Donald Trump media SPAC surges over 800%, valued beyond $8 billion

CNBC’s Leslie Picker joins ’Squawk Box’ to report on the latest moves of  Digital World Acquisition Corp., the SPAC taking former President Donald Trump’s media company public. For access to live and exclusive video from CNBC subscribe to CNBC PRO: Digital World Acquisition Corp., the SPAC that is taking former President Donald Trump’s planned social media platform public, soared for a second day Friday as retail traders continued to pile in. The SPAC, which trades under the ticker DWAC on the Nasdaq, skyrocketed 284% at one point and closed up 107% at $94.2 a share. Trading in the stock was halted due to volatility multiple times. Friday’s rally brought the SPAC’s two-day gains to more than 800%. The Trump effect wasn’t limited to DWAC. Phunware, the advertising software startup involved with Trump’s 2020 reelection campaign, jumped in unison with DWAC. The stock rallied whopping 471% to $ per share Friday, bringing its gains t