On the first day, the stock surged by over 50%, reaching a high of $79.38 per share, and closed up 16.10% at $57.99, with a market value of $6.58 billion. After closing up over 16% on its first day of trading, the company surged another 14% overnight to $66.22, bringing its market value to approximately $8 billion. As of the close of trading on the 28th (closed on the 29th), the company's cumulative increase in three days of backdoor listing was 24%, with a market value of $8.4 billion.

The social media company "Truth Social" founded by former US President Trump was officially launched on February 20, 2022 on the Apple App Store, with over 170000 downloads on the first day, ranking first in free app downloads on the Apple App Store. Truth Social has a page style similar to Twitter, except that the website's identification for verified accounts is a red check mark instead of Twitter's blue.

In February 2024, according to traffic statistics website SimilarWeb, Truth Social's monthly active users were estimated to be around 5 million. It is far from the mainstream social platforms in the United States, which have billions of users.

Although the number of users is not high, Trump Media&Technology Group has been active since its listing, with an initial increase of over 50% on the first day of trading, and Trump's personal book wealth has also skyrocketed. According to a rough calculation based on data reported by Shanghai Securities News, Trump's personal value has risen to about 50.3 billion yuan, making him one of Bloomberg's top 400 global billionaires for the first time.

According to data compiled by Bloomberg, SPAC: DWAC, which merged with Truth Society, is steadily rising in stock as Trump approaches the Republican presidential nomination. As of the day before the merger, DWAC's stock price surged 35.22% to $49.95 per share, marking the largest daily increase since January. In addition, SPAC linked warrants rose 26% to $23.15, the highest in two years. The stock price of DWAC has risen by about 150% this year, with an increase of over 500%.

Going public for a company is a very cautious process, usually taking several years through traditional IPO methods. The reason why the "Truth Society" platform was able to go public at lightning speed is due to the hot SPAC listing mechanism in the US capital market. In recent years, SPAC, as a listing method, has become very popular in the US capital market.

SPAC only has cash and no real estate or assets. Its main focus is on acquiring target companies that want to go public, allowing them to quickly go public for financing. The biggest feature of this mechanism is that it is "short, flat, and fast", especially suitable for small and medium-sized enterprises that want to go public quickly but are not large enough in size.

The overseas listed capital group of small and medium-sized enterprises has 15 years of mature experience in SPAC reverse mergers and acquisitions, which can help high-quality small and medium-sized enterprises quickly and smoothly enter the overseas capital market. Looking forward to cooperating with you!