The Big Picture

Vincent Boland: Deflating Spac bubble takes the air out of Trump’s stock market plans

Special-purpose acquisition companies, or ‘blank cheque’ entities, came into their own during the pandemic, but as with other lockdown booms, their days are numbered

Donald Trump: failure to get his new social media platform onto the stock market could mean he and the other investors in Trump Media and Technology Group miss out on a potential $1.3 billion windfall. Picture: Getty

“Your favourite president will see you soon!” That was the first message posted on Donald Trump’s new social media platform, by the man himself, when it launched in February. Truth Social, as the venture is known, was to be the disgraced former president’s route back to the centre of the social media world after he was booted from Twitter. And it is all going a bit pear-shaped.

Truth Social is up and running, at least ...