After Being Banned, Trump Wants to Create His Own Social Platform

According to reports, Trump’s new company, Trump Media & Technology Group (TMTG, Trump Media & Technology Group), said on Wednesday night that it has reached a final merger agreement with the shell company $Digital World Acquisition Corp (DWAC.US). Business combination will be carried out, subject to regulatory approval and shareholder approval.” The transaction valued Trump Media Technology Group at US$875 million.

DWAC's stock price stopped trading briefly on Thursday due to large fluctuations. The intraday increase reached 400%, and finally closed up 356.83%. The turnover of nearly US$14 billion ranked second in the US stocks’ turnover on the day, with the latest market value of US$1.635 billion.

DWAC jumped to one of the 10 most popular stocks in Reddit's WallStreetBets chat room on Thursday, even surpassing the "meme" stock game station.

Trump said his company will launch a new social platform called "TRUTH Social" to counter companies such as social media giants Facebook and Twitter.

TRUTH Social is currently available for pre-subscription in the Apple App Store. The company plans to release its BETA version to invited users in November, and then launch it nationwide in the first quarter of 2022.

Climb up wherever you fall
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