How to buy tmtg stock: Steps to Buy Truth Social TMTG Stock

How to buy tmtg stock

The investor may then open a trading account, such as a standard brokerage account or a retirement account like an IRA. When considering the purchase of stock, an investor should keep in mind their investment objectives, time horizon, and risk tolerance. For example, a swing trader may be interested in short-term momentum potential, while a long-term investor may care more about strong fundamentals.

How to buy tmtg stock

The eccentric executive has now purchased the company for the originally-agreed $54.20 per share. In an investor presentation the firm estimated it will have 16 million users and 800,000 monetizable users on Truth Social in 2022. SPACs are set up as vehicles for eventual mergers with a business in a specific industry that it targets as it seeks to combine with an operating company, but it is not obligated to pursue a target in the identified industry. A SPAC doesn’t usually state the specific company it has chosen to merge with and may be prohibited from doing so by SEC rules on SPACs.

TMTG & DWAC Merger

Trump Media & Technology Group’s goal is to create a rival to the liberal media consortium and fight back against Silicon Valley’s “Big Tech” companies, which have used their unilateral power to silence opposition voices. Given the company has yet to fully rollout a product, this is a totally speculative play. It is a bet that the firm will be able to turn its hype into earnings performance.

Truth Social launched for Apple IOS users in the USA on February 21, 2022, quickly moving to number 1 position on the app store’s ‘Top Charts’. According to AppTopia’s data, Truth Social was recieved 170,000 downloads the first day it was listed on Apple’s app store. Digital World Acquisition Corporation completed its IPO in September 2021, with a single share priced at $10. As DWAC is currently the publicly traded entity, you can access the DWAC’s SEC filings here. All of the trading in DWAC shares is based on speculation regarding the timing of the closing of the merger.

  • Trading accounts can be opened with a discount brokerage company or a full service broker.
  • Truth Social was down altogether for a 12-hour period, and has received less than stellar press from the mainstream media.
  • The fact that Elon Musk, one of the world’s most feted entrepreneurs, has now bought Twitter makes the road ahead for Truth Social even more challenging.

The company has said in prospectuses that it did not have “substantive discussions, directly or indirectly, with any business combination target.” He reinstated the former president’s account on Nov. 20 after a public vote. The Twitter poll, which received more than 15 million responses, saw 51.8% vote in favor of Trump’s return. In April last year the tech billionaire reached a deal to acquire the company for 54.20 a share. After trying to back out of the deal he changed course earlier in October. But, after multiple delays, the stock got a boost after the key shareholder vote finally went in the company’s favor.

In addition, he said that the acquisition target is a shell that brings no assets to the bargain. Trump Media and Technology Group is in the early stages of its life span and is not yet listed on the stock exchange. However, when the potential SPAC deal was announced, DWAC shares gained almost 20%. Investors wanting to buy shares of TMTG stock can follow the same process as buying any stock, which begins with the selection of a brokerage firm.

Once you decide on the number of shares or the dollar amount you’d like to purchase, you can place your order. If you’re working with an advisor, tell them you’d like to buy DWAC stock and how much you can invest, and they’ll do it for you. If you’re using a brokerage account, simply log in and enter the ticker, DWAC in the search bar. DWAC became a publicly-traded company through an IPO in September 2021, listing 25 million shares at an initial price of $10. While Truth Social is currently Trump Media’s most visible property, the social media app looks unlikely to be the company’s main economic driver in the longer term.

What is a SPAC?

With Truth Social stock not available for the time being, retail traders may want to buy shares in other social media companies. If you’re convinced that the social media company founded by former President Donald Trump will be the next phone app to really pop, there are ways you can back it indirectly. However, in an article from John Rekenthaler at Morningstar titled “Want to Lose Money? Buy the Trump- Linked SPAC,” Rekenthaler states the odds are stacked against potential shareholders because private investment in public equity (PIPE) investors received significantly more favorable terms than average investors.

The best place to start your research on a stock is its public filings with the SEC. Fortunately, you can access DWAC’s SEC filings easily through its website. This includes quarterly and annual reports, a code of ethics, as well as recent press releases. Access to the financial markets is easy and inexpensive, thanks to various online brokers. However, choosing the right broker optimized for your needs (investing goals, educational tools, trading style) is paramount for a successful trading experience. Yes, in theory there’s a simple way for users to indirectly back Truth Social – by acquiring DWAC stock.

How to buy tmtg stock

If the planned merger with DWAC is completed, Trump Media and Technology Group become a publicly-traded stock listed on a stock exchange under the symbol, TMTG. The shareholders of the DWAC SPAC may sell their shares for cash and they are also free to hold on to new shares of the acquired company, TMTG. DWAC became a publicly traded company in September 2021, and its stock is available on the NASDAQ exchange under DWAC, which means you can buy shares of DWAC through your brokerage account. DWAC is a special purpose acquisition company or SPAC created to provide initial funding for Trump Media Technology Group (TMTG) and eventually take them public. If the merger (postponed to September 23, 2023) goes as intended, all DWAC investors will become shareholders of TMTG. TMTG will become the publicly traded entity upon merger completion, also known as de-SPAC, with DWAC.

Step 2: Decide how many shares you want.

Monitoring news surrounding the merger is paramount as the success of the Trump Media Technology Group immensely influences the DWAC stock. If the merger goes through, DWAC shareholders will become shareholders of TMTG, giving them a direct stake in Trump’s media company. However, DWAC’s stock price would likely tumble if the merger falls through or is delayed. After a merger is completed, investors in the SPAC can choose to convert their shares into shares of the newly merged company.

He also highlighted the possibility of ‘building out our own platform in the near future’. World-Wire provides quality informational content on politics, current events and current affairs from USA and around the globe. TMTG+ will feature ‘non-woke’ entertainment programming with mainstream appeal including news, movies, TV series, sporting events, documentaries, podcasts and more.

  • On October 20, DWAC announced it would merge with Trump Media and Technology Group.
  • So is DWAC a buy now as Trump faces more legal issues over alleged payments to Stormy Daniels?
  • It has seen its Relative Strength Rating plunge to 10 out of 99, which puts it in the bottom 10% of stocks in terms of market performance over the past 12 months.
  • As well as Truth Social, Trump Media intends to launch an on-demand streaming platform (TMTG+).
  • Trump pleaded not guilty to 34 felony counts of falsifying business records at a criminal court in in Manhattan April 4.

However, if the SPAC acquisition completes, the stock will be available for purchase. The Truth Social app is said to be the first of several markets the company will attempt to expand into. Other services include a subscription video-on-demand service called TMTG+ that will include entertainment, news and podcasts. Finally, according to its website, the company wants to launch a podcast network.

On October 20, DWAC announced it would merge with Trump Media and Technology Group. In contrast, Joseph Nograles from InvestorPlace has a bullish stance on the stock and SPAC merger. The writer believes Trump’s influence within his conservative base will be essential to helping him build a successful platform. Furthermore, Nograles said it will also enable him to monetize the platform better than competitors. So, now that we’re familiar with DWAC and how to buy its stock, let’s explore both the pros and cons of investing in it. After you’ve done your research and determined that DWAC stock is the right choice for you, you’ll need to decide how much you want to invest.

A federal grand jury in the Southern District of New York is seeking more details on its merger deal with Trump Media & Technology Group. DWAC stock surged the day after the indictment was announced, helping the stock move back toward its 50-day moving average. Trump, one of two Republican candidates officially running for president in 2024, said in a Truth Social statement that the indictment is “political persecution” and “election interference.” This is first time in history a former U.S. president has faced criminal charges. Trump pleaded not guilty to 34 felony counts of falsifying business records at a criminal court in in Manhattan April 4.

The fact that Elon Musk, one of the world’s most feted entrepreneurs, has now bought Twitter makes the road ahead for Truth Social even more challenging. Firms that went public via mergers with special purpose acquisition companies have struggled so far in 2022. Donald Trump is one of the world’s most famous businessmen, but his companies have usually been privately held. Now investors have the chance to throw their lot in with the former president of the United States through Digital World Acquisition (DWAC). But Truth Social has a tough task ahead to compete with a Twitter now owned by Tesla (TSLA) CEO Elon Musk.

It has seen its Relative Strength Rating plunge to 10 out of 99, which puts it in the bottom 10% of stocks in terms of market performance over the past 12 months. In a June 27 filing, DWAC said the subpoenas, as well as investigations from the Justice Department and the SEC, risk slowing or squashing the merger deal altogether. Trump has consistently committed himself to his own site, which is important to the future of his own product given he is a massive social media draw.

But the CAN SLIM cognoscenti look for stocks that boast consistent earnings growth. A grand jury voted to indict Trump March 30 after hearing evidence he allegedly paid hush-money to porn star Stormy Daniels during the 2016 election. But according to DWAC filings, the investigations were launched by the SEC and FINRA before Warren submitted her request. After previously speaking about the possibility of the former president rejoining his platform, Elon Musk has opened the way for Trump to return to the platform. Meanwhile, Katherine Chiles has been named as the firm’s new chief financial officer.