He took the initiative to allow the general public to express their political opinions. The platform is currently only available in the United States. Still, many people wonder if it is a profitable investment. So, let us delve deeper into the heart of this business.
What is Truth Social?
Donald Trump, the former president of the United States, is the founder of Truth Social. On October 20, 2021, he launched the app. Trump’s own company, Trump Media & Technology Group, took charge of the project, so he didn’t have to look far.
He developed his app to stand against “Tech Giants.” He feels they have silenced the word of the general public. With such statements, Trump targeted social networking platforms like YouTube, Twitter, and Facebook. These social platforms banned Trump after the Capitol attacks.
The app allows for uncensored political views from the general public. Truth Social is a direct competitor to Parler and Gab.
By September 2022, it had attracted 1.7 million new visitors to the United States! Many people oppose Trump and his political ideology. Yet, everyone appreciates a platform where they can express themselves. Social Truth is available for both iOS and Android users.
How to Create an Account on Truth Social?
- Open your app store or play store;
- Ensure you have a stable wifi connection;
- Type Truth Social in the search bar and tap on the magnifying glass sign to begin the search;
- Your app store or play store will ask for your account details;
- Enter the password and continue with the downloading process;
- Once the application has been downloaded, it will take you to a page asking you to log in or create a new account;
- You will be asked about your date of birth (Only people above the age of eighteen can access the application);
- Enter a new password and email;
- A verification mail will be sent to you at the email address you enter;
- Once you verify the email, you can enter a username for your profile and enjoy the platform.
Additionally, the applications are, at times, put on hold. Many users are waiting on a “waitlist.” The app assigns users a waitlist number.
Who Owns Truth Social Stock?
Donald Trump owns Trump Media Technology Group. This group regularly owns and operates Truth Social, making Donald Trump its owner. Devin Nunes is the media venture’s CEO.
Trump expressed reservations about Truth Social’s transition from a private to a public company. However, he wants it to happen through a Special Purpose Acquisition Company called Digital World Acquisition Corp.
Before engaging in a merger, DWAC must first raise some capital. Truth Social would also have to forego an initial public offering and merge with DWAC under this strategy.
Can You Buy Truth Social Stock?
It is a private company owned by the Trump Media Technology Group. Therefore, investors can only buy Truth Social stocks once the company decides to go public officially.
How to Buy Truth Social Stock?
Since Truth Social has not become a public company, investors cannot purchase shares in the social media venture. However, Digital World Acquisition Corp can be bought.
Many people are surprised that once Truth Social and DWAC merge, DWAC stocks will become Truth Social stocks. Truth Social stocks can thus be bought and sold similarly to other public entity stocks.
Furthermore, because Truth Social works with a Special Purpose Acquisition Company, it will not be able to float shares in an initial public offering like other companies. If you want to invest in Truth Social, you should buy DWAC stock and wait for the merger.
Truth Social Stock Symbol and Stock Price
Firms get their stock symbols from their parent companies, as everyone expects. Trump Media Technology Group is the parent company in this case.
When the company goes public following its merger with DWAC, the symbol will change from DWAC’s ticket to TMTG.
You can then buy TMTG stocks regularly. But what will the stock price be? We can’t say for sure, but we can tell you what to expect.
SPACs will trade for around $10 per share if you look closely. However, because of former President Trump’s involvement and the scandal that led to the app’s creation, Truth Social has already become the center of attention. Of course, the platform itself gives people a lot of power.
The per-share price of DWAC remains at $30, which is also the price we should expect for TMTG shares when the company goes public. Keep in mind that this is an estimate; any changes or delays in mergers may cause these projected share prices to change.
Is Social Truth a Lucrative Investment?
Because of Trump’s popularity, Truth Social has piqued the interest of people all over the world. As soon as the app was released in 2020, many people began downloading it, and it quickly became the most downloaded app, with millions of users.
Since Trump appears to be a regular participant on Truth Social, many new users are tuning in to see Trump’s views on politics and the global crisis.
The apparent lack of speed in the merger and differences in financial matters with DWAC has caused many investors to question whether it is a profitable investment; however, Trump is said to have big plans for Truth Social in the coming years.
The average revenue per user is expected to skyrocket to $13.5, with an increase of 8 million followers. Given these anticipated changes, Truth Social could be lucrative for many, providing high returns on investment.
Alternative Investment Options
If you’re still on the fence about investing in Truth Social or want to go public immediately, here are a few other options to consider.
- Meta Platforms Inc., also known as Facebook. Yes, Meta Platforms is the new name for Facebook, the market leader. Facebook has 3 billion active users, and Meta Platforms Inc owns popular apps like Instagram and Whatsapp.
- Snap Inc. owns the popular app Snapchat, which allows users to post stories and images to tell their stories for 24 hours.