The TRUTH Social social network, founded by former President Trump, has set Feb. 21 as the official launch date for the app. Its stock soared to 20% in a matter of minutes, reports The Guardian.
In October, the Trump Media and Technology Corporation announced the platform’s launch, describing it as a tool to “stand up to the tyranny of Big Tech.” According to the platform’s listing in the App Store, it is presently available for pre-order.
A “TRUTH feed” will be one of its features, along with similar notifications and other services found in almost all social media programs.
The app’s creators say they intend to adopt a “Big Tent” strategy to bring together people from all backgrounds to encourage a fruitful and enjoyable exchange of ideas.
In addition to its basic functions, the app is being utilized in response to Big Tech’s restriction of President Trump’s platform, which Twitter and Facebook delisted following the Cybersecurity breach Capitol on Jan. 6.
The stock of Digital World Acquisition Corporation (DWAC) began the day near $50 before surging to $60 in late trading. The overall market value of DWAC now stands at roughly $2.2 billion due to this growth.
A special purpose acquisition company (SPAC) is a corporation founded to acquire private firms and obtain investor backing without the private enterprises going public.
California Republican Rep. Devin Nunes, who said last month that he would resign from Congress to manage Trump Communications and Technology Corporation, will be the new platform leader.