Trump SPAC stock jumps after Google adds Truth Social to Play Store

The Truth social network logo is seen displayed behind a woman holding a smartphone in this picture illustration taken February 21, 2022.

After the truth social app was added to the play store, the shares of Digital World Acquisition Corp skyrocketed.

Content moderation concerns caused the platform to be barred from the play store. The app was found to violate its policies for moderation.

The app is available to more than half of the US's smartphone users. Before the app was unbarred, the only way to access Truth Social on the phone was through a website. On Apple's App Store, the app is available. Parler, a platform similar to Truth Social, was put back on the Play Store in September after it was substantially changed to comply with the policies of the company.

CNBC reached out to DWAC.

DWAC pushed a vote to delay its merger with Trump Media. The merger deadline has yet to be extended due to DWAC's failure to get the necessary number of shareholders. If an extension isn't approved, DWAC is going to go out of business.

There have been obstacles to the merger. The private investors of DWAC were going to give $1 billion to Trump Media. At least $138 million of that money was taken out and the company moved its address to a store.

The DWAC- Trump Media deal is the subject of a Justice Department probe into potential securities violations for discussions between the two companies prior to the merger announcement.

On January 6, 2021, hundreds of Trump supporters descended on the U.S. Capitol in a violent attempt to block the confirmation of Joe Biden as President of the United States.

Last week, DWAC's shares took a hit after Musk revived his deal to buy the social networking site. Musk said he would allow Trump to return to his account. Trump has a large following on Truth Social.

The SEC has received internal documents from a whistle blower. He filed a complaint with the regulatory body.

The company is going to go bankrupt and I don't think the SEC will approve it.

Further damage to Trump's reputation could endanger the company. A federal criminal investigation is looking into whether Trump illegally kept and stashed national security documents after leaving the White House.

The shares of DWAC have fallen a lot.