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    Retail traders are cheering Trump's deal to make SPACs great again as Digital World Acquisition Corp. extends triple-digit gains.

    • Retail traders have poured into Digital World Acquisition Corp. stock following the Trump deal.
    • DWAC, which has soared about 1,000%, had the most buy orders by far, according to Fidelity.
    • Comments on the stock surged after the deal: "DWAC: Make SPACs great again," wrote one Redditor.

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    • Digital World Acquisition Corp., the SPAC that is taking former President Trump’s planned social media platform public, soared Friday following a massive rally in the previous session.
    • The SPAC, which trades under the ticker DWAC on the Nasdaq, jumped more than 100%.
    • The ticker was among the most popular mentions on Reddit’s WallStreetBets, which indicated that DWAC could be having a meme stock moment like GameStop and AMC.
    • Phunware, the advertising software startup involved with Trump’s 2020 reelection campaign, jumped in unison with DWAC.

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    Digital World Acquisition Corp. is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. While we may pursue an initial business combination target in any business or industry, we intend to focus on combining with a leading tech company.

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    Former U.S. President Donald Trump's plan to create a social media app after Twitter Inc (TWTR.N) and Facebook Inc (FB.O) barred him won an endorsement from investors on Thursday who sent shares in a shell company backing the effort soaring.

    Trump Media and Technology Group and Digital World Acquisition Corp (DWAC.O), , a Special Purpose Acquisition Vehicle (SPAC), announced on Wednesday they would merge to create a new 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.

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    The share price of a special purpose acquisition company (SPAC) that plans to merge with a media group connected to former President Donald Trump quintupled at times on Thursday, following an announcement late Wednesday night that Trump planned to launch a new social media company.

    • Shares of the Digital World Acquisition SPAC were trading at $49.81 early Thursday afternoon—more than 400% higher than the price on Wednesday.
    • Its massive surge tapered off to end the day, having a share price of $45.50 to close the day, which was still 357% higher than Wednesday’s close.
    • Trading was halted at five points on Thursday due to volatility, leading to surges in price each time trading resumed.
    • The price of the stock more than doubled over a period of under two hours late Thursday morning into the early afternoon.
    • Digital World Acquisition Corp. was the Fidelity platform’s most actively traded stock on Thursday, with “buy” orders outnumbering “sell” orders nearly three to one.

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    • The stock of SPAC company Digital World Acquisition Corp. skyrocketed on extremely heavy trading volume after news of a merger that would launch former President Donald Trump’s planned social media platform.
    • DWAC’s stock surged 400% Thursday after trading was halted multiple times due to volatility.
    • DWAC was among the top 10 most popular names on Reddit’s WallStreetBets chatroom, even exceeding meme stock GameStop’s mentions.

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