Why Digital World Acquisition Stock Is Soaring Today

Despite sell-offs roiling the broader market, the stock of Digital World Acquisition (NASDAQ: DWAC) is rocketing higher today. The company's shares were up roughly 15.5% at 11:45 a.m. ET Tuesday.

There doesn't appear to be any fresh news powering the gains, but excitement surrounding the stock is surging ahead of the company's merger with Trump Media & Technology Group and the launch of their social media platform, Truth Social. It's a social media service backed by Donald Trump that's on track to launch Feb. 21, and investors are pouring into Digital World Acquisition stock ahead of the debut. 

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Source Fool.com