including Twitter and Metaverse. The initial Trump SPAC craze has faded and platform specifics are required to reduce investment risk.
Seeking Alpha • Dec 12

DWAC: Another Boring Legal Update On The SPAC Deal With Trump

A $1.0 billion PIPE convertible preferred stock financing deal was announced last week. Trump and his partners would receive new stock worth $7.14 billion, using the latest DWAC stock price of $56. DWAC public shareholders would receive approximately 13.8% of the stock in the merged company, using the latest DWAC stock price. The potential number of shares under the conversion of the preferred stock is very complex and could impact who controls the company. A limited amount of financial projections were included in their recent 8-K filing.
Seeking Alpha • Dec 06

DWAC: Trump Is At It Again And $1 Billion Makes A Big Difference

Trump Media has secured $1 billion in funding through a PIPE deal. This can be interpreted as both bullish and bearish news. DWAC is seeing renewed interest and could be set up for another "meme run."
Seeking Alpha • Nov 22

DWAC: The Most Obvious Short Is Not Even Close To Over

DWAC soared after plans to take the former President Trump's social media dream into the public arena to take on the likes of Facebook, Instagram and Twitter. But as reality kicked in, growth potential has mostly evaporated and the SPAC price fell from around $125 to $50 per share. Even after that fall though, I believe the fundamentals and long-term prospects for the platform call for another 40% downside from current prices. As a result, I continue to hold short through stock and options and remain highly bearish on the long-term prospects of Digital World Acquisition.
Seeking Alpha • Nov 05

DWAC: SPAC Back To Reality

Digital World Acquisition Corporation shares rose over 1000% last week, but the SPAC has now lost volume and momentum. Truth Social is off to a rocky start, and there is still a lot of unknown variables. Though I see potential, the risks outweigh the benefits at this point.
Seeking Alpha • Oct 28

DWAC: Details Of The Newly Filed Merger Agreement Between Digital World Acquisition And Trump

On October 26, a merger agreement between Digital World Acquisition Corp and Donald Trump was filed with the SEC. Trump could receive up to 125.78 million shares, before deducting the impact for his company's incentive plan, or about $8.18 billion using the current stock price of $65. The total number of shares outstanding of the merged company could be as high as 177.7 million, before any additional shares from potential PIPE financing. Waiting for the pro forma financial statements to be filed, before determining the shares' appropriate valuation.
Seeking Alpha • Oct 22

The TRUTH About The Trump Media & Technology SPAC

The SPAC Digital World Acquisition has announced that it will merge with Trump Media Corp. Trump Media Corp. has high ambitions to disrupt Big Tech. Trump Media Corp. hopes to use former President Trump's large social following to create a viral social platform. I crunch the numbers to see if there's any fundamental value to the stock.

Shareholder Returns

DWACUS Capital MarketsUS Market
7D40.4%2.4%0.6%
1Y266.5%2.5%19.5%

Return vs Industry: DWAC exceeded the US Capital Markets industry which returned 34.5% over the past year.

Return vs Market: DWAC exceeded the US Market which returned 30.4% over the past year.

Price Volatility

Is DWAC's price volatile compared to industry and market?
DWAC volatility
DWAC Average Weekly Movement32.3%
Capital Markets Industry Average Movement3.9%
Market Average Movement7.3%
10% most volatile stocks in US Market16.7%
10% least volatile stocks in US Market3.2%

Stable Share Price: DWAC's share price has been volatile over the past 3 months.

Volatility Over Time: DWAC's weekly volatility has increased from 19% to 32% over the past year.

About the Company

FoundedEmployeesCEOWebsite
2020n/aEric Swiderwww.dwacspac.com

Digital World Acquisition Corp. does not have significant operations. The company focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or related business combination with one or more businesses. It intends to identify on technology-focused companies in the SaaS and technology, or fintech and financial services sector in the Americas.

Digital World Acquisition Corp. Fundamentals Summary

How do Digital World Acquisition's earnings and revenue compare to its market cap?
DWAC fundamental statistics
Market capUS$1.37b
Earnings (TTM)-US$25.55m
Revenue (TTM)n/a
0.0x
P/S Ratio
-72.7x
P/E Ratio

Is DWAC overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
DWAC income statement (TTM)
RevenueUS$0
Cost of RevenueUS$0
Gross ProfitUS$0
Other ExpensesUS$25.55m
Earnings-US$25.55m

Last Reported Earnings

Sep 30, 2023

Next Earnings Date

n/a

Earnings per share (EPS)-0.69
Gross Margin0.00%
Net Profit Margin0.00%
Debt/Equity Ratio-9.7%

How did DWAC perform over the long term?

See historical performance and comparison

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/03/25 21:47
End of Day Share Price 2024/03/25 00:00
Earnings2023/09/30
Annual Earnings2022/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

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Analyst Sources

Digital World Acquisition Corp. is covered by 0 analysts. 0 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.