Donald Trump Is Having a Great Day. Media Stock Soars as Court Offers Lifeline.

Last week’s approval of the merger between the SPAC, Digital World Acquisition Corp. and Trump Media & Technolog means it is only a matter of time before the DWAC shares trading on the Nasdaq will convert to DJT stock. Shares of DWAC tumbled nearly 14% Friday after shareholders gave their blessing to the deal. It has surged a bit more than 130% so far this year as investors have latched on to the stock despite Trump Media & Technology Group’s brief history of unprofitability.