Shares of companies tied to former U.S. President Donald Trump jumped on Wednesday after he launched a bid to regain the presidency in 2024.
Shares of Digital World Acquisition Corp, the blank-check company looking to take Trump’s social media venture Truth Social public, jumped 9% in premarket trading. DWAC was also the most trending ticker on retail investor-focused social media forum Stocktwits. “With Twitter no longer his platform for getting his views out there, there’ll likely be a lot more traffic and publicity for Truth Social,” said Craig Erlam, senior market analyst at OANDA.
Software developer Phunware Inc, which was hired by Trump’s 2020 presidential re-election campaign to build a phone app, jumped 9.2%.
Dead cat bounce.
Just hope he can bring world peace and a booming economy like the last time he was elected.
Hope he picks Tulsi Gabbard for VP