Subject: Re: Truth Social going public?
This will be interesting. Ticker DJT is probably heading to zero, similar to other DJT bankruptcies. SPACs have lost about half their market cap in the last 3 years, while the market was up over 20%.
=== links and data ===
Truth Social company completes merger, March 22, 2024
"Shareholders of Digital World Acquisition Corporation -- a special purpose acquisition company -- approved a merger with Trump Media & Technology Group, which owns Truth Social. The company can begin trading as a public company, with the stock symbol DJT on Nasdaq, as early as next week."
https://abcnews.go.com/US/trum...
We Have a Boom in Reverse Stock Splits to Keep the Ballooning Imploded Stocks Listed a While Longer: This Stuff is Just Funny, Feb 23, 2024
"Our pantheon of Imploded Stocks, which we started in the spring of 2021 as this stuff was coming apart, is full of stocks that, after imploding, did massive reverse stock splits so that the share price would go back above $1 in order to keep the shares from getting delisted. Most of them are traded on the Nasdaq. Many are SPAC or IPO creatures of the free-money-era."
https://wolfstreet.com/2024/02...
Date Count SPACs
20151230 28
20161230 32
20171229 49
20181231 67
20191231 87
20201231 211
20211231 614
20221230 525
20231229 245
20240315 212
from 20210315 to 20240315:
Screen CAGR TR
SPAC2024 -16 -40
SPAC2024_SIP -19 -46
SP500EqualWeight 7 22
https://gtr1.net/2013/?~SPAC20...
https://gtr1.net/2013/?~SP500E...
https://gtr1.net/2013/?~SPAC20...
SPACs with largest market cap 20240315:
Ticker MktCap DollarVolume Exchange Price Name
CVII 1472 3.3 NASDAQ 11 CHURCHILL CAPITAL CORP VII CL A
DWAC 1169 126.9 NASDAQ 39 DIGITAL WORLD ACQUISITION CORP CL A
CONX 825 0.0 NASDAQ 11 CONX CORP CL A CL C
SCRM 800 6.7 NASDAQ 11 SCREAMING EAGLE ACQUISITION CORP CL A
AACT 660 1.7 NYSE 11 ARES ACQUISITION CORP II CL A
SLAM 630 0.6 NASDAQ 11 SLAM CORP CL A ORDINARY SHARE
GHIX 556 0.2 NASDAQ 11 GORES HOLDINGS IX INC CL A
ALCC 553 1.7 NYSE 11 ALTC ACQUISITION CORP CL A
IVCB 387 0.6 NASDAQ 11 INVESTCORP EUROPE ACQUISITION CORP I CL A
ROSS 382 0.2 NYSE 11 ROSS ACQUISITION CORP II CL A
TWLV 380 0.1 NASDAQ 11 TWELVE SEAS INVESTMENT COMPANY II CL A
BFAC 379 0.3 NYSE 11 BATTERY FUTURE ACQUISITION CORP CL A
NFYS 373 0.6 NYSE 11 ENPHYS ACQUISITION CORP CL A
TRTL 371 0.5 NYSE 11 TORTOISEECOFIN ACQUISITION CORP III CL A
HCVI 355 0.5 NASDAQ 10 HENNESSY CAPITAL INVESTMENT CORP VI CL A
ANSC 351 1.5 NASDAQ 10 AGRICULTURE & NATURAL SOLUTIONS ACQUISITION CORP CL A
GPAC 337 0.3 NASDAQ 11 GLOBAL PARTNER ACQUISITION CORP II CL A ORDINARY SHARE
CHAA 336 0.2 NYSE MKT 11 CATCHA INVESTMENT CORP CL A
ARRW 335 0.2 NASDAQ 11 ARROWROOT ACQUISITION CORP CL A
RRAC 334 0.5 NYSE 11 RIGEL RESOURCE ACQUISITION CORP CL A
MktCap is $million
DollarVolume is 63-day average dollar volume in $million.