After being kicked off Twitter and Facebook, Donaldnetwork has sparked a frenzy from investors eager to get on board. After being kicked off Twitter and Facebook, Donald Trump’s announcement of his has sparked a frenzy from investors keen to get on board. The former US president announced on Wednesday he planned to launch “TRUTH Social”, which will be owned by Trump Media and Technology Group (TMTG), in a bid to reclaim his internet dominance after being barred from virtually all social media in the wake of the .
TMTG will merge with Miami-based Digital World Acquisition Corp to create the, slated for a beta launch next month and a full roll-out in the first quarter of 2022. Reuters reported that the move was met with exuberant endorsement from investors, with shares in a shell company backing the plan closing up more than 350 percent on Thursday. Shares in Digital up a staggering 356.8 percent at $US45.50 a claim, with its market capitalization rising to $US1.47 billion, up from $US321 million on Wednesday. It was the most actively on the Nasdaq, with a volume of more than 477 million shares.
“I have never seen anything like this, such share reaction based on hopes and dreams,” former investment banker Kristi Marvin told investors on a Trump and the expectation his platform would draw followers. “Up to this point, there hasn’t been a publicly traded vehicle for those that support the former president,” he said. Mr. Trump’s move will likely further strengthen speculation that he is gearing up for another in 2024.discussion, Reuters reported. Longbow co-founder Jake Dollarhide said the massive rise reflected support for Mr.
TRUTH Social’s beta launch will be for “guests”. It is already available for pre-order in Apple’s, the group said in a statement. TMTG also intends to that will feature “non-woke” entertainment programming and will be led by Scott St. John, an executive producer from America’s Got Talent, the statement said. For years, Mr. Trump, who wielded Twitter in particular as a rhetorical weapon during his presidency, has battled that he argues have wrongfully censored him.
“I created TRUTH Social and TMTG to stand up to the tyranny of Big Tech,” Mr.in the statement. “We live in a world where the Taliban has a huge presence on Twitter, yet your favorite American President has been silenced. This is unacceptable.” US Congressional investigators are examining the January 6 riot, when Trump supporters entered the Capitol nine months ago during the final certification of President election victory. The investigative committee has charged that Mr. Trump was “personally involved” in organizing the unrest.
The free-speech fight escalated when the world’s dominant social media platforms banned Mr. Trump as punishment for stirring up the mob. Facebook banned Mr. Trump indefinitely on January 7, . Twitter quickly followed, permanently suspending Mr. Trump’s account — which had more than 88 million followers at the to the “risk of further incitement of violence”. Ever since, Mr. Trump has been looking for ways to reclaim his internet megaphone, launching several lawsuits against the tech giants.
Former Trump aide Jason Miller launched a social network called Gettr earlier this year, but the former President has not yet joined it. In May, he found a blog called “From the Desk of Donald J. Trump”, touted as a significant new outlet — but he pulled it from the internet just a Social was announced, Miller congratulated Trump on “re-entering the social media fray”. “Now Facebook and Twitter will lose even more market share,” he said in a statement tweeted by Gettr.. Shortly after TRUTH
The TMTG statement said the group would merge with Digital World Acquisition Corp, a particular purpose acquisition vehicle (SPAC), to make it publicly listed. The transaction gave TMGT an initial enterprise Trump social network to Read related topics: Donald Trump. “Given the total addressable market and President Trump’s large following, we believe the TMTG opportunity has the potential to create significant shareholder value,” DWAC chief Patrick Orlando said. Mr. Trump, meanwhile, has been holding public events, including campaign-style rallies, as he . He has 2024 presidential run but has not announced his political future. Published initially as Investors go crazy for