Scott Olson/Getty Images News Update 4:15 pm: Updates with the closing price of the stock. Trump SPAC Digital World Acquisition (NASDAQ:DWAC), which takes Trump’s social media company and app Truth Social public, surged 67% after the former president suggested on Sunday that he might run for re-election in 2024. “I’ll probably have to do it again,” Trump said of another run for president in 2024, “but stay tuned.” Trump made the comments at a rally in Florida on Sunday according to media accounts, including the New York Times. An Axios report on Friday said Trump’s “inner circle” is said to be considering launching his 2024 campaign next Monday. Phunware Inc. (NASDAQ:PHUN), a software company previously linked to Trump’s 2020 presidential campaign, jumped 38%. Shares of Digital World have fallen 82% this year from highs in early March through Friday, as the social media company has been embroiled in regulatory probes and amid potential competition from a Twitter ( TWTR ) run by Elon Musk, who has He previously said he would allow Trump back on the platform. As a reminder, shares of Phunware (PHUN) soared 470% on October 22 of last year after SPAC Digital World (DWAC) announced its agreement to take Trump’s social media company public. Digital World ( DWAC ) rose to levels not seen since late August with volume of 31.4 million shares, 2,600 times its normal average. On Thursday, DWAC again suspended a vote on extending its deal to take Trump’s social media company public as it works to garner more shareholder votes. The meeting was adjourned until November 22. DWAC has an additional lifeline to survive after its SPAC sponsor put up $2.88 million earlier this year to extend the time it takes the company to complete its deal by three months to Dec. 8. DWAC has previously warned that if the deal is not extended, the SPAC could be forced into liquidation.
