Donald Trump held up his book at the Trump National Golf Club Jupiter.
Joe Raedle is a photographer.
Digital World Acquisition Corp., the company that plans to merge with former US President Donald Trump's media outfit, soared Thursday as the Trump entity seeks to raise up to $1 billion, according to a report.
Trump Media is in line to receive $293 million if it sells shares to hedge funds and family offices.
When it landed its October deal with Digital World, it had a valuation of $875 million. The amount is a reflection of the rally in Digital World's shares after Trump supporters and day traders bought the stock.
DWAC stock climbed as much as 29% to $57.38 during premarket trade in a busy early session as more than 1.3 million shares were exchanged. The shares had been valued at $10 each and hit a high of $175 on October 22. They closed Tuesday's session at $44.35.
The report said that the social media app that Trump's media company is developing has yet to be rolled out. The company said in October that it would have a sneak peak of its Truth Social app in November. The app was going to be introduced nationwide in the first quarter of 2022.
"I created TRUTH Social and TMTG to stand up to the tyranny of Big Tech," Trump said in an October press statement.
Business Insider has an original article.
