Former President Donald Trump’s new social media company appears to have missed the November deadline it set to release an invitation-only beta version of “Truth Social,” its purported alternative to Twitter, CNBC reports.
There have been no official announcements of a beta launch, nor have there been any sightings or images of the supposed platform online.
At the same time, the price of the stock of Digital World Acquisition– the SPAC that plans to merge with Trump’s social media firm – has dropped dramatically since its share price exploded when the deal was announced in late October.
Shares of DWAC, which had been trading as high as $175 per share right after the merger was disclosed, were trading at around $42 per share on Wednesday.
It is not unusual for tech companies to miss their own deadlines for product releases.
But the November launch date that Trump Media & Technology Group set for “Truth Social” was the first clear test of whether the company could deliver on its promises to investors who bought stock in DWAC. Read more.
