Shares in Digital World Acquisition, the special acquisition company (SPAC) that plans to merge with former President Donald Trump’s Truth Social, fell 9% on Wednesday on fears both that the merger may not proceed and also about the prospects for the proposed alternative social media platform.
A brokerage report said: “Subscriber projections for Truth Social are based on an unreliable Politico poll, while the Truth Social streaming video on demand service is supposed to miraculously win 50% of Netflix’s US subscriber base by 2026 by streaming ‘non-woke’ entertainment without any explanation as to how it will afford billions of dollars in content.” Ouch.
