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On Thursday, Digital World Acquisition saw a more than 400% increase in its shares. This resulted in millions of dollars for its investors.
After Donald Trump's announcement of a merger, the SPAC saw a surge in its stock price.
These are eight companies that made a killing Thursday's surge of Digital World Acquisition.
After Trump Media and Technology Group announced their merger plans, big gains were made for investors in the Digital World Acquisition SPAC.
Investors rushed to take advantage of the hype surrounding the merger with Donald Trump's social-media company, Truth Social. This is being used to compete with Facebook, Twitter, and other platforms that have banned Trump since the January 6th insurrection.
After closing at $9.96 Wednesday, shares of the SPAC hit a record $52 on Thursday. As the stock rose above its $11.50 strike price, warrants tied to Digital World increased by as much as 2,686%.
These eight companies owned shares in Digital World Acquisition before Thursday's surge, and made millions from the move according to Bloomberg data.
8. Highbridge Capital Management
Ownership of shares: 2.0 Million
Value at Thursday's Peak - $104.4 Million
Peak Paper Profits $84.3 Million
7. DE Shaw & Co
Shares owned: 2.4 Million
Value at Thursday's Peak - $126.1 Million
Peak Paper Profits: 101.8 Million
6. ATW Spac Management
Shares owned: 2.4 Million
Thursday's Peak Value: $126.1 Million
Peak Paper Profits: 101.8 Million
5. Boothbay Fund Management
Shares owned: 2.4 Million
Value at Thursday's Peak - $126.1 Million
Peak Paper Profits: 101.8 Million
4. Saba Capital Management
Shares owned: 2.4 Million
Value at Thursday's Peak - $126.1 Million
Peak Paper Profits: 101.8 Million
3. K2 Principal Fund
Shares owned: 2.4 Million
Thursday's Peak Value: $126.1 Million
Peak Paper Profits: 101.8 Million
2. Radcliffe Capital Management
Shares owned: 2.4 Million
Thursday's Peak Value: $126.1 Million
Peak Paper Profits: 101.8 Million
1. Lighthouse Investment Partners
Shares owned: 3.2 Million
Thursday's Peak Value: $168.4 Million
Peak Paper Profits $136.0 Million
*Peak Paper Profits derived from Digital World Acquisition Corp. Offer price $10 per share
