Stocks of Trump SPAC Digital World Acquisition Corp Soar After Social Media App Set to Launch Feb. 21
January 7, 2022 | Florida
Shares of the company which is taking former President Donald Trump’s social media platform public rose nearly 20 percent on Thursday after a listing on Apple’s app store showed an expected start date of Feb. 21—the U.S. Presidents’ Day holiday.
Trump Media and Technology Group and Digital World Acquisition Corp., a Special Purpose Acquisition Vehicle (SPAC), announced in October that they would merge to create a social media app called TRUTH Social. SPACs use money raised through an initial public offering to take a private company public.
At the time the merger was announced, Trump’s company said it planned a full roll-out in the first quarter of 2022… (Excerpts from the Epoch Times)
