Fans of the former US president are stirring each other through social media to buy a stake in Digital World/Trump Media & Technology.
The Dow closed 0.2 percent higher on Friday in a record position. On the other hand, the Nasdaq fell by 0.8 percent. Nasdaq’s bad mood had a lot to do with social media stocks’ plunge After a Snap Warning
. The share fell by at least a quarter.
Trump stole the show for the second day in a row. Shares on a blank check of Digital World Company
It closed up 107 percent at $94. This has to do with the announced acquisition of Trump Media & Technology. The new Trump company will not operate until the first quarter of 2022. The intent is to make To start a new social medium called Truth Social. However, the market capitalization of the center is not less than $3.8 billion.
Shares are up more than 800 percent since news of the acquisition was announced on Thursday. No less than 12 times trading stopped on Friday due to extreme volatility.
Through niche social media channels like Reddit and StockTwits, Trump fans are inciting each other to buy shares. On the Fidelity platform, spac was the most-bought stock on Thursday with 55,000 buy orders.
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