The share price of the company backing President Donald Trump's new social media venture soared to start the trading day Tuesday, reaching its highest point since October in the first trading day since the launch of Trump's Truth Social platform.
The Conservative Political Action Conference will be held at the Hyatt Regency in Florida. Joe Raedle is the photographer.
After the markets opened Tuesday, shares of Digital World Acquisition Corp. reached a high of $99, up more than 17% from Friday's close.
DWAC and the Trump Media and Technology Group are merging to take the media company public.
The prices early Tuesday were the highest since October, when the stock traded for as much as $175 after plans were announced for Trump's new social media platform.
The share price was up more than 7% from Friday, but it was down a bit early Tuesday afternoon to around $91.
The launch of Trump's social media platform didn't go as smoothly as it could have. Many trying to sign up for the app were put on a waiting list that had grown to more than 400,000 by Tuesday morning, while others were stymied by error messages. A source told Fox Business that the platform will take 10 days to populate itself with those who pre-ordered the app, which will be fully operational by the end of the quarter.
Fox News host Sean Hannity was able to access the platform immediately after it launched.
The Securities and Exchange Commission is investigating DWAC. Regulators are looking into whether the company illegally held talks with Trump before it went public, according to the New York Times.
Thousands end up on a wait list for the truth social app.
The shares of a political action committee that supports the Trump social media company jumped 400%.
Sean, Marjorie, and others join Trump's New App Truth Social as public struggles to sign up for platform.
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