The company shares are connected to the planned social media app that was backed by former President Donald TrumpAfter the news that the app had set February 21 as its launch date, prices rose dramatically Thursday.

Blank-check Company Digital World Acquisition Corp.The stock of’s jumped nearly 20% at the end of Thursday trading, thanks to significantly more volume than average. After Trump app Truth Social posted on its Apple app store, it saw the gains and indicated that they expect to be live next month.

Reuters first reported the target date posting on the app storeTruth Social is also available in. The Federal holiday of President’s Day is February 21,

Trump’s company is being marketedAs an alternative to giants of social media Twitter FacebookBoth of them banned him for inciting the Jan. 6, 2020, riot at U.S. Capitol. Thursday marked the fifth anniversary of the attack on Congress that disrupted the confirmation of the election of President Joe BidenTrump.

DWAC and the Trump Media & Technology Group announced in October that they would merge, sending DWAC’s stock price skyrocketing from around $10 per shareStock was bought by retail investors at up to $175 per share. In recent months, however, that price fell significantly. The closing price was $60.27 per share on Thursday.

DWAC, a special-purpose acquisition company is a company that was founded with no underlying business. Its purpose was to raise capital through the stock market with the goal to identify another company with which to merge or purchase with this money in a time period of two years.

In December, DWAC made public a disclosure in a filing that two regulators of financial services, the Securities and Exchange Commission and the Financial Industry Regulatory Authority had launched investigations. stock trading and communications with Trump’s firm before the merger deal was announced.