Trump-tied stocks jump as former president launches 2024 White House bid

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Digital World Acquisition and Canada’s Rumble are among the companies seeing gains

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%.

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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

Nederland Laatste Nieuws, Nederland Headlines