SPAC Stock ( NASDAQ:DWAC )
SPAC ( NASDAQ:DWAC ), the business bringing Trump’s social media company and Truth Social app public, dropped 2.5% on Friday ahead of a vote on the company’s plans to go public scheduled for Monday.
After being postponed many times last month, the shareholder vote to extend the time SPAC ( NASDAQ:DWAC ) has to conclude a deal to take Trump’s social network firm public is set for Monday.SPAC stock was unable to get the necessary voting approval from shareholders. Thus, the meeting was postponed.
Since Tuesday, billionaire Elon Musk said he intended to acquire Twitter for its initial $44 billion price tag. SPAC stock has declined by 5%. Investors may be encouraged by the prospect of Trump’s return to Twitter, given that he had nearly 80 million followers before being banned from the network.
In an interview with the Financial Times published on Friday, Musk took aim at Truth Social, where the ex-president has amassed 4.15 million followers.
Musk told the publication, “It is simply a right-wing echo chamber.” One possible alternative name is Trumpet.
President Trump indicated in April that he wouldn’t use Twitter again, even if Musk were to reactivate his account. If Trump’s $44 billion takeover of the social media network goes through, as Musk promised in May, Musk would undo the restriction.
SPAC stock investors have been fighting to approve the me...
Click here to read the full article on PressReach.com .Subscribe to the PressReach RSS feeds:
- Featured News RSS feed
- Investing News RSS feed
- Daily Press Releases RSS feed
- Trading Tips RSS feed
- Investing Videos RSS feed
Follow PressReach on Twitter
Subscribe to us on Youtube
PressReach Disclaimer .