The criminal case against Donald Trump is providing a lift today to the blank-check firm taking his media company public, as well as other stocks tied to the former president, as traders bet the news will drive traffic to conservative outlets, Bloomberg reports.
Digital World Acquisition, the SPAC trying to merge with Trump Media, rallied as much as 10%. Meanwhile, Phunware, a software company that worked on Trump's 2020 reelection campaign, gained as much as 5.6% and Rumble, the Peter Thiel-backed conservative video network, climbed as much as 11% after reporting results. Read more.
Source: Trump-Tied SPAC's Shares Jump After Historic New York Indictment