Digital World Acquisition Corp (DWAC) Stock Price Prediction & Forecast 2023, 2025, 2030, 2040

Digital World Acquisition Corp is a special-purpose acquisition company (SPAC). For those unfamiliar with the term, SPACs are essentially shell corporations that have a primary objective: to help companies go public without the intricacies and prolonged timelines associated with the traditional IPO process.

One of the most significant events in DWAC’s timeline is its association with Trump Media & Technology Group (TMTG). Founded by the former U.S. president, Donald Trump, in 2021, TMTG is a media and technology entity aiming to make a mark in the American digital landscape. In October of the same year, a merger agreement was announced between TMTG and DWAC. This merger, once finalized, would catapult TMTG into the public trading arena.

As of April 2023, Donald Trump holds a commanding ownership of TMTG, with a stake of about 90%. Steering the ship is Devin Nunes, who took the reins as the company’s CEO in January 2022. Under his leadership, TMTG introduced its social networking platform, Truth Social, in February 2022.

No discussion about DWAC would be complete without addressing the controversies surrounding its associations. ARC Capital, a Shanghai-based firm instrumental in DWAC’s creation, has been under the SEC scanner for allegations related to misrepresenting shell corporations. Furthermore, in 2021, there were murmurs about DWAC’s association with China Yunhong Holdings, a company based in Wuhan, Hubei. While these ties were promised to be severed by December 2021, they did add to the intrigue surrounding DWAC.

Fast forward to August 2023, and the much-anticipated merger between TMTG and DWAC is still in the pipeline. However, there’s a glimmer of hope for those eagerly waiting, as DWAC has managed to secure shareholder approval for extensions to finalize the deal. The new deadline? September 8, 2023.