Shares of Digital World Acquisition Corp (DWAC), the blank-check company backing former U.S. President Donald Trump’s new social media venture, Truth Social, surged nearly 30% in premarket trading on Tuesday as the app climbed the charts after its Sunday debut on Apple’s App Store.
Truth Social was the top free available app on the App Store on Tuesday.
Digital World’s shares jumped 26% to $106.44 and were on track to open at levels last seen in October, days after Digital World announced a deal to publicly list Trump Media & Technology Group (TMTG), the venture behind Truth Social.
Other stocks linked to Trump also advanced. Phunware (PHUN), hired by Trump’s 2020 Presidential re-election campaign to build a phone app, climbed 17.9%. SPAC CF Acquisition Corp VI (CFVI), which is taking video platform Rumble Inc public, added 5.4%.
MacDailyNews Note: An attempt to make an account by DailyMail.com on Tuesday morning resulted in being placed 372,378th on Truth Social’s waitlist. according to Wikipedia, over 500,000 are currently waitlisted.
Currently, Truth Social is available exclusively via Apple’s App Store for iPhone and iPod touch users.
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[Thanks to MacDailyNews Readers too numerous to mention individually for the heads up.]