Trump SPAC Digital World Acquisition Corp. Stock Rises After Social Media App Sets Target Launch Date

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The SPAC linked to former President Donald Trump has said financial regulators are investigating stock trading before a merger announcement.

Shares of the company connected to a planned social media app backed by former President Donald Trump rose sharply after news that the app has set a target launch date of Feb. 21.

Blank-check company Digital World Acquisition Corp.'s stock jumped by nearly 20% by the close of trading on Thursday. Trump's company is being marketed as an alternative to social media giants Twitter and Facebook, both of which banned him on the grounds of inciting the Jan. 6, 2021, riot at the U.S. Capitol.Donald TrumpDownload our local news and weather app

 

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