After Digital World Acquisition Corp. (NASDAQ:DWAC) stock rallied further and the Truth Social app experienced widespread technical issues during its public debut, it may be a good time for investors to take some profits on DWAC stock.
On the valuation front, the shares are getting a bit expensive at this point. And if the app’s technical issues aren’t fixed within several weeks, I fear that Digital World’s shares could sink significantly.
Digital World has agreed to merge with Trump Media and Technology Group (TMTG), which was founded by Former President Donald Trump. TMTG owns the Truth Social app.
Valuation Is Now an Issue for DWAC Stock
As I noted in my previous article on DWAC stock, “The Asian Investor, a Seeking Alpha columnist, estimated that the market value of DWAC stock was $2 billion, based on a share price of about…