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Digital World Acquisition Jumps 18% As Google Approves Truth Social

Shares of Digital World Acquisition Corp. (DWAC) are jumping over 18% driven by the news that Google has approved social media app Truth Social and is now available on Play Store.

DWAC is currently trading at $18.87, up $2.91 or 18.21%, on the Nasdaq, on a volume of 7 million shares, above average volume of 1 million. The stock opened its trading at $17.21 after closing Wednesday's trading at $15.96. The stock has traded between $9.95 and $175.00 in the past 52-week period.

Google had previously barred the social media app, which is backed by former U.S. President Donald Trump, from its Play Store for content moderation concerns.

In a statement, Trump Media & Technology Group or TMTG, which operates Truth Social, said the app can now be accessed across all devices in the United States.

Digital World Acquisition is set to take TMTG public via a SPAC merger.

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