Digital World Acquisition Corp DWAC shares are volatile in Wednesday's after-hours session following reports that former President Donald Trump's Facebook and Instagram accounts will be reinstated.
What To Know: According to an NBC News report, Trump will be reinstated on Meta Platforms Inc's META Facebook and Instagram a little more than two years after he was suspended.
The report indicates the former president's accounts should become officially active in the "coming weeks."
Both Meta and Twitter blocked Trump from using the platforms just one day after a group of his supporters stormed the Capitol, but Trump has since regained control of his Twitter account.
Last month, the House of Representatives Jan. 6 committee, responsible for investigating the Jan. 6 attack, voted unanimously to recommend the Department of Justice investigate the former president on four referrals.
Check This Out: Trump's Return to Facebook, Twitter Could Reportedly Mess Up Truth Social Exclusivity Contract
Digital World is a SPAC set to merge with the former president's Trump Media & Technology Group, which is behind the Truth Social app. Trump has just under 5 million followers on Truth Social, but he has more than 87.5 million on Twitter and approximately 34 million on Facebook.
DWAC Price Action: Digital World has a 52-week high of $101.87 and a 52-week low of $14.16.
The stock was down 2.01% in after hours at $14.60 at the time of writing, according to Benzinga Pro.
Photo via Shutterstock.
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.