Trump SPAC Digital World stock rebounds after Trump vows to stay away from Twitter
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Trump SPAC Digital World Acquisition (NASDAQ:DWAC), which is taking Trump’s social media platform public, rebounded after Monday’s drop and gained 12% amid reports that Trump plans to say off of Twitter (NYSE:TWTR) even with an Elon Musk takeover.
Trump also told Fox and CNBC on Monday that he planned to post on his Truth Social media platform in the coming days after he has largely been absent since its launch.
Truth Social was also listed as the No. 1 app in Apple’s App store after it originally held the same spot when Truth Social launched in late February. Trump, who has been banned from Twitter (TWTR), Facebook (FB) and Google (GOOGL), is marketing Truth Social as an alternative outlet to those social-media giants.
“No, I won’t be going back on Twitter,” Trump told CNBC’s Joe Kernen on Monday.
“I will be on Truth Social within the week,” Trump told CNBC. “It’s on schedule. We have a lot of people signed up. I like Elon Musk. I like him a lot. He’s an excellent individual. We did a lot for Twitter when I was in the White House. I was disappointed by the way I was treated by Twitter. I won’t be going back on Twitter.”
Although Trump said he plans to be on Truth Social soon, Trump has privately “fumed” about the rollout of Truth Social and has “mused” about joining a competitor such as Gettr, according to a Washington Post report earlier this month. Trump was said to be reluctant to post to Truth Social because “it is not ready for prime time”.
