https://www.cnbc.com/2022/10/13/trump-spac-shares-jump-after-google-play-store-approves-truth-social.html
Digital World Acquisition Corp shares jump after Google Play Store approves Trump’s Truth Social
Shares of Digital World Acquisition Corp., the shell company set to take Trump Media and Technology Group public, surged after former President Donald Trump’s Truth Social social media platform was allowed on the Google Play Store Wednesday.
Shares of DWAC closed up more than 14% at $18.30 Thursday. Nasdaq paused trading of DWAC for about five minutes Thursday morning during the jump. The stock’s peak this year was about $97 in March.
The change means that the app is now available on the app store for the 44% of smartphone users in the United States who have an Android device. Android users could previously access the platform through their web browser or through “side-loading” the application through the Truth Social website.
The app had previously been barred from the Google Play Store for violating Google’s guidelines for moderating user-generated content.
“Apps may be distributed on Google Play provided they comply with our developer guidelines, including the requirement to effectively moderate user-generated content and remove objectionable posts such as those that incite violence,” a Google spokesman said Wednesday.
Truth Social agreed to enforce content moderation and to remove and block users who publish posts that incite violence, according to Google.
The platform was founded by Trump after he was banned from Twitter in January 2021 “due to the risk of further incitement of violence,” after hundreds of his supporters attacked the U. S. Capitol.
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