Shares of a SPAC linked to taking former President Donald Trump’s media and social media company public jumped Tuesday. Here’s what could be causing the sudden spike.
What Happened
Social media app Truth Social is part of Trump Media & Technology Group, a company going public via SPAC merger with Digital World Acquisition Corp..
Fox News, a unit of Fox Corp., officially joined Truth Social Tuesday with a verified news feed on the social media platform. The news was reported by Axios reporter Dan Primack.
“Truth Social today added formal/verified Fox News feed to its app. Notable, because most new brands—plus NFL, NASA, etc.—only have ‘bot feeds’ on the site, even though Truth Social promotes them,” Primack tweeted.
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