Truth: Trump’s Social Network Makes Tech Company Skyrocket

truth: The launch of truth Social, Donald Trump’s new social network, directly impacted the actions of Digital World Acquisition Corp. (DWAC), the company behind the platform. This Tuesday (22), the value of the company’s shares soared on the American stock exchange.

According to CNBC, Digital World shares opened the week with a 26% appreciation, reaching US$106.44 at the best moment of the day, equivalent to R$533.32 at the current price. This was the company’s biggest increase in the last four months.

The price of DWAC’s shares recorded now was the closest to the record reached in October last year, when they were traded at US$175. The appreciation came a day after the announcement of the merger between the company and Trump Media & Technology Group, of the former president of the United States.

The debut of Trump’s social network on Sunday (20) also impacted the sale of shares in other companies related to the politician. Phunware, which participated in its 2020 election campaign, rose 17.9%, while CF Acquisition Corp VI, linked to conservative platform Rumble, gained 5.4%.

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