SPAC Resurgence: In 2023, 89 SPACs have launched IPOs, marking the busiest year since 2021, following a two-year slowdown due to regulatory scrutiny and poor post-merger performance.
Market Performance: The CNBC SPAC 50 index is up 9.5% year-to-date, while the CNBC SPAC Post Deal Index has risen nearly 38%, indicating a recovery in the SPAC market alongside traditional IPOs and a bullish stock market.
Cryptocurrency Deals: Recent SPAC activity includes notable cryptocurrency-related deals, such as Trump Media & Technology Group's partnership with Crypto.com and ProCap Financial's plans to go public through a SPAC.
Market Sentiment: Analysts from Morgan Stanley have noted a potential sense of euphoria in the market due to the increase in stablecoin and reserve SPACs.
Trump Media & Technology Group Corp. (TMTG) is a social media and technology-focused company. The Company's product, Truth Social, is a social media platform where any user can create content, follow other users and engage in an open global conversation. The Company does not restrict whom a user can follow. Additionally, users can be followed by other users without requiring a reciprocal relationship, enhancing the ability of its users to reach a broad audience. Its products and services include Truth Social and Truth+. TMTG operates a TV streaming platform, Truth+, across the entire Truth Social platform-iOS, Android, and the Web. The streaming service relies on TMTG's custom-built content delivery network (CDN), which operates through a data center. TMTG's streaming technology is powered through specially designed infrastructure with its own servers, routers, and software stack. The Company is also focused on launching Truth.Fi, a financial service and FinTech brand.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
