Digital World stock surges after Elon Musk terminates Twitter purchase

Published: July 8, 2022 at 6:15 p.m. ET

Shares of Digital World Acquisition Corp. were rocketing 17% in after-hours trading Friday after Tesla Inc. Chief Executive Elon Musk said he was terminating his $44 billion deal for Twitter Inc. . Digital World is a special-purpose acquisition corporation buying the company that operates President Donald Trump’s Truth Social business, which bills itself as a social network that “encourages an open, free, and honest global conversation without discriminating on the basis of political ideology.” Trump was banned from Twitter in the wake of Jan. 6, 2021, but Musk had signaled after initially agreeing to buy the company…

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