Published , by Asif Khan
Published , by Asif Khan
Social media companies like Twitter sure have been dominating the headlines of late, and you may have even heard about people quitting over Elon Musk's acquisition. Apparently people are leaving Twitter and some of them appear to be on Trump's Truth Social, catalputing the app to the top of the App Store again.
Digital World Acquisition Corp (DWAC) was up 14.25% on Tuesday, recovering from a selloff on the news that Elon Musk bought Twitter for $44 billion.
With a market capitalization slight over $1 billion, DWAC might actually draw some new investors now that Twitter is going private. The shares hit an all-time high of $175/share following an IPO price of $12/share just last year. It's important to note that this isn't the first time that Truth Social has hit the Top Free Apps Charts on App Store.
Trump had stated earlier this week that he would not rejoin Twitter even if unbanned by Elon Apparently this actually drew some of the former president's former followers who followed him over to his new app Truth Social.
Personally, I can't really relate to these billionaires wanting to own websites. Seems like the billionaire nerd equivalent of buying a sports team. But if you are interested in free apps not run by a billionaire, check out Shackpets on iOS and Android. It's a free app that has tons of amazing pet pictures, daily cuteness battle matches, and even a Latest Pets feed where you can check out all the cute foofers for free.
This article is only meant for educational purposes, and should not be taken as investment advice. Please consider your own investment time horizon, risk tolerance, and consult with a financial advisor before acting on this information.
Full Disclosure:
At the time of this article, Shacknews primary shareholder Asif A. Khan, his family members, or his company Virtue LLC had the following positions:
Long Twitter via TWTR shares