In an exciting development in the world of technology and social media, Digital World Acquisition (DWAC) has experienced a remarkable surge of 165% in 2024. This surge comes as federal regulators gave the green light last month for the proposed merger between DWAC and Trump Media & Technology Group (TMTG), the tech and social media platform associated with former President Donald Trump.

However, on Wednesday, DWAC stock encountered a setback, declining by 13.6% to reach $40.19 during market action. Meanwhile, Donald Trump's journey towards becoming the Republican presidential nominee for 2024 gained momentum as he secured victories in 14 out of the 15 states that participated in the primary contests on Super Tuesday.

DWAC's ambitious plan involves taking TMTG public through a reverse merger. TMTG is the parent company of Truth Social, a conservative social media platform that emerged after Twitter (now rebranded as X) suspended Trump's account following the January 6, 2021, Capitol riot. Once the merger is finalized, the newly formed entity is expected to trade under a new ticker, possibly TMTG, on the Nasdaq.

The merger between TMTG and DWAC, which was announced in October 2021, had been delayed due to ongoing federal investigations. However, on February 14, DWAC announced that the U.S. Securities and Exchange Commission (SEC) had declared the merger's registration statement effective, thus paving the way for the proposed combination to proceed.

DWAC shareholders are now scheduled to vote on the approval of the merger on March 22. If the merger receives the green light, Donald Trump's 90% stake in TMTG could be valued at approximately $4 billion, based on the current stock price of DWAC. The value of DWAC stock is closely tied to the reputation and influence of the Donald Trump brand. Company filings suggest that potential federal charges could potentially harm the brand's image, although no such negative impact has been observed thus far.

Despite a decline of approximately 77% from its peak of 175 on October 22, 2021, following the announcement of the Trump merger deal, DWAC stock has experienced an impressive surge of 165% in 2024. This surge can largely be attributed to the anticipation surrounding TMTG's public debut and Donald Trump's positioning as the GOP's likely presidential nominee.

Investors and industry experts will closely follow the upcoming shareholder vote on March 22 and the subsequent progress of the merger between DWAC and TMTG. For more insights and coverage on this exciting development, follow Kit Norton on X, previously known as Twitter, under the handle @KitNorton.