2023-03-20 14:53:13 ET
Trump SPAC Digital World Acquisition ( NASDAQ: DWAC ), jumped 14% amid speculation that former president may be arrested in New York on Tuesday over alleged hush money he paid to women before the 2016 election.
Trump noted in a Truth Social posting on Saturday that "illegal leaks" indicate that he will be arrested on Tuesday. A Trump spokesman told Reuters on Monday that the former president had not been notified of any arrest.
Bloomberg reported on Monday that New York City police erected security barricades outside Manhattan Criminal Court and Manhattan District Attorney Alvin Bragg’s office
Shares of Digital World ( DWAC ) have plunged 86% since hitting highs in early March of last year as investors are concerned about delays in completing its deal to take Trump Media & Technology public and Trump's likely return to competing social media platforms such as Twitter and Facebook ( META ) after he was banned following the attack on the U.S. Capitol in January of 2021.
On Friday Google-owned ( GOOGL ) YouTube lifted its restrictions on Trump's YouTube channel and Trump was allowed to post videos on the site.
Shares of Digital Ally ( DGLY ), which is in the business of video solutions for law enforcement, including body and car cameras, rose 10%, amid speculation there that may be protests if Trump is arrested.
Digital World warrants ( NASDAQ: DWACW ) gained 22%.
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Trump SPAC DWAC gains amid speculation former president may be arrested Tuesday