Shares of the special purpose acquisition company (SPAC) Digital World Acquisition (NASDAQ: DWAC) were down more than 15% at 11:40 a.m. EST today for no obvious reason other than a general decline in the broader market, which is having a tough day today.
Digital World Acquisition announced late last year that it intends to merge with and take public Trump Media & Technology Group, which is the parent company of Truth Social, a yet-to-launch social media company backed by former President Donald Trump.
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Why Shares of Digital World Acquisition Are Falling Today