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Source: Tada Images / Shutterstock.comDigital World Acquisition (NASDAQ:DWAC) stock isn’t doing so hot on Tuesday as investors prepare for an announcement from former President Donald Trump.
Trump is preparing for a public speech tonight and many believe he’ll announce his third run for the U.S. presidency. That would fall in line with prior rumors that the previous U.S. President was considering another run for office.
This follows a turbulent week of news for the Republican party. The GOP didn’t perform as well as expected and failed to increase its influence as much as expected. That includes several candidates that Trump had thrown his support behind.
What’s This Mean for DWAC Stock?
Investors in Digital World Acquisition are closely watching Trump’s actions. That’s due to Truth Social, the prior President’s social media platform, set for a merger with DWAC. This would take the platform public.
However, the road to a merger between the special purpose acquisition company (SPAC) and the social media platform hasn’t been smooth. Several issues, including a lack of shareholder support, have resulted in multiple delays for the deal.
Ahead of the Trump speech, DWAC stock is seeing heavy trading. This has some 2.3 million shares changing hands. That’s just above its daily average trading volume of about 2.2 million shares.
DWAC stock is down 4.1% as of Tuesday morning.
Investors looking for all of the latest stock market news will want to keep reading!
We’ve got all of that news ready to go in one place! A few examples include what’s happening with shares of Corsair Gaming (NASDAQ:CRSR) stock, UiPath (NYSE:PATH) stock, and Alibaba (NYSE:BABA) stock today. All of that news is readily available at the following links!
More Tuesday Stock Market News
- Corsair Gaming (CRSR) Stock Sinks After Public Offering Announcement
- UiPath Layoffs 2022: What to Know About the Latest PATH Job Cuts
- Why Is Alibaba (BABA) Stock Up 10% Today?
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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