By Sam Boughedda
Investing.com -- The SPAC bringing former President Donald Trump's social media platform public, Digital World Acquisition Corp (NASDAQ:DWAC), fell 5% Thursday after a report by Bloomberg that said downloads had decreased significantly.
A report on the site said daily downloads of the app had declined 95% since launching last month.
Trump's Truth Social app launched on the Apple (NASDAQ:AAPL) App Store in February.
According to the report, which cited research from Apptopia, downloads are now at 8,000 per day from the initial 170,000, while daily active users over the last week were 513,000.
However, that figure may be incomplete as many have downloaded the app but are on a waiting list and do not have access to its full functionality.
While DWAC shares are down on the day, they are up almost 570% from their debut last year, gaining 27% in 2022.