Trump-Tied SPAC Shares Roar Back With Truth Social No.1 in App Store
- SPAC jumps as much as 24%, rebounding from recent slide
- Musk tweets about Truth Social beating Twitter on App Store
Photographer: Chris Delmas/AFP/Getty Images
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Former President Donald Trump’s social network is back on top of Apple’s App Store, fueling a rebound in the blank-check firm bringing its parent company public.
Shares of Digital World Acquisition Corp. leaped 24% Wednesday as thousands more users gained access to Truth Social’s full functionality and downloads jumped almost tenfold. The special-purpose acquisition company, which is merging with Trump Media & Technology Group, had slumped 60% in the previous two months or so.