Digital World Acquisition stock surges another 285% as Trump SPAC rally continues for a second day

• Digital World Acquisition stock surged as much as 285% on Friday.
• The SPAC's shares closed 357% higher on Thursday after it struck a deal to acquire Trump's media startup. Its two-day increase came out to more than 1,000% at Friday intraday highs.

$4 shares jumped as much as 285% on Friday, as investors piled into the special-purpose acquisition company set to take former US President Donald Trump's media startup public.

DWAC stock already $4 357% on Thursday after the SPAC announced it was acquiring $4. The shares closed at $45.50, valuing the vehicle at about $1.5 billion - not far off the prospective $1.7 billion valuation for TMTG highlighted in the $4 about the deal.

The SPAC's two-day gain at Friday highs came out to more than 1,000%.

Trump has pitched his startup as a "rival to the liberal media consortium" and an effort to fight back against Big Tech, which he accuses of "silencing opposing voices."

TMTG intends to launch a social-media platform named Truth Social in the next few months, and later roll out an on-demand video-streaming service featuring "non-woke" news, entertainment, and other programming.

The vision for the company is to disrupt some of the most valuable and influential companies in the world, including $4, $4, $4, $4, $4, $4, and $4. Part of its mission is "galvanizing a conservative media universe," according to a "company overview" on its website that doesn't include any details of its operations or executives.

Trump was banned or suspended from nearly every major social-media site, including Facebook, Twitter, and Alphabet's YouTube, after the January 6 attack on the US Capitol. His new venture may be an effort to reenter the spotlight and secure a louder megaphone ahead of another run at the White House.