Just another round of "fleece the suckers"
Digital World Acquisition Corp., the SPAC that is taking former President Donald Trump’s planned social media platform public
Signs emerged that small-time retail investors could be behind the monstrous rally in the SPAC.
SPAC stands for special purpose acquisition company, which raises money on the public markets with a goal of merging with a private company and taking it public within two years. Investors typically have no clue what the target company will be when the SPAC debuts and trades on the stock exchange.
"Fueled by retail investors", of course it is, Trump minions just can't resist throwing their money away.
What do bet it comes to nothing and Trump & his cronies pocket most of it? Fox News is going to feel betrayed.
Re: Just another round of "fleece the suckers"
A lot of the hedge fund investors are bailing- saying they didn't know it would acquire a fake news site.
Although also a win-win- avoid controvery and pump and dump on the shlubs.