Shares of the special purpose acquisition company that plans to publicly list former U.S. President Donald Trump's new social media business leapt up last week, but two equities analysts say they don't share online day traders' high hopes for the venture
Greene bought shares worth between $15,001 and $50,000 on Oct. 22, the day they rose in value by as much as 1,650% from what they were worth before the deal, as amateur traders and Trump supporters snapped them up, according to a regulatory filing published on Wednesday., have given up most of their gains since Greene invested on Friday.
Digital World shares were up 73% on Thursday afternoon since the deal announcement, giving Trump's company, Trump Media & Technology Group, a valuation of about $6.3 billion. The company's social media app has not yet launched even on a trial basis, yet it has big ambitions given Trump's previous social media following.
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