Trump Truth Social SPAC shares slide after Elon Musk revives Twitter deal

The Truth social community emblem is seen on a smartphone in entrance of a show of former U.S. President Donald Trump on this image illustration taken February 21, 2022.

Dado Ruvic | Reuters

Shares of Digital World Acquisition Corp., the special-purpose acquisition firm searching for to take Trump Media and Technology Group public, slid Tuesday after Elon Musk reversed course and proposed going by along with his deal to purchase Twitter.

Shares of DWAC fell greater than 5% Tuesday to $17.10. The inventory’s 2022 peak was about $97 in March.

Trump Media and Technology Group owns Truth Social, the platform based by former President Donald Trump after he was banned from Twitter following the Jan. 6, 2021 Capitol rebellion.

Musk has beforehand mentioned he would raise Twitter’s ban on Trump after his deal to purchase the corporate closed, which may make Truth Social pointless. Trump had about 80 million followers on Twitter. On Truth Social, he has greater than 4 million.

DWAC shareholders will vote Monday on whether or not to increase the deadline for the merger that might take Trump Media public. The deal, which has confronted authorized and monetary obstacles, misplaced not less than $138 million in personal funding after an important September deadline handed.

In a rally on Saturday, Trump indicated his firm may transfer ahead with out the DWAC deal.

“If they don’t come with the financing I’ll have it private,” Trump mentioned to supporters in Michigan. “Easy to have it private.”


Please enter your comment!
Please enter your name here

Popular Posts

Together At Last: Titans Promises a Tighter Team and Darker Foes

The Titans have confronted interdimensional demons, assassins and a famously fearsome psychiatrist, however are they ready for what’s coming subsequent? HBO Max’s Titans returns...

Tweet Saying Nets ‘Formally Released Kyrie Irving’ Is Satire

Claim: The Brooklyn Nets launched Kyrie Irving from the NBA crew on Nov. 3, 2022. Rating: On Nov. 3,...

Data intelligence platform Alation bucks economic tendencies, raises $123M

Join us on November 9 to learn to efficiently innovate and obtain effectivity by upskilling and scaling citizen builders on the Low-Code/No-Code Summit. Register...

Medieval II Kingdoms expansion release date revealed

If you’ve been itching for extra Total War gameplay, we’ve received one thing for you. Feral Interactive has lastly revealed the Total War:...