Shares of the Digital World Acquisition Corp., a blank-check company funding a controversial social media venture, have skyrocketed following the release of the company’s flagship app. The new social media app is a project affiliated with Donald Trump, and its name, Truth Social, bears a striking resemblance to the former president’s surname, consistent with his well-known flair for branding and self-promotion. Trump Media & Technology Group and Digital World entered into a definitive merger agreement in October of last year. With the stock markets closed in honor of President’s Day at the time of the app’s debut, shares of Digital World have surged by over almost 30 percent in premarket trading on Tuesday, with prices cooling down later in the morning and rising somewhat more conservatively by market close. The app launch was an immediate sensation, surging to the top spot on the Apple Store charts within hours of its … » Read full article
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