After Elon Musk disclosed that he had decided to refrain from buying Twitter (NYSE:TWTR), Digital World Acquisition (NASDAQ:DWAC) stock is rallying 16% in pre-market trading. DWAC stock is a special-purpose acquisition company (SPAC) that has agreed to merge with the Trump Media and Technology Group, or TMTG. TMTG is a social media company founded by former U.S. President Donald Trump.
TMTG officially launched Truth Social in February, a social media website that has touted its commitment to the principle of free speech.
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