Trump-linked stocks rise after social media venture raises $1 bln

Remark Holdings

06/12/2021 12:44

** Stocks linked to former U.S President Donald Trump rise
in premarket trading after his social media venture said on
Saturday it had raised ~$1 bln from unidentified investors 
    ** The plans for the capital raise were first reported by
Reuters on Wednesday  urn:newsml:reuters.com:*:nL1N2SP0DN
    ** Digital World Acquisition Corp  DWAC.O , the blank-check
acquisition co that will take Trump Media & Technology Group
Corp public by listing it in New York, up 8.9% premarket
    ** SPAC CF Acquisition Corp VI  CFVI.O  that will take
Canadian video platform Rumble Inc public and was joined by
Trump in June, jumps 26.3% 
    ** CFVI and DWAC are among the top-trending stocks on
investor-focussed social media Stocktwits.com
    ** Software developer Phunware Inc  PHUN.O , hired by
Trump's 2020 Presidential reelection campaign to build a phone
app, rises 5.6%
    ** Remark Holdings  MARK.O , which has been linked to Trump
on social media forums, added 1.9%. Reuters could not
independently verify the link between Trump and Remark Holdings
    ** Blank-check firm Benessere Capital  BENE.O , a SPAC run
by DWAC CEO and former investment banker Patrick Orlando, falls
0.4%
    ** PHUN, CFVI among the top 5 volume movers in premarket
trading  
    ** A surge in DWAC shares in October on the SPAC merger with
Trump Media prompted a rally in MARK, PHUN, BENE, and other
stocks linked to the former president  urn:newsml:reuters.com:*:nL4N2RL2RA

 (Reporting by Bansari Mayur Kamdar)
 ((BansariMayur.Kamdar@thomsonreuters.com;))