Former President Donald Trump made a surprise return to X, formerly known as Twitter, Thursday night after he surrendered at the Fulton County jail in Georgia. The ex-president posted his glowering mugshot on the platform along with defiant messaging. Trump had been banned from the site long known as Twitter and had not posted on the platform since Jan. 8, 2021, even though Twitter/X owner Elon Musk restored Trump’s account late last year.
His return to X sent shares of Digital World Acquisition, the SPAC aiming to take Trump’s own social-media platform public, downward early today, although by mid-afternoon shares had crawled back and were up 5.24%. The whiplash movement was on par with other Trump announcements and news developments concerning the SPAC that have sent Digital World stock on a periodic rollercoaster since the deal was announced nearly two years ago.
Digital World’s deal with Trump’s company imposes certain time limits on how long he must wait before reposting messaging on platforms that compete with his own Truth Social.
The SPAC faces a Sept. 8 completion date unless shareholders approve a one-year extension. Digital World has sent multiple notices to its shareholders in the last week, imploring them to vote in favor of the extension.
