Trump SPAC Digital World Acquisition, which is taking the former president's social media company and Truth Social app public, dropped 4% on a report that he plans to return to social media platforms such as Twitter.
Trump since late last year has told several people that he doesn't want to renew an 18-month exclusivity agreement with Truth Social that expires in June, according to a Rolling Stone report on Sunday. The ex-president currently has an agreement that requires him to wait six hours before posting to other social media after he posts on Truth Social, seeking alpha reports.
The latest report comes after NBC News reported that Trump is likely planning a return to Facebook and Twitter. Trump's 2024 campaign is formally petitioning Facebook parent Meta Platforms to unblock his account after it was banned following the attack on the U.S. Capitol in January 2021. Read more.
Source: Digital World Acquisition Falls on Reports Trump Will Return to Social Media