Investing
Love Him or Hate Him, Retail Traders Are Buying the Trump-Tied SPAC
The potential for profits is making investors look past the former president’s polarizing politics and cash in on a skyrocketing blank-check company.
Photographer: Chris Delmas/AFP/Getty Images
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Retail traders are putting aside politics for profits when it comes to former U.S. President Donald Trump.
Popular haunts of individual investors such as Reddit and StockTwits lit up this week with news that blank-check company Digital World Acquisition Corp. will merge with Trump Media & Technology Group. The SPAC, which trades under the ticker DWAC, had rocketed up more than 1,200% since Wednesday, with outsize volatility triggering at least 12 trading halts on Friday.