DWAC Stock Soars Following DeSantis's Endorsement of Trump

The surge reflects growing investor confidence in Trump-affiliated ventures as the former President strengthens his position in the 2024 Republican race.

Shares of Digital World Acquisition Corp (DWAC), the SPAC merging with former President Donald Trump's Truth Social, surged by over 88 percent following Florida Governor Ron DeSantis's exit from the 2024 presidential race and endorsement of Trump.
DWAC's stock rally reflects growing investor sentiment tied to Trump's strengthened position in the Republican presidential race.
DWAC made a step toward finalizing its merger with Trump Media & Technology Group (TMTG) by filing a Form S-4 with the Securities and Exchange Commission (SEC).
The proposed merger between DWAC and TMTG could provide the financial support needed to mitigate losses and sustain Truth Social's operations.
DWAC's stock surge could be a prelude to a more integrated relationship of politics and economics as the presidential election approaches.