- Trump SPAC Digital World Acquisition ( NASDAQ: DWAC ), which is taking Trump's social media company and Truth Social app public, slid 18% as a Red "wave' in the Tuesday election may not happen.
- The drop at least partly reversed a 66% gain on Monday after former President Donald Trump hinted at weekend rallies that he would soon be announcing his re-election campaign for 204. Trump also announced at a Monday event that he planned to make big news next Tuesday at Mar-a-Lago.
- Digital World shares have plunged 77% this year after reaching highs in early March as the social media company has been involved in regulatory probes and amid potential competition from a Twitter ( TWTR ) run by Elon Musk, who has previously said he would allow Trump back on the platform.
- Last Thursday DWAC again adjourned a holder vote on an extension for its deal to take Trump's social media company public as it works to get more holder votes. The meeting was adjourned until Nov. 22.
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Trump SPAC Digital World drops 21% as Red 'wave' may not happen