Former U.S. President Donald Trump’s “Truth Social” app has officially launched and is now available for download in the Apple (AAPL) store.
Shares of Digital World Acquisition Corp. (DWAC), a special purpose acquisition company (SPAC) that’s taking public the company behind the Truth Social app, Trump Media and Technology Group, surged nearly 30% in premarket trading on news that the app is now available.
Truth Social, which replicates Twitter (TWTR) marks Donald Trump’s return to social media after he was banned from most platforms following an attack on the U.S. Capitol by his supporters in January 2021.
Truth Social is currently ranked as the top free available app on Apple’s App Store.
Digital World Acquisition Corp.’s shares jumped 26% to $106.44 U.S. and were on track to open at levels seen last October, days after Digital World Acquisition announced a deal to publicly list Trump Media & Technology Group. The date for when the SPAC deal will close has not been made public.
Digital World Acquisition Corp. was among the most actively traded U.S. stocks before the opening bell, and trended high on investor-focused social media sites such as “stocktwits.com,” indicating strong interest from retail traders.
Donald Trump has said that having a social media platform is central to his plans to run for re-election in the 2024 presidential race.
