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SPAC Tied to Trump’s Social Media Venture Sinks as Downloads Slump 95%

  • Downloads drop to 8,000 a day from a boom of 170,000: Apptopia
  • Digital World has fallen 31% from last month’s launch
Former President Donald Trump

Former President Donald Trump

Photographer: Tristan Wheelock/Bloomberg
Updated on

Shares of the blank-check firm bringing Donald Trump’s media venture public are sinking with daily downloads for the former president’s social media app declining 95% since launching last month.

Digital World Acquisition Corp., the special-purpose acquisition company merging with Trump Media & Technology Group, has shed 31% of its value since shares soared late in February when the Truth Social app launched on the Apple App Store.