Digital World Acquisition Corp stock skyrockets 1000%+ thanks to Trump

If you purchased Digital World Acquisition Corp. (DWAC) a week ago... hell, just a couple of days ago, you'd be laughing all the way to the bank right now.

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President Donald J. Trump announced his new social media company, TRUTH Social, in the last 24 hours or so, and was announced that Trump Media & Technology Group and Digital World Acquisition Corp. have entered into a definitive merger agreement that makes TMTG into a publicly listed company, subject to regulatory and stockholder approval.

Between then and now, just 24 hours or so, Digital World Acquisition Corp. stock has skyrocketed from around $10 or so, through to a huge $105 representing an increase of 1000% or more. We're talking crazy manic meme-level crypto gains, but in the "real-world" of stock trading. DWAC stock skyrocketed 357% just today, which is crazy.

• Read more: President Trump launches social network, called TRUTH Social

President Donald Trump explained when he unveiled TRUTH Social: "I created Truth Social and TMTG to stand up to the tyranny of Big Tech. 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. 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".

"The transaction values Trump Media & Technology Group at an initial enterprise value of $875 Million, with a potential additional earnout of $825 Million in additional shares (at the valuation they are granted) for a cumulative valuation of up to $1.7 Billion depending on the performance of the stock price post-business combination".