Digital World Acquisition Corp shares jump after Google Play Store approves Trump's Truth Social

Shares of Digital World Acquisition Corp., the ammunition institution acceptable to instrumentality Trump Media and Technology Group public, roseate importantly aft erstwhile President Donald Trump's Truth Social level was allowed onto the Google Play Store Wednesday.

Shares of DWAC were up much than 18% Thursday.

The alteration means that the app is present disposable connected the app store for the 44% of smartphone users successful the United States who person an Android device. Android users could antecedently entree the level done their web browser oregon done "side-loading" the exertion done the Truth Social website.

The app had antecedently been barred from the Google Play Store for violating Google's guidelines for moderating user-generated content.

"Apps whitethorn beryllium distributed connected Google Play provided they comply with our developer guidelines, including the request to efficaciously mean user-generated contented and region objectionable posts specified arsenic those that incite violence," a Google spokesperson said Wednesday.

Truth Social agreed to enforce contented moderation and to region and artifact users who people posts that incite violence, according to Google.

The level was founded by Trump aft he was banned from Twitter successful January 2021 "due to the hazard of further incitement of violence," aft hundreds of his supporters attacked the U.S. Capitol. 

Shares of DWAC fell successful aboriginal October erstwhile Elon Musk said helium would bargain Twitter. The billionaire has antecedently said that helium would reinstate Trump's account. The erstwhile president had implicit 80 cardinal followers connected Twitter, but helium has lone astir 4 cardinal connected Truth Social.

Investors person cited these anemic numbers among their reasons for pulling backing from the DWAC-Trump Media merger. The institution mislaid $138 cardinal of its $1 cardinal backstage concern aft a cardinal deadline passed successful September.

DWAC is presently pushing to widen the deadline for the merger, which is presently acceptable for Dec. 8. The institution needs 65% of shareholders to o.k. a yearlong extension, but it has frankincense acold failed to get capable support. Without the hold oregon the completion of the merger, DWAC would liquidate Dec. 8. The shareholder ballot has been delayed until Nov. 3.

The woody is besides the taxable of a Justice Department probe into imaginable securities violations relating to undisclosed discussions betwixt the companies anterior to the merger announcement. A whistleblower and laminitis of Trump Media and Technology Group, Wiliam Wilkerson, flagged the imaginable violations to the SEC.

"One mode oregon another, this institution is going to spell bankrupt," Wilkerson precocious told the Miami Herald. "I don't deliberation the institution is going to beryllium approved by the SEC."

Trump Media has said the institution is exploring ineligible enactment against the SEC for delaying the deal.