The last time I discussed the controversial special purpose acquisition company Digital World Acquisition Corp. (NASDAQ:DWAC), its shares were up 57% on a year-to-date (YTD) basis. Since then, DWAC stock had its dips and dives, but it is still up 6o% YTD.
For me, I find the answer alarmingly simple. As a powerful and charismatic figure, former President Donald Trump has found the perfect emotional catalyst to corral intense and unprecedented electoral support. Rather than persuade the conservative base to merely wrestle with so-called grievance culture, he has given them the blueprint to turn the narrative on its head.
Grievance Culture and its Inverse
According to CivilityMatters.org, a “grievance culture exists when significant numbers of people claim victim status and assign the blame to someone or some group they don’t like. Social media and the twenty four hour news cycle have provided the organizational mechanism and public forum for individuals to join together in a public display of outrage.”