Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

DWAC Drops 5% as Truth Download Data Slides, Bloomberg Reports

Published 03/31/2022, 03:32 PM
Updated 03/31/2022, 03:38 PM
© REUTERS

© REUTERS

By Sam Boughedda 

Investing.com -- The SPAC bringing former President Donald Trump's social media platform public, Digital World Acquisition Corp (NASDAQ:DWAC), fell 5% Thursday after a report by Bloomberg that said downloads had decreased significantly.

A report on the site said daily downloads of the app had declined 95% since launching last month.

Trump's Truth Social app launched on the Apple (NASDAQ:AAPL) App Store in February. 

According to the report, which cited research from Apptopia, downloads are now at 8,000 per day from the initial 170,000, while daily active users over the last week were 513,000. 

However, that figure may be incomplete as many have downloaded the app but are on a waiting list and do not have access to its full functionality. 

While DWAC shares are down on the day, they are up almost 570% from their debut last year, gaining 27% in 2022. 

Latest comments

Twitter
Twitter
From what I understand Twitter doesn't make money yet. I have no idea how DWAC will. I really want to short this stuff. For what it's worth The US hasn't had a decent president since Reagan and he had Alzheimer's. It's a waste of time arguing about all those other clowns.
It's a joke... I tried accessing the website and was blocked. No explanation and no access to help either. How can they go live without having a solution for Android??? It's half the user base they miss. Seems like they have very low ambitions
Who cares about traitor trump and his puketin style lies?
Real patriots. Keep hoping for war and higher prices. Ignorance is bliss.
This guy, or girl, must be a CNNLibTarrd. I'm not a biologist.
Trump is done, no matter how you cut it siding with a brutal dictator is unAmerican. MRGA is his new saying
He's not the one who sided with Putin. That was Hilary AND the Bidens. Watch more than just CNN, and get all sides of the news. You've been duped.
Wrong
Well, for first he tried to overturn the elections. That's pretty much an a "dictatorial" move...
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.