Rep. Marjorie Taylor Greene bought shares of Trump SPAC Digital World Acquisition as stock skyrocketed

Her other transactions include sales on Jan. 20, the day President Joe Biden was inaugurated.

According to her disclosure report, that day Greene sold Facebook shares worth at least $15,000, Apple shares worth at least $15,000, Amazon shares worth at least $15,000 and shares in Alphabet, which owns Google, also worth at least $15,000. 

She did not report having sold any other securities that day.

SPACs are a special type of company that have no commercial operations.

Instead, they raise funds aggressively through an initial public offering and eventually merge with a smaller company that meets the goals of the SPAC’s prospectus. Also known as “blank-check” companies, SPACs have grown popular on Wall Street in recent years as a way for both private-equity firms and the general public to invest in young companies.

On Tuesday, Trump issued a statement about the new social media app he plans to roll out as well as an on-demand video streaming service.

“To take on Big Tech censorship, we are creating a ‘Big Tent’ platform: Truth Social,” Trump said. “We are inviting people of all political stripes, and all different viewpoints, to come and participate once again in the great American debate. That’s what our country is supposed to be about.”

Trump’s plans for a social media app come months after he was banned by Twitter and Facebook for inciting the deadly Jan. 6 Capitol riot by his supporters.

— CNBC’s Christina Wilkie and Kevin Breuninger contributed to this report.

Article source: https://www.cnbc.com/2021/10/27/rep-marjorie-taylor-greene-bought-shares-of-trump-affiliated-spac-firm-dwac.html