Trump SPAC Digital World gains after Musk says Twitter deal on hold
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Trump SPAC Digital World Acquisition (NASDAQ:DWAC), which is taking Trump's social media platform public, rose 6.8% in premarket trading after Elon Musk tweeted that the Twitter (NYSE:TWTR) deal is on temporary hold.  Twitter shares plunged 14%. 
DWAC shares have been weaker since the Tesla (TSLA) boss originally agreed to purchase Twitter about a month ago on fears that Musk would allow Trump back on the social media platform that he was banned from last year. Musk on Tuesday said he would reverse Trump's Twitter (TWTR).
Although Musk would allow Trump back on Twitter (TWTR), Trump has said he doesn't plan to rejoin the platform and will instead post on his Truth Social medium. Trump was banned from Twitter (TWTR,) Facebook (FB) and Google (GOOGL) last year and following his banishment started rival platform Truth Social this year as an alternative outlet to those social-media giants.
Trump, after largely not posting on Truth Social after its launch in late February, has been more active on the app since late last month.
See from earlier Friday, Elon Musk saying Twitter deal on hold is a "circus show move."