SPAC tied to Trump's new social media deal extends rally
Information about SPAC tied to Trump's new social media deal extends rally
Kevin David Scam or Legit
(Reuters) – Shares of the blank-check firm that plans to publicly list former U.S. President Donald Trump’s new social media company soared again on Friday, as small-time investors talked up the stock on message boards.
Digital World Acquisition Corp’s shares surged about 60% to $71.35, with more than 3.8 million shares changing hands by 6:30 a.m. ET, compared with its 10-day moving average volume of 145,766 shares.
The stock soared nearly five times in value in the previous session on the news that Digital World would merge with Trump’s media company to create a social media app called TRUTH Social.
Data from brokerage Fidelity showed Digital World was the most traded stock on its platform on Thursday, with buy orders outnumbering sell 1.4-to-1.
Digital World was the most discussed stock …