Donald Trump’s Truth Social Gets First Stock Market Bump in Months With Hints of 3rd Presidential Run

Donald Trump says he ’ll ‘ probably ’ pursue a third presidential run . He dismiss the rather definitive tinge at a mass meeting last hebdomad . In answer , shares ofthe shell companyDigital World Acquisition Corp. bind to Truth Social meaningfully increased in value for the first meter in calendar month . At market open on Monday , DWAC ’s value instantlyclimbed about 25 % , before falling slightly .

Referencing running for president , Trump said he would “ very , very , very probably do it again,”at an Iowa rallyon Nov 3 . Then two days later , while press for Dr. Oz and Doug Mastriano in Pennsylvania , he again suggest ata coming , big announcement . An official declaration of a third presidential running game could total as presently as Nov 14 , allot toa reportfrom Axios .

Before this rapid - ardour ecological succession of 2024 presidential bid allusions though , DWAC and Truth Socialwere not doing well . DWAC launched as a publicly sell company last year , with the purport of win and funding Truth and the broader trump card - affiliated media company , Trump Media & Technology Group ( TMTG ) . Through the acquisition , the medium group and social platformwould be shelteredfrom many of the transparency and reporting disclosures necessary to get a troupe on the stock market .

Trump has been making the rounds, holding rallies in support of Republican candidates ahead of the midterm elections (as with this Miami stop in support of Sen. Marco Rubio). And he’s also begun hinting that he could soon be campaigning for himself again.

Yet shortly after the designate merger between DWAC and TMTG was herald , the SEC , Department of Justice , and afederal grand juryin the Southern District of New York found investigations into the deal . The investigating are each broadly concerned with the timing of merger discussions , relative to when the deal was announced and when Digital Worlds go public . Under Union ordinance , companiesaren’t allowed to discusssuch acquisitions prior to an initial public offer .

The ongoing investigations put the merger on hold , and left Truth Social ineffectual to reach the funds locked up in DWAC . In August , Digital World filed a proposal to extend the unification mountain deadline by one year , to September 2023 . To O.K. such an extension , 65 % of all companionship shareholders call for to vote yes . However , the necessary affirmative right to vote are ostensibly not there , and the deadline for the final voting has beenextended six timessince it was to begin with go down , most recently on Thursday . The delayed shareowner vote is now prepare for Nov 22 . If the unification extension service is n’t successfully passed at the point , DWAC will liquidate on Dec 8 , and Truth Social ’s future becomes unclear .

And still , it ’s unlikely that Monday ’s percentage startle alone will be enough to keep DWAC and Truth afloat . Despite Trump ’s claims that his societal media political platform is doing better than its much larger competitors ( i.e. Twitter and TikTok ) , Truth only has about 1.7 million monthly singular visitant in the U.S. , versus Twitter ’s 184 million monthly U.S. visitors , according toa report from the Washington Post .

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And as Elon Musk ’s helter-skelter Twitter putsch go forward , it ’s potential that Trumpwill be appropriate backon his former , favorite platform — driving down Truth Social ’s time value even more . Though Trump has claimed he will not leave Truth for Twitter , there are clauses in his contract with TMTG that specificallyallow the former presidentto billet elsewhere .

to get that non - undivided leeway , Trump ’s family and legal representative reportedly had to get demand — keep the 76 - yr - quondam billionaire from signalize an all - embrace licensing agreement with the Truth Social founders , according to the Washington Post . Yet , even with the opportunity to move to greener pastures written into the prescribed contract , Trump might feel stuck anyway .

He has reportedly distinguish his confidants that he ca n’t abandon Truth because he know he ’s the undivided thing propping the site up . Trump does n’t desire a sword and political platform so tight tie with him to in public go bad , according to the Post , which cite “ people conversant with his thought process . ” And the DWAC strain spike examine that , on this point , Trump is probably right . Truth Social ’s economic value is inevitably tied to how central Trump is in politics . If he course for prexy again and becomes the independent character of U.S. elections for another 2 + years , then Truth Social could be around to remain .

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