Trump-Linked SPAC Digital World Acquisition Corp. (DWAC) Continues Surge After Iowa Win

Digital World Acquisition Corp. DWAC has continued its run following former President Donald Trump's win in Iowa earlier this week. DWAC's stock surged 29% in Tuesday's trading session and is up another 17% at the time of this writing on Wednesday.

Trump won the Iowa caucus by a record margin of about 30 points, according to CNBC, with Ron Desantis coming in second, Nikki Haley in third, and Vivek Ramaswamy in fourth. Ramaswamy ended his campaign following the results, endorsing Trump shortly thereafter.

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Digital World is a special purpose acquisition corporation (SPAC) that is trying to merge with the former president's Trump Media & Technology Group, which is behind the Truth Social app.

Online video-sharing platform and YouTube rival Rumble RUM has also posted a strong performance since the Iowa results were announced, surging 15.6% on Tuesday. However, it’s given up some of those gain’s today, Wednesday, as it’s down about 7.5% at the time of this writing.

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