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‘It’s a Trump Day’ as Stocks Tied to Ex-President Stage a Rally

Dec. 2, 2021, 3:50 PM

Donald Trump is helping to spark a rally in some stocks Thursday following a report that the former president’s media group is in talks to raise as much as $1 billion.

Digital World Acquisition Corp., the blank-check company set to bring Trump Media & Technology Group to the market, surged as much 22% after Reuters reported that the nascent social venture is holding discussions on financing. The news is boosting other stocks with ties to Trump.

For example, Phunware Inc., a software company that worked on Trump’s re-election campaign, leaped as much as 24%. And CF Acquisition Corp. ...