Shares of Trump-linked SPAC surge 400% following news of social media deal

  • 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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