Digital World Acquisition Corp (NASDAQ: DWAC) , the special purpose acquisition company (SPAC) planning to take Trump Media & Technology Group public through a merger, continued its roller-coaster of gains and losses on Dec. 7 as its share value soared 16.6% by market close.
Fresh news about former U.S. President Donald Trump's Truth Social platform drove the gains, centering on a distribution deal with video hosting service Rumble, itself aiming at a stock market debut via a merger with CF Acquisition Corp VI (NASDAQ: CFVI) . Together, the two media companies may potentially play off each other's strengths and achieve stronger growth.
Trump Media plans to launch the Truth Social platform, an alternative social media site billing itself as a free-speech alternative to Twitter or Meta Platforms ' Facebook. The move comes after Twitter's shuttering of Trump's account in January 2021 and subsequent suspension of various other accounts.
For further details see:
How Trump's Media Platform Deal With Rumble Could Benefit Both Companies