Trump-Tied SPAC Surge Nears 200% as Market Goes ‘Full Bonkers’

Investors are swarming back into the blank-check firm seeking to take Donald Trump’s social media company public, as the former president cements his place as the Republican frontrunner for the party’s 2024 nomination.

Digital World Acquisition Corp. has surged nearly 200% over a six-day winning streak as shares power to the highest level since May 2022. Monday’s 88% rally, after Trump’s rival Ron DeSantis quit the primary race, marked the special purpose acquisition company’s best day since its meme-stock heyday in October 2021.

The SPAC’s surge was kickstarted when the former president cruised to victory in the Iowa ...