Digital World Acquisition (NASDAQ:DWAC) is riding high on Thursday as regulators greenlight its much-anticipated merger with Trump Media & Technology Group, signaling a significant victory for the SPAC.

Following this crucial approval, Digital World Acquisition is now poised to steer the course for taking Trump Media & Technology Group public. The company is expected to announce a date for the shareholder meeting in the coming days to formalize the vote on the SPAC merger.

The journey towards this moment has been a protracted one for Digital World Acquisition, with regulatory hurdles stalling its bid to usher Trump Media & Technology Group into the public domain. The genesis of this merger plan stems from former President Donald Trump’s launch of Truth Social, an alternative social media platform that emerged in the wake of his tenure in office.

In response to the latest merger update, Trump Media & Technology Group CEO Devin Nunes expressed his commitment.

“Truth Social was created to serve as a safe harbor for free expression and to give people their voices back. Moving forward, we aim to accelerate our work to build a free speech highway outside the stifling stranglehold of Big Tech.”

Market Response to DWAC Stock

Today’s development has fueled frenzied trading of DWAC stock, with over 5 million shares exchanging hands at the time of this report. This marks a substantial surge compared to its daily average trading volume of approximately 2.7 million shares.

DWAC stock is also surging by 15.9% as of Thursday morning, propelling the company’s shares to an impressive 188% year-to-date increase.

Stay tuned for more captivating market movements!

Aside from these groundbreaking revelations, we are ready to unpack the latest market dynamics, including the unfolding stories around SoundHound AI (NASDAQ:SOUN), QuantumScape (NYSE:QS), and Coinbase (NASDAQ:COIN) stock today. Discover more at the links below!

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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.