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Truth Social was launched on Sunday, potentially marking Trump's
return to social media after he was banned from Twitter Inc,
Facebook and Google following an attack on the U.S. Capitol by
his supporters last year.
Truth Social was the top free available app on the App Store on
Tuesday.
Digital World's shares jumped 26% to $106.44 and were on track
to open at levels last seen in October, days after Digital World
announced a deal to publicly list Trump Media & Technology Group
(TMTG), the venture behind Truth Social.
Other stocks linked to Trump also advanced. Phunware, hired by
Trump's 2020 Presidential re-election campaign to build a phone
app, climbed 17.9%. SPAC CF Acquisition Corp VI, which is taking
video platform Rumble Inc public, added 5.4%.
Blank-check firm Benessere Capital, a shell company run by DWAC
CEO and former investment banker Patrick Orlando, was up 0.3%.
Digital World was among the most actively traded U.S. stocks
before the opening bell, and trended high on investor-focused
social media site stocktwits.com, indicating interest from
retail traders.
(Reporting by Medha Singh in Bengaluru; Editing by Saumyadeb
Chakrabarty)
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