By Geoffrey Smith
Investing.com -- Donald Trump's new media company formally announced the launch of its social media app, restoring what it hopes will be a mass-market platform to the former U.S. President.
Trump Media&Technology Group (NASDAQ:DWAC) said the launch of the Truth Social Web App will allow "all Americans to access Truth Social from any Internet-connected computer, phone, or device," adding that "the launch comes in advance of the originally anticipated May 31 target date."
TMTG has struggled to sustain its initial gains since Trump decided to list the company through Digital World Acquisition Company, a SPAC that was launched in September.
In a filing released on Tuesday, TMTG had said Trump had committed to post on the new app before any other platforms. This would stop him from using Twitter (NYSE:TWTR) as his primary platform, if the microblogging site lifts its permanent ban under new management led by Elon Musk. Musk's own bid for Twitter is, however, stalled due to financing issues and Musk's belated accusations that Twitter has made misleading filings about the prevalence of spam and fake accounts.
TMTG's filing had also warned of bankruptcy risk, noting the previous bankruptcies of companies controlled by Trump.