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Trump's social media SPAC surges another 100% after shares quadruple
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cnbc.comIn this article
Digital World Acquisition Corp., the SPAC that is taking former President Donald Trump's planned social media platform public, soared again on Friday following a massive rally in the previous session.
The SPAC, which trades under the ticker DWAC on the Nasdaq, jumped more than 100% in premarket trading on Friday. The stock surged more than 350% to close Thursday at $35.54 in explosive trading volume and volatility.
SPAC stands for special purpose acquisition company, which raises money on the public markets with a goal of merging with a private company and taking it public within two years. Investors typically have no clue what the target company will be when the SPAC debuts and trades on the stock exchange.
Signs emerged
Read more on cnbc.comAbout this in other media
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