The SPAC tied to Trump's Truth Social surges 15% after the former president is formally indicted
The surge in the stock could be driven by the idea that while the indictment is bad news for Trump, it could be good news for business, helping drive activity and engagement on a service that looks a lot like Twitter.
"These Thugs and Radical Left Monsters have just INDICATED [sic] the 45th President of the United States of America, and the leading Republican Candidate, by far, for the 2024 Nomination for President," Trump posted to Truth Social. The exact charges haven't been made public yet, but Trump was indicted after a grad jury heard evidence related toright before the 2016 election. Trump plans to turn himself in early next week, which could drive more activity to Truth Social.
after reports surfaced that executives of the two companies may have held deal talks before Digital World's initial public offering, which would violate SPAC regulations if proven true.
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