Trump’s ultimate goal is to confront the major American technology companies, because those major technology companies defied the First Amendment and rejected the 45th President of the United States. Experts disagree on how strong Trump Media and Technology Group can become competitors, but the stock market has responded positively.
Some investors have not waited. They have all joined before Trump Media’s challenge to Facebook, Twitter, and even Disney and other companies’ plans can truly become a reality.
TMTG’s plan is to merge with Digital World Acquisition Corp. to become a public company whose sole purpose is to acquire a private company and make it public. Digital World’s acquisition of the company’s share price quadrupled on Thursday, and some people may think this is a testament to Trump, although there is still a long way to go before the merger is completed.
Amateur investor Ryan Keenan said: “I’m not a Trump supporter personally, but this may lead to a huge media presence, which has risen very ridiculously.” He invested $2,000 in the stock early on Thursday morning, and by the afternoon It has tripled.
Ever since Trump was banned from using Twitter and Facebook, he has been talking about launching his own social media site. He said in a statement on Wednesday: “We live in a world where the Taliban have a huge influence on Twitter, but your favorite US president has been suppressed. This is unacceptable.”
Conservative voices actually perform well on traditional social media. According to a daily list compiled by a technology columnist and an Internet research professor in the New York Times using F Facebook’s own data, on Wednesday, half of Facebook’s top 10 link posts came from conservative media, Commentator or politician.
TMTG did not look down. In addition to the Truth Social application, which is expected to be trial-run next month, the company also said that it is planning to launch a video-on-demand service called TMTG+ that will provide entertainment, news and podcasts.
A picture on the TMTG website shows that their potential competitors are Facebook and Twitter, Netflix and Disney+, and CNN. In the long run, TMTG will become a force in the field of cloud computing and payment, and hints that it will compete head-on with Amazon, Microsoft, Google and Stripe.
Alexandra Cirone, assistant professor of political science at Cornell University, said: “This site is most likely to succeed in targeting far-right users, that is, those who leave Facebook and choose social networks such as Gab or Parler.
She also said that Trump’s new media can also compete for viewers on conservative networks, such as OANN, Newsmax and Fox News.
Ali Mogharabi, a senior equity analyst in charge of Twitter, Facebook, and other social media companies at Morningstar, said that compared to other new social media sites competing with Facebook and other big companies, Chuan Pu’s brand can initially give TMTG an advantage, but “in the long run, it is uncertain whether this will continue.”
He also said that next year’s midterm elections may play a key role in the success of social media platforms. “A lot of Trump supporters may go there. This is especially true in 2024, if Trump really decides to run for president. In the future, it can actually attract more users.”
Currently, this transaction is attracting stock traders. Digital World’s acquisition of the company’s stock soared by US$35.34, or 357%, to US$45.50, with a turnover rate of more than 475.8 million. In comparison, Twitter’s average trading volume is 11.2 million shares, at a transaction price of approximately $65.
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