Digital World SPAC jumps as Trump's Truth Social migrates to Rumble cloud

Remark Holdings

22/04/2022 14:01

** Trump-linked SPAC Digital World Acquisition Corp  DWAC.O 
up 6% at $40.23 premarket 
    ** DWAC says that Donald Trump's new media platform, Truth
Social, has migrated to video platform Rumble's cloud platform
    ** Trump's venture entered into a tech and cloud-services
agreement with Canada's Rumble in December  urn:newsml:reuters.com:*:nL4N2SZ422
    ** DWAC could see its fifth session in the black this month
if premarket gains hold
    ** DWAC among the top 10 most active stocks on
trading-focused social media site Stocktwits with a 17% spike in
messaging volumes
    ** SPAC CF Acquisition Corp VI  CFVI.O , which is taking
Rumble public, up 2%
    ** Software developer Phunware Inc  PHUN.O , hired by
Trump's 2020 Presidential reelection campaign to build phone
app, up 1%
    ** DWAC has now lost ~40% of its value since Reuters
reported in early April that two key execs quit Trump's startup
after troubled app launch, and as Tesla chief Elon Musk revealed
a big stake in Twitter  TWTR.K   urn:newsml:reuters.com:*:nL2N2W20WY  urn:newsml:reuters.com:*:nL3N2WI34V
    ** DWAC shares on Thursday tumbled 17% to log their
second-worst day since SPAC deal announcement in October
 urn:newsml:reuters.com:*:nL1N2RH1KW


 (Reporting by Anisha Sircar in Bengaluru)
 ((Anisha.Sircar@thomsonreuters.com;))