Former PresidentDonald Trumpis clearly seething at his indictment by a Manhattan Grand Jury over theStormy Danielshush money case but that does not seem to have impacted the stock price of a social media company linked to him.
What Happened: Trump, in the wee hours of Friday, took to Truth Social and posted, "WHERE'S HUNTER?" seemingly a reference toHunter Biden, the son ofPresident Joe Biden, who Trump has accused of many misdemeanors while his father was in office.
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Social Surge: Shares ofDigital World Acquisition CorpDWAC , a blank-check company expected to mergewith Trump's Truth Social, spiked as much as 11.7% in after-hours trading and was last up nearly 10% at $14.35.
The Context:Ahead of the 2020 Presidential Election results, Facebook and Twitter sparked a row byrestricting a New York Post storyabout the younger Biden introducing his father to a Ukrainian businessman while he was still the vice president based on email and data extracted from a laptop left at a Delaware repair shop.
Trumpalleged the FBI buried the storybefore the election, realizing that if it wasnt done before the election, he would have "easily won" the election. The former president has also alleged Hunter Biden of using his position of influence to secure the financial backing of China for his investments, although the latter has denied any wrongdoing.
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