Truth Social, a social media platform owned by Trump Media and Technology Group (DWAC), launched on Monday. The app was made available for download from the Apple (AAPL) App Store to a limited number of subscribers who had preordered, while others on a waiting list will be given access over time. Truth Social went live a year after former President Donald Trump was banned from Twitter (TWTR), Facebook (FB), and YouTube (GOOGL).  

TRUTH SOCIAL LAUNCHES WITH WAITING LIST: Former President Donald Trump’s social media app launched Monday as his Truth Social app was offered for download from the Apple App Store to a limited number of subscribers who had preordered, Associated Press' Bernard Condon reported. Others who were added to a waiting list are to be given access over the next 10 days, the author noted. According to the publication, the site encountered technical glitches shortly after launch, with reports that subscribers were shut out for hours. Others had trouble signing on. The site is not expected to be open to anyone who wants to download it until next month, Condon wrote.

“Due to massive demand, we have placed you on our waitlist. We love you,” read a message to those trying to access the platform. Truth Social allows users to post and share a “truth” the same way they would do so with a tweet.

Devin Nunes, the former Republican congressman who quit to become the CEO of Trump's media company, said last week Truth Social expects to be "fully operational" by the end of March, when "anyone can get on the platform within the United States at any time, CNN's Brian Fung reported.

TRUMP MEDIA SPAC DEAL: Late last year, Digital World Acquisition Corp. announced that the special purpose acquisition company would merge with and bring public Trump Media & Technology Group. The transaction valued Trump Media & Technology Group, at the time, at an initial enterprise value of $875M, including debt, with a potential additional earnout of $825M in additional shares at the valuation they are granted for a cumulative valuation of up to $1.7B depending on the performance of the stock price post-business combination.

PRICE ACTION: On Tuesday morning, shares of Digital World Acquisition Corp. have gained about 3% to $87.13.