Twitter () is a key factor when former President Donald Trump won the presidential election six years ago.
Trump, who made tweeting without supervision the focus of his office, he apologized often for bias on the microblogging website.
Eventually, he was in the wake of the January 6 insurrection "due to the possibility of further incitement to violence."
He has since attempted, with varying degrees of success, to create competing social media platforms that correspond to Twitter and Facebook's features.
Trump's own social media business, led by a special-purpose acquisition business, Digital World Acquisition Corp (), which began trading in October 2021.
Is there any concern for Truth about social investors?
Ever since Twitter's announcement and Tesla () - Chief Executive Elon Musk's announcement began at the beginning of April, interest in Trump's return to his favorite day of tweeting has reached a fever pitch.
The narrative has resulted in significant losses for Trump's Digital World Acquisition Corp, which was planned to eventually merge with Truth Social.
Musk owns a nearly 10% share in Twitter and Digital World Acquisitions since April 4.
After the regulators approved the deal, it is peak, and some are concerned that it will ever be possible to merge with Truth Social at all.
The Truth Social app itself has trouble logging in users, showing content, and displaying error messages.
The company has accelerated as Musk's introduction to Twitter intensifies.
Trump took a more than half share in the Securities and Exchange Commission after initial filings.
A more detailed prospectus of who owns what from a consortium of institutional investors and private investment in public equity (PIPE) stakeholders will reveal who exactly is losing how much money on DWAC's nosedive.
Twitter Could Be the Truth Social's Death Knell
Since Twitter's agreement with Musk has been concluded, the firm has continued to skid.
DWAC's stock fell as much as 20% in the afternoon immediately following the announcement on April 26, a day after the official takeover.
The $44 billion Musk/Twitter contract is likely to cause even more confusion for the already-increasing SPAC and Truth Social, if not completely spell its demise.
"Twitter becoming open to a large variety of voices is likely to be the last nail in Truth Social's SPAC's coffin," said AlphaTrAI's Chief Investment Officer, Max Gokhman.
"It's difficult to see any gain for them owing to all of the internal issues with even developing a robust social platform and now the possibility that Twitter will allow a broad spectrum of discourse," said Gokham.