Why Digital World Acquisition Stock Jumped Today
Shares of Digital World Acquisition (NASDAQ: DWAC) climbed 10% on Tuesday after former President Donald Trump's new social media app debuted on Apple's App Store.
Digital World is a special purpose acquisition company (SPAC) that intends to merge with Trump Media & Technology Group. The combined company plans to take on the likes of Meta Platform's Facebook and Twitter with Truth Social, a social media platform Trump says will "stand up to the tyranny of Big Tech."
Truth Social launched on Sunday and quickly rose to the top of Apple's App Store charts.
Source Fool.com
