Donald Trump’s Digital World Surges, Shines Spotlight on Special-Purpose Acquisition Companies (SPACs) DWAC, HNRA, ATAK, HNRC

January 24, 2024 at 07:52 AM EST

This week, specific stocks have experienced increased demand from investors, generating significant attention in the markets. This article offers a brief overview of these stocks.

Digital World Acquisition Corp. (NASDAQ: DWAC) has reemerged into the spotlight with the former U.S. President Donald Trump is competing in another potential presidential election. This development has captured the attention of investors, particularly due to Trump's special-purpose acquisition company (SPAC), Digital World Acquisition Corp. Following his recent victory in Iowa, prompting his opponent Ron DeSantis to withdraw from the race, the focus has intensified. Notably, Digital World Acquisition Corp. (NASDAQ: DWAC) is poised to take Trump's social media platform, Truth Social, public. The stock witnessed a remarkable surge of 88.36% on Monday, accompanied by heightened interest, and trading volumes exceeded the average 60-day trading volume. With Trump's campaign gaining momentum, there is growing anticipation of increased attention on Digital World Acquisition Corp. (NASDAQ: DWAC) stock.

The week started on a high note for Aurora Technology Acquisition Corp. (NASDAQ: ATAK) as its stock recorded a notable gain of 18.39% on Monday. In addition to this, the trading volume for Aurora Technology Acquisition Corp. stock surged to nine times its average daily 60-day volume. On January 8, it was revealed that ATAC Sponsor LLC, the sponsor of the company, injected $135,000 into its trust account. This financial move aimed to extend the deadline for finalizing a business combination, pushing the consummation deadline from January 9, 2024, to February 7, 2024. Importantly, the extension note does not involve any interest. The market awaits with interest to observe whether Aurora Technology Acquisition Corp. will continue to build on its gains today.

Houston Natural Resources Corp. (OTC: HNRC) emerged as a notable participant in the oil and natural gas sector, drawing significant attention from investors on Thursday. The focus centered on its portfolio company and SPAC, HNR Acquisition Corp. (NYSE: HNRA). Despite the absence of specific company-related updates, the stock generated substantial interest. Trading activity for HNR Acquisition Corp. experienced a significant surge, reaching 13.16%, with the stock reaching its highest point in 52 weeks at $13.93 per share and up 14.15% in After Hours trading Monday January 22, 2024.

On December 11, 2024, the company made headlines by revealing its completed business combination, effective from November 15, 2023. The transaction involved acquiring the entire equity interest in Pogo Resources LLC and its subsidiary, LH Operating LLC (LHO). It's important to highlight that HNR Acquisition Corp. functions as an independent company in the natural gas and oil sector, engaging in the development, exploration, acquisition, and production of oil and gas in the Permian Basin in New Mexico. Among its assets is the Grayburg Jackson oil field in the Permian Basin.

LHO, previously a privately held entity, assumed operational control of the Grayburg Jackson Field in 2020 after acquiring the property in 2019. The initial production level in 2020 stood at 500 barrels of oil equivalent per day. By the conclusion of the nine-month period ending on September 30, 2023, LHO had successfully elevated its baseline production to 1388 barrels of oil equivalent per day. All the oil produced by LHO was distributed to various customers in the United States through long-term contracts. During this specified nine-month timeframe, LHO achieved a positive cash flow of $20.3 million and a net income of $3.9 million.

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Donald Trump’s Digital World Surges, Shines Spotlight on Special-Purpose Acquisition Companies (SPACs) DWAC, HNRA, ATAK, HNRC

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