This is not investment advice. The author has no position in any of the stocks mentioned. Wccftech.com has a disclosure and ethics policy.
The SPAC Digital World continues to act as an effective proxy for all things Trump-related, given the public entity's planned reverse merger with the Trump Media and Technology Group. Now that Republican Presidential candidate Ron DeSantis is expected to formally announce his bid for the White House in an exclusive interview with Elon Musk, the political oracles are likely to monitor gyrations in the DWAC stock to gauge broader sentiment changes.
BREAKING: @FoxNews confirms Florida Governor @RonDeSantis will announce his 2024 Presidential run tomorrow night, 6pm ET in a Twitter Spaces interview with @elonmusk.
— Bill Melugin (@BillMelugin_) May 23, 2023
Fox News correspondent Bill Melugin came out a few hours ago with the scoop that DeSantis was gearing up to announce his 2024 bid for the White House in a Twitter Space interview hosted by Elon Musk.
BREAKING: Elon Musk confirms reports that he will be holding a Twitter Space with Ron DeSantis tomorrow with “real time questions and answers” pic.twitter.com/pd3pSTyobQ
— ALX 🇺🇸 (@alx) May 23, 2023
This scoop was later confirmed by Elon Musk, who noted that the interview would be unscripted and feature "real-time questions and answers."
Bear in mind that the CEO of Tesla and Twitter had already conveyed his preference for Ron DeSantis in November 2022, inviting a biting tirade from Trump in the process, who believes Elon Musk would have complied if he had asked him to drop to his knees and beg during his visit to the White House under Trump Presidency. The fact that Musk is going out of his way to accommodate DeSantis at this juncture speaks volumes as to his political inclinations.
Whatever his faults, Elon Musk is quite influential in conservative circles right now. As such, his repeat endorsement of Ron DeSantis, even if not absolutely explicit, is not something that Trump can brush off easily.
What's more, if anyone had hopes that Trump would eventually move away from his echo chamber that is Truth Social and return to Twitter should abandon those right now.
Political pundits are likely to monitor the moves in Digital World shares today and tomorrow with particular alacrity. Should DeSantis bungle the interview, expect the stock to rally. If, however, Trump's leading Republican competitor is able to pull off a flawless interview session under the glare of the global town square, DWAC investors should expect the stock to weaken.
In another related development, the Trump Media and Technology Group has sued Washington Post for $3.78 billion in reputational damages resulting from a so-called "egregious hit piece" published on the 13th of May. Trump's media entity has taken particular umbrage with Jeffrey Epstein-related insinuations in the Washington Post article.
Meanwhile, the specter of additional indictments related to the events surrounding the 2020 Presidential elections continues to haunt Trump, with the former President already facing "34 counts of Falsifying Business Records in the First Degree," lobbed by the Manhattan district attorney, Alvin L. Bragg. The SPAC Digital World is also besieged by a litany of federal investigations related to violations of the securities law.
About the author: Writing is my one incontrovertible passion. Over the past six years, he has authored over 2,200 distinct articles on financial and tech-related topics, spanning nearly 1 million words. And he has been a member of Wcctech mobile team since 2025. As an alumnus of the University of Toronto, Rotman Commerce Program, I bring nuance, in-depth knowledge, and a unique perspective to every topic that I cover. When I'm not writing, I'm traveling the world, exploring hidden confectionaries and restaurants as an aspiring food connoisseur.
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