Trump fans flooded into a SPAC that agreed to take Truth Social public, and could lose their investments if the app doesn’t get its act together.
The SPAC is said to be under federal investigation and yesterday missed a filing deadline because of what it said were accounting delays.
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Shares of that SPAC are down 35% since March 4, and down 64% from their all-time high, including a 2% dip on Friday.
Behind the scenes: Sources tell Axios that tech issues are likely what’s preventing the app from being released to all interested users.
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