Digital World Acquisition fell 10% on Thursday after Donald Trump launched a line of $99 NFTs.
Trump has teased a “major announcement” on Wednesday that led to a spike in Digital World’s stock price.
Those gains were erased on Thursday as SPAC investors digested Trump’s NFT announcement.
Former President Donald Trump’s launch of $99 digital NFTs failed to gin up excitement among investors in the Digital World Acquisition SPAC that is seeking to merge with Trump’s Truth Social.
Shares of Digital World Acquisition initially spiked as much as 10% on Wednesday after Trump teased a “major announcement.” The stock has had a knack for rallying ahead of anticipated Trump rallies and other developments related to his 2024 re-election bid.
But Digital World stock gave up all of those gains on Thursday after the “major announcement” turned out to be the launch of the ‘Donald Trump Digital Trading Card Collection’ at a time when the crypto and NFT market has been decimated.
“These limited edition cards feature amazing ART of my Life & Career! Collect all of your favorite Trump Digital Trading Cards, very much like a baseball card, but hopefully much more exciting… Only $99 each! Would make a great Christmas gift. Don’t Wait. They will be gone, I believe, very quickly!” Trump posted on Truth Social.
Instead, investors likely wanted to hear from Trump either something related to his run for the US Presidency in 2024, or perhaps even more importantly, developments related to Truth Social and their pending merger with Digital World Acquisition.
The SPAC has so far been unable to obtain the necessary amount of shareholder votes to approve their proposed merger with Trump’s social media company and Twitter competitor. Instead, the SPAC secured enough votes to delay its merger deadline with Truth Social until September 2023.
If the SPAC fails to complete the merger by then, it will have to refund its investors $10 per share. The stock currently trades at around $20, suggesting 50% downside from current levels if the deal doesn’t go through.
Read the original article on Business Insider
SHANGHAI (Reuters) -Chinese luxury fashion conglomerate Lanvin Group, owner of the eponymous French fashion brand, said it is scouting for buys and will open new stores, after a New York SPAC listing on Thursday that raised $150 million and valued it at $1.31 billion. The amount raised is far lower than the $544 million that the group, owned by China's Fosun International, said in March it hoped to raise from the listing via a special purpose acquisition company (SPAC) set up by Primavera Capital. U.S.-listed shares of Lanvin opened about 4% higher at $10.25, nearly doubled to $20.25 in early trade, and closed about 23% down at $7.63 in what was a volatile trading day.
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Former President Trump’s digital trading cards have sold out less than 24 hours after he first announced they were available. As of Friday morning, the site selling the non-fungible tokens (NFTs) says they are sold out, and links to purchase the digital cards are no longer available. OpenSea Data, which tracks the sales and markets…
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It did not go down well.
Donald Trump, the twice-impeached former U.S. president, is hoping to rake in some cash by shilling digital NFT trading cards depicting him in various scenes and weird fantasy scenarios, including a couple of him portrayed as a “Superman”-like superhero. The NFTs cost $99 each (plus a transaction fee), available at The site says 45,000 […]
Yahoo Finance Live takes a look at former President Donald Trump's latest unveil of his line of NFT digital trading cards.
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According to data from OpenSea, the collection’s floor price is about 0.19 ETH, or $230, more than double the original mint price.
STORY: An aquarium in Berlin that was home to around 1,500 exotic fish burst early on Friday (December 16).Spilling more than 250,000 gallons of water and washing debris onto the road outside. Sea Life Berlin offered glass elevator rides through the Aquadom aquarium.And says it was the world's largest freestanding cylindrical aquarium at 46 feet tall. About 100 emergency responders rushed to the leisure complex, which also houses a hotel and a museum.Hotel guest Sandra Weeser: “Just chaos. The whole aquarium burst and what’s left is total devastation. Lots of dead fish, debris. It is quite a drama.”Two people were injured by splinters of glass. And police evacuated the hotel in the complex in case there was structural damage.The road outside was also closed. Search and rescue dogs scoured the ground floor of the building, which was too littered with debris for people to access.A spokesperson for the fire brigade said it was still unclear what had caused the aquarium to burst.It was last refurbished in 2020.They didn't comment on the fate of the fish, though police said on Twitter there had been "unbelievable maritime damage".
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The edition of 45,000 NFTs features President Trump in various costumes and poses and will be minted on Polygon.
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Over the last 24 hours, fans of ex-President Donald Trump have sat huddled in their chairs, waiting with bated breath for a supposed announcement the once tweeter-in-chief promised would blow their socks off. He posted a video to his Truth Social page showing an image of him in a kind of superhero garb, sporting pecs he most certainly does not have, as laser beams shoot from his eyes. What could this mean? What apocalypse was coming?
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