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Donald Trump: TRUTH Social can compete with Big Tech

Feb. 08, 2022 11:01 AM ETDigital World Acquisition Corp. (DWAC) By: Brian Stewart

Former President Donald Trump said Tuesday that his TRUTH Social media venture, which is set to come public via a SPAC deal with Digital World Acquisition (NASDAQ:DWAC), can compete with Big Tech rivals in the social media space.

"I certainly think so. And we're not reliant on them. And this country needs a voice," Trump told Fox Business News when asked if his new social media venture can stack up against established players in the industry.

TRUTH Social is currently slated to launch at the end of March, more than a month after a previously reported start date on Feb. 21.

TRUTH is part of a new media venture fronted by the former president, called Trump Media & Technology. The company announced a deal with DWAC in October to come public.

Trump Media and Technology CEO Devin Nunes reported that ramping up the network has been difficult, as the company has looked to build an infrastructure not reliant on Big Tech, eschewing platforms like Amazon's AWS.

Asked whether he planned to mount another run for president in 2024, Trump didn't answer the question directly but left open the possibility for another campaign.

"Well, the poll say I should," he said.

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Bet on Digital World Acquisition Because Trump Can’t Lose

Josh Enomoto - Yesterday 10:00 AM

https://www.msn.com/en-us/news/politics/bet-on-digital-world-acquisition-because-trump-can-e2-80-99t-lose/ar-AATyCOK

There will never be a president like President Donald J. Trump. Love him or hate him, he is the embodiment of the American soul — bold, brash and will stomp you on your face if you ask too many stupid questions.

People truly love Trump. He has what I would call the Kiyosaki factor but multiplied by 10. In fact, Trump and Robert Kiyosaki even wrote a book together.

Most importantly, Trump’s messaging probably resonates a lot deeper than you might think.

You may not hear too much vocal support for Trump in public arenas, but you can absolutely bet that the “silent majority” will be much louder if their “wrong” opinions wouldn’t get them fired.

Perhaps that’s the irony of DWAC stock. The man behind the underlying social-media-focused special purpose acquisition company who garnered a reputation for firing people ignominiously is now graciously extending a seat in the boardroom for disenfranchised Americans. And by disenfranchised Americans, I mean — who else? — white folks.

7 Hot Stocks That Can Win in Either a Bull or Bear Market

“In fact, in New York state, if you’re white, you have to go to the back of the line to get medical help,” Trump stated at an Arizona rally, alleging racial discrimination regarding the distribution of coronavirus therapeutics.

Never mind that this was a bad-faith argument: it’s a powerful catalyst.

DWAC Stock is Unstoppable

Recently, my InvestorPlace colleague Chris Markoch had an interesting take on DWAC stock. Essentially, one of his arguments was that an objective analysis on news agencies will reveal certain political persuasions.

Markoch stated that Truth Social, the underlying social media platform that will become publicly tradable presuming a successful business combination, may enjoy a robust audience base.

I don’t doubt that sentiment for a second. Frankly, DWAC stock may be unstoppable.

As I said earlier, Trump’s messaging probably resonates far deeper (and wider and longer) than you think. You have to look to the poll beyond the poll.

For instance, few people when asked will admit to discriminatory feelings. So, it’s really difficult to gauge how Americans truly feel about hot-button issues such as race.

My best guess is that Trump is so popular because he takes the simple, anachronistically masculine approach to complex social problems.

Terrorism? Ban scapegoated people.

Immigration issues? Build the wall.

The Best Investment Ever…and Everybody Knows It!

Some critics may point out that I’m basing my bullishness for DWAC stock on unsubstantiated evidence. I’ll freely admit that I don’t have the smoking gun to suggest that Trump is more popular than the polls suggest.

But then, you look at DWAC stock itself. At a time when the S&P 500 is down nearly 7% for the year, the Trump SPAC is up 57%.

Here’s the thing: SPACs stink and I would know. Through my Benzinga columns focusing on initial public offerings, I’ve covered more SPACs than you’ve probably changed underwear.

Time and again, post-business combination, these bad boys tend to nosedive, mainly due to their dilutive profile as Harvard Law School pointed out.

You know, Trump is a bombastic character, but if he were to say that DWAC stock is the best investment ever, I would be hard-pressed to disagree.

He has changed American politics in a way that no one — and I truly mean no one — could have ever imagined.

Ignore him and his SPAC all you want. You as an American have that right. However, you also might be a little bit poorer off for it.

On the date of publication, Josh Enomoto did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

A former senior business analyst for Sony Electronics, Josh Enomoto has helped broker major contracts with Fortune Global 500 companies. Over the past several years, he has delivered unique, critical insights for the investment markets, as well as various other industries including legal, construction management, and healthcare.

Anonymous ID: 7c6e15 Feb. 8, 2022, 10 a.m. No.15578046 🗄️.is 🔗kun >>8511

Why Digital World Acquisition Stock Skyrocketed 42.1% in January and Continues to Climb

The Trump-backed SPAC overcame market turbulence and delivered huge gains.

Keith Noonan(TMFNoons)

Feb 7, 2022 at 9:56AM

Key Points

Excitement for Trump Media & Technology Group's upcoming Truth Social platform powered big gains for the stock.

Motley Fool Issues Rare “All In” Buy Alert

What happened

Shares of Digital World Acquisition (NASDAQ:DWAC) managed to post big gains in January despite big sell-offs hitting the broader market. The Donald Trump-backed special purpose acquisition company (SPAC) saw its share price climb 42.1% in the month, according to data from S&P Global Market Intelligence.

DWAC Chart

DWAC data by YCharts.

Digital World Acquisition is set to take Trump Media & Technology Group (TMTG) public through a merger, and the SPAC stock has been gaining ground amid excitement for its merger partner's upcoming social media platform. TMTG's Truth Social is being positioned as an alternative to Twitter and other top social media platforms, and signs pointing to a Presidents Day release for the new service helped spur big gains for the stock last month.

A rocket at the end of an ascending chart line.

Image source: Getty Images.

So what

Truth Social's application profile page on Apple's App Store was updated on Jan. 6 and seemed to point to the service launching on Feb. 21: Presidents Day. The update kicked off a stretch of gains for Digital World stock, and the company's share price also appears to have gotten a big lift from a rally Trump hosted in Arizona on Jan. 15. Some investors and analysts interpreted the rally as an indication that Trump plans to run for president again in 2024, and it's possible that another campaign could help spur engagement for Truth Social.

Digital World Acquisition's stock gains last month look even more impressive in the context of the big sell-offs that hit the broader market. The S&P 500 closed out January down 5.3%, and the even more tech-heavy Nasdaq Composite index ended the period down 9%.

Now what

Digital World Acquisition stock has continued to gain ground this month despite market volatility stemming from Big Tech earnings. The SPAC stock is up roughly 1.2% in February so far.

DWAC Chart

DWAC data by YCharts.

After Meta Platforms published very disappointing fourth-quarter results and guidance, Trump made statements suggesting that the social media giant was seeing users leave due to anticipation for Truth Social. With TMTG's social platform still weeks away from its expected debut, it's unlikely that the upcoming service had any material impact on Meta's performance, but anticipation for Truth Social does seem to be driving Digital World Acquisition stock higher.

The SPAC's share price could soar if Truth Social goes on to be a hit, but investors should move forward knowing there's not much visibility on the platform's outlook. As for the merger, Digital World's combination with Trump Media & Technology Group will likely be completed in the near future, and the combined companies will then operate and trade on Nasdaq under the TMTG ticker.

Rumble SPAC partner CFVI sees shares climb for second day amid Joe Rogan speculation

https://seekingalpha.com/news/3797342-rumble-spac-partner-cfvi-sees-shares-climb-for-second-day-amid-joe-rogan-speculation

Shares of SPAC CF Acquisition Corp. VI (NASDAQ:CFVI), which is slated to merge with video platform Rumble, were up 6% Tuesday morning amid ongoing speculation that popular podcaster Joe Rogan might join Rumble.

CFVI shares recently changed hands at $15.95 at approximately 11:15 a.m. ET. Shares rallied on Monday on the Rogan speculation, shooting up 40% to $18.52 in afternoon trading before closing at $15.09, up 14%.

Rumble, which has been billed as an alternative to YouTube, made news Monday when its chief executive officer publicly offered Rogan a $100M contract over four years to move his show to the video platform. Rogan’s podcast is currently carried by Spotify (NYSE:SPOT).

CFVI announced in December that it planned to take Rumble public through a merger deal that valued the video platform at $2.1B. The merger is expected to close in the second quarter.

Rumble’s stock rallied in December after it announced that it had signed a deal with former President Trump’s new social media platform TRUTH Social, which is being taken public by Digital World Acquisition (NASDAQ:DWAC).

Anonymous ID: 7c6e15 Feb. 8, 2022, 10:08 a.m. No.15578115 🗄️.is 🔗kun >>8511

CFVI Stock Soars 30% as Rumble Courts Joe Rogan With Big Bucks

Samuel O'Brient, InvestorPlace

Feb. 7, 2022, 02:00 PM

https://markets.businessinsider.com/news/stocks/cfvi-stock-soars-30-as-rumble-courts-joe-rogan-with-big-bucks-1031168431

InvestorPlace - Stock Market News, Stock Advice & Trading Tips

The defining news story of February 2022 so far has been the saga of Joe Rogan and Spotify (NYSE:SPOT). Customers, musicians and politicians have gotten in on the spat, and SPOT stock is now down 25% in the year to date. As Spotify struggles to pick up the pieces, a competitor has identified a clear market opportunity. Rumble wants Rogan to join its ranks. Although nothing is official yet, this has been good news for its blank-check partner, CF Acquisition VI (NASDAQ:CFVI). CFVI stock has been trading well so far as speculation swirls.

Source: Tada Images / Shutterstock.com

What’s Happening With CFVI Stock

This morning, Rumble tweeted a photo of an offer addressed to Rogan. It made clear that the platform wanted him to join its ranks — and it didn’t care about the controversy that followed him.

Hey @joerogan, we are ready to fight alongside you. See the note from our CEO @chrispavlovski… pic.twitter.com/G7ahfNNjtP

— Rumble (@rumblevideo) February 7, 2022

While SPOT stock has fallen today, CFVI stock is rising steadily. As of this writing, it is up more than 35% on the day and shows no signs of slowing down. Shares are up more than 42% for the past month.

Why It Matters

Spotify’s crisis is truly Rumble’s opportunity. The video sharing platform wants to be the YouTube that appeals to those American conservative and libertarian thinkers who applaud its anti-censorship stance. This business model has served it well so far. Not only that, it makes it the perfect platform for Rogan.

Additionally, as the letter shows, Rumble has offered to pay up $100 million over four years for Rogan.

That should give Rogan real incentive to consider the offer. Rumble is home to many conservative thinkers. Earlier this year, an endorsement from Republican Sen. Rand Paul boosted CFVI stock. The addition of Rogan, though, could push it up much further. There’s a reason that Rumble’s leaders have offered the host so much much money. They know exactly what he could do for their platform.

What It Means

As of now, Rogan has not made any statements on the offer from Rumble. The Globe and Mail reported that Rogan once commented on Rumble in a podcast, saying that he expected the platform to keep growing.

There’s plenty of reason to believe that Rumble may soon have its own Joe Rogan experience, although, exactly what kind is unclear. If the host decides to accept the offer, CFVI stock will see significant growth in the year ahead.

On the date of publication, Samuel O’Brient did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Truth Social used the Rumble Cloud

selected information from

https://www.washingtonpost.com/technology/2022/01/10/trump-social-network-development/

"Trump Media also announced a technology and cloud services partnership with the video-hosting start-up Rumble in December. Rumble, which aims to be a right-wing alternative to YouTube, has received funding from GOP Senate candidate and venture capitalist J.D. Vance, venture capitalist Peter Thiel and Colt Ventures, which describes itself as the family office of Darren Blanton, a Dallas-based investor and prominent Trump supporter.

In announcing the partnership, Trump Media said it had “already launched Truth Social on the Rumble Cloud for invited guests only, and the initial Beta launch has been excellent,” according to the news release."

Cathie Wood Dumps $142 Million of Twitter Stock Before Earnings

Abhishek Vishnoi - Yesterday 11:51 PM

(Bloomberg) – Cathie Wood stepped up selling of social media platform Twitter Inc. shares days before its earnings.

Wood’s firm ARK Investment Management LLC sold nearly 4 million Twitter shares on Monday, the most in one day since at least May, according to trading data from ARK compiled by Bloomberg. The social-media company is set to announce its earnings on Thursday.

Wood’s flagship ARK Innovation ETF dumped 3.66 million shares of Twitter on Monday, while the ARK Next Generation Internet ETF sold more than 280,000 shares, according to the asset manager’s daily trading updates. That amounted to about $142 million based on Monday’s closing level.

The selling comes amid a mixed set of results from its social-media peers. Facebook’s parent Meta Platforms Inc. suffered biggest one-day crash in stock-market history last week as its user base stopped growing while Snap Inc. jumped most ever after giving a quarterly sales forecast that topped Wall Street’s projections.

ARK has been selling Twitter shares almost every week since late December and its sales have picked up pace this month. Apart from Monday, ARK sold more than 2 million shares of Twitter on Feb. 3 and more than 700,000 shares on Feb. 2.

TWITTER IS LOSER

https://finance.yahoo.com/quote/twtr/

10 year: LOSS

5 year: gain

1 year: : LOSS

6 month: LOSS

1 month: LOSS

5 day: LOSS

1 day: LOSS

AT&T (T) IS LOSER

https://finance.yahoo.com/quote/T/

5 year: LOSS

1 year: LOSS

6 month: LOSS

1 month: LOSS

5 day: LOSS

Trump Targets AT&T in Retaliation for DirecTV Dropping San Diego’s OAN

by Ken Stone January 16, 2022

https://timesofsandiego.com/business/2022/01/16/trump-targets-att-in-retaliation-for-directv-dropping-san-diegos-oan/

Former President Trump — speaking at a rally Saturday in Florence, Arizona — said San Diego-based OAN is being dropped by DirecTV because of politics and urged his supporters to think twice about using parent AT&T’s services.

“Maybe what we should do is not use AT&T,” he said at the event attended by OAN founder Robert Herring Sr. and son Charles Herring, the network’s president — whom Trump called “patriots” and “great, great men.”

“All I can tell you is the people that are telling the truth in America like One America News are being threatened,” Trump said. “I love One America News … (and) I watch it all the time.”

He said OAN has done a great job, but the “woke executives — I don’t know what they’re doing; they have so much debt. AT&T is a company that’s in serious trouble.”

“If we did what they do to Republican companies, we would have no difficulty,” he said. “It seems like: Not nice. Right?”

The move Friday by America’s largest satellite provider to drop San Diego-based One America News could financially cripple the right-wing TV network known for fueling conspiracy theories about the 2020 election.

Trump alludes to One America News Network getting dropped by DirecTV and laments that the channel is "threatened" by "the woke executives" at AT&T. He goes on to suggest people should boycott AT&T. pic.twitter.com/0lho5yV0g0

— Aaron Rupar (@atrupar) January 16, 2022

The announcement by DirecTV — 70% owned by AT&T — comes three months after a Reuters investigation revealed that OAN’s founder testified that AT&T inspired him to create the network. Court testimony also showed that OAN receives nearly all of its revenue from DirecTV.

The Reuters report drew calls from some liberal groups for AT&T and DirecTV to drop OAN, a favorite of former President Donald Trump, because the network has become a key source of false claims about the election and COVID vaccinations.

The OAN website’s brief report on the “Save America” rally didn’t mention the 45th president’s attack on AT&T, saying: “Trump took aim at the Biden administration, saying few could have imagined what a disaster he would be for the country. He highlighted the record high inflation, supply chain issues, rising crime, and Biden’s failing pandemic response.”

On Thursday, President Biden said COVID conspiracy theories are putting lives at risk.

“I make a special appeal to social media companies and media outlets: Please deal with the misinformation and disinformation that’s on your shows,” Biden said. “It has to stop.”

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OAN is owned by Herring Networks, a family of conservative tech entrepreneurs. CEO Robert Herring Sr. did not respond to requests for comment by email and phone. In an interview with Reuters last year, he said his network provided an important voice.

“If I think I’m right, I just go for it,” he said.

DirecTV, with about 15 million subscribers, is by far OAN’s largest carrier. According to testimony by OAN’s accountant reviewed by Reuters, DirecTV provided 90% of the conservative network’s revenue.

“We informed Herring Networks that, following a routine internal review, we do not plan to enter into a new contract when our current agreement expires,” DirecTV said in a statement.

The OAN-DirecTV contract is set to expire in the next several months. DirecTV began airing OAN in April 2017, a deal that began shortly after OAN and AT&T settled a lawsuit over alleged oral promises during negotiations.

On Twitter, some conservatives expressed outrage that DirecTV and AT&T planned to drop OAN. “Corporate Media is crushing what little dissent remains,” tweeted former Fox Business Network host Lou Dobbs.

The pro-Trump right, however, has powerful outlets on television and online, including Fox News, the conservative cable news outlet founded by Rupert Murdoch.

Liberals cheered the news.

NAACP President Derrick Johnson called it “a victory for us and the future of democracy.”

In a statement, Johnson added: “At a time when we are seeing our rights infringed upon, OAN only seeks to create further division. … We must continually choose truth over lies and common sense over hysteria.”

…