Updated On: 24 October, 2021 09:15 AM IST | New York | Agencies
It’s a piling-in effect. Everyone is just hoping the next person who comes is willing to pay more, said Briefing.com analyst Patrick O’Hare

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A new investment vehicle linked to Donald Trump’s fledgling media venture soared again on Friday in a frenzy that reflects the former president’s staying power, as well as a stock market increasingly prone to casino-like tendencies.
Shares of Digital World Acquisition Corp, which is set to merge with Trump’s Media & Technology Group (TMTG) startup, surged prompting a temporary trading halt for a second straight day. Shares ended at $94.20, more than doubling its value from Thursday and more than nine times the price on Wednesday afternoon before the venture was announced. “It’s a piling-in effect. Everyone is just hoping the next person who comes is willing to pay more,” said Briefing.com analyst Patrick O’Hare.