Trump SPAC Soars as Retail Traders Pump Shares Higher
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Retail investors are piling into the special purpose acquisition company that agreed to take former President Donald Trump’s media firm public as thousands of users pump shares across social media platforms.
Digital World Acquisition Corp., the SPAC that’s set to merge with Trump Media & Technology Group, is Thursday’s top purchase on Fidelity’s platform with about 55,000 buy orders from customers. That was nearly quadruple the purchases for PayPal Holdings Inc., the second-most-bought stock, and more than eight-times the demand for the ProShares Bitcoin Strategy ETF (ticker BITO).
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Trump SPAC Soars as Retail Traders Pump Shares Higher