Why Donald Trump-Linked Stock Digital World (DWAC) Is Surging After Hours
Digital World Acquisition Corp (NASDAQ:DWAC) shares are trading higher in Wednesday’s after-hours session following reports that Alphabet Inc (NASDAQ:GOOG) has approved the Truth Social app for distribution in the Google Play store.
According to several reports, Google has approved former President Donald Trump’s social media app for distribution.
Google previously disapproved the app on content moderation concerns after the company said the app violated its policies for moderating user-generated content.
Trump Media & Technology Group is in the process of a SPAC merger with Digital World. Less than one month after failing to get shareholder approval to extend the vote on the merger, a new vote was once again delayed this week. The SPAC failed to get the necessary 65% of shareholders to vote on an agreement for a deadline extension.
The merger vote extension is now scheduled for Nov. 3. The SPAC is expected to be liquidated in December if an extension is not approved.
Check This Out: How To Get Donald Trump’s Truth Social
DWAC Price Action: Digital World has a 52-week high of $101.87 and a 52-week low of $15.20.
The stock was up 5.83% in after hours at $16.90 at time of writing, according to Benzinga Pro.
Photo: Gage Skidmore from Flickr.