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Supported by several heavyweight conservative figures, Colombier Acquisition Corp. (NYSE: CLBR) is an exciting stock to watch this week as the SPAC intends to close its merger with anti-woke app Public Sq. on July 20. Given that the company caters to the same conservative audience as Digital World Acquisition Corp. (NASDAQ: DWAC), CLBR stock could see a similar run to DWAC’s in late 2021 after announcing its intent to merge with Trump’s app Truth Social.
CLBR Stock News
On July 19, CLBR will hold a shareholders’ meeting in which shareholders will vote for the approval of its planned merger with Publicsq, a conservative app that evaluates the wokeness of companies and as a result helps its conservative users to avoid woke institutions. PublicSq also assists its users in supporting conservative businesses which has led to many believing the company is an Amazon alternative for the conservative population. If the vote is approved, PublicSq will start trading on the NYSE under the ticker PSQH instead of CLBR stock.
PublicSq currently supports a strong customer base amounting to 1.1 million people and is well-renowned in conservative circles. In fact, many noteworthy conservatives have already voiced their approval of this app including Mike Pence, Blake Masters, Omeed Malik, Donald Trump, and Donald Trump Jr who is an investor in the company.
Additionally, its already strong popularity among conservatives is likely to substantially increase due to its recent $1.1 million ad deal with Tucker Carlson’s Twitter show. As is, Carlson’s show receives a minimum of 10 million views per episode and some of his episodes have received more than 100 million views. Views aside, this deal is a well-calculated demographic play since Tucker Carlson and the PublicSq app cater to the same conservative base, which means that the app’s users are likely to drastically increase as a result of the targeted exposure the deal provides.
The Next DWAC?
Given its focus on the conservative population, there are a lot of similarities between CLBR stock and DWAC stock which could see the stock have a similar run. When news broke out of DWAC’s deal with Truth Social, the stock’s trading volume soared to 489 million shares – causing the stock to skyrocket more than 1493% in response. That said, given the fact that both stocks cater to the same audience, it is reasonable to expect CLBR to have a similar run once the merger is finalized.
As is, CLBR has a lot of market potential because a substantial number of Republicans and independents have a negative perspective regarding wokeness. According to an IPSOS market study, 60% of Republicans and 42% of independent voters view wokeness in a negative light and 40% of Americans share that sentiment. This is significant since 71% of Americans prefer buying from companies that share their values which is exactly what PublicSq is trying to achieve. Keeping that in mind, it is safe to assume that the app may experience a drastic increase in users as it gains popularity.
PublicSq’s revenues come from a subscriber-based advertisement model where it obtains revenue through subscription fees paid by advertisers in exchange for increased visibility. As the app gains popularity, more and more businesses may sign up for the program and as a result increase its revenue over time.
@KickoStocks sees the similarities between CLBR stock and DWAC stock.
@BIGtradinggroup wants CLBR to have a similar run to DWAC.
CLBR stock is in a neutral trend and is trading in a sideways channel between its support at $9.44 and its resistance at $10.18. Looking at its indicators, the stock is currently trading below the 200, 50, and 21 MAs which is a bearish indication. Meanwhile, the RSI is approaching oversold at 37 and the MACD is bearish.
As for the fundamentals, CLBR stock may gain momentum ahead of the shareholders’ vote to approve the SPAC merger considering the dedication of the conservative investor base. Given the positive sentiment regarding the stock among conservatives, CLBR stock could replicate DWAC’s run in late 2021.
CLBR Stock Forecast
With the vote to approve the merger with PublicSq scheduled for July 19, CLBR stock has a high chance of running once the deal is approved given the bullish sentiment surrounding PublicSq in conservative circles. As more and more Americans are becoming against woke culture, PublicSq may see significant success in attracting new customers since the majority of Americans prefer buying from companies that share their values. Given that the company is supported by several notable conservative figureheads, CLBR stock may replicate DWAC stock’s performance in late 2021.
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