Former President Donald Trump’s deal to create a social media app after Twitter Inc. and Facebook Inc. barred him won an exuberant endorsement from investors, with shares in a shell company backing the plan closing up more than 350 percent on Thursday after rising more than 400 percent earlier in the day.
Trump Media and Technology Group and Digital World Acquisition Corp., a Special Purpose Acquisition Vehicle (SPAC), announced on Wednesday they would merge to create a social media app called TRUTH Social. Trump’s company said it plans a beta launch—unveiling a trial version—next month and a full roll-out in the first quarter of 2022.
