Shares of Digital World Acquisition Corp, behind former U.S. President Donald Trump’s new social media venture “Truth Social” rose about 14% on Tuesday after the app topped downloads on Apple’s App Store.
According to research firm Apptopia, Truth Social has been downloaded 170,000 times since its launch.
The launch of the app marks Trump’s return to social media after he was banned from Facebook, and Twitter after an attack on the Capitol last year.
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Digital World Shares jumped 14% to $96.36, days after the Digital World Acquisition Corp announced a deal to publicly list Trump Media & Technology Group (TMTG).
Meantime, Twitter Inc slipped 1.7%, while Facebook-parent Meta Platforms shed 1%.
