How to buy Trump's Social Media stock
While social media platforms were once open and free to use, today they have increased restrictions and have started banning users from their platforms under the loosely created guise of “violation of terms and conditions.” Truth Social is a new social media platform that promises to provide users with the sovereignty the social media Goliaths once offered. It is being spearheaded by former President Donald Trump with all of the star power, media attention, and funding to allow it to compete with the likes of Facebook, Twitter, Instagram, and even Twitch.
How to buy Truth Social Media stock?
To buy Truth Social stock, the interested investor will likely have to wait for the company to start trading in a stock market, under the ticker symbol "TMTG.". Once TMTG goes public, you'll need a brokerage account to invest. If you don’t already have a brokerage account, you’ll need to set one up before you start trading. Consider opening a brokerage account today so you're ready as soon as the stock hits the market.
So, while you wait for it to become publicly traded, you can purchase stock from Digital World Acquisition Group (NASDAQ: DWAC) due to its merger with Trump Media & Technology. When the transaction is complete, the DWAC ticker will change to TMTG ticker.
Right now, you can buy Digital World Acq stock through any stockbroker and it trades on NASDAQ under the symbol NASDAQ: DWAC. Today, most brokerage firms offer a no-commission trade, including big names like eToro, Robinhood, Merrill Edge, E*TRADE, TD Ameritrade and Charles Schwab.
Is Truth Social stock a buy now?
DWAC stock is at an exorbitantly high valuation, especially considering its potential earnings and dilution issues. The $3 billion valuation will be 26 times 2023 projected revenue of $114 million. This is way too high for a company that has yet to prove it will have any revenue after the merger closes.
It's difficult and maybe too soon to say if Trump Media & Technology Group a buy or sell now. There are no concrete methods by which to price stocks. Analysts can be inaccurate with even the steadiest, most established names. Howeve, based on 18 analysts offering recommendations for DWAC in the last 3 months, the overall consensus is Buy. There are currently 1 (6%) sell rating, 7 (39%) hold ratings and 10 (56%) buy ratings for the stock.
