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Digital World Acquisition Corp. (DWAC) will soon become Trump Media and Technology Group (TMTG)

Many will choose not to buy Digital World Acquisition Corp. (DWAC) SPAC because of their feelings about Donald J. Trump. I will caution those readers that I have seen political views cost investors a lot of money over the 32 years I invested. The winning strategy is always to follow price and volume in the stock market. Opinions will lose opportunities and money every time.

The market doesn’t care about my opinion or yours. Currently, Digital World Acquisition Corp is one of the best-looking charts in the market. The amount of accumulation this stock shows as it completes a textbook inverted head and shoulders pattern is staggering. Only nine institutions own the stock. The rest of the buying comes from retail investors and indicates that it is very under-owned.

When I see charts like this, they have the potential to be the biggest winners of the year.

Digital World Acquisition Corp. (DWAC) will soon become Trump Media and Technology Group (TMTG) and roll out Truth Social. Truth Social will offer direct competition to Twitter. As an internet content provider, it is about eyeballs and advertising. Trump had 150 million followers across various social media platforms. Many of these followers are likely to sign up for Truth Social. The numbers could add up to a successful launch.

Digital World sprinted higher by 1643% in two trading days when the merger was announced. No other SPAC has ever rewarded investors like this. Since the announcement, DWAC has put in a very constructive base. As we approach the conversion date and the rollout of Truth Social, it appears the stock wants to break out once again.

Moving higher into the merger completion is not unusual for SPACs with a successful merger announcement. In the three weeks leading into the merger completion of DraftKings Inc. (DKNG), the stock went 90% higher. Seven weeks after the merger, it was up an additional 116%. Other successful SPACs like Virgin Galactic Holdings (SPCE) offered similar rewards over the same period.

The SPAC conversion of Digital World Acquisition (DWAC) to Trump Media and Technology Group (TMTG) might do the same.

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