Shares of the SPAC attempting to take Donald Trump’s social-media company public fell almost 20% after the midterm elections in which some candidates endorsed by him lost or remained neck-and-neck in high-profile races, Market Watch reports.
Shares of Digital World Acquisition fell almost 18% to $23.07 in morning trading today.
Today’s decline comes after some of the former president’s picks disappointed in the midterm elections. Yet on Monday, the SPAC’s shares soared 56%, seemingly on the news that Trump may announce another run for the White House this month.
Trump endorsed some 330 candidates, most of whom were on track to win, though crucial picks in Senate races — Republicans Blake Masters in Arizona, Mehmet Oz in Pennsylvania and Herschel Walker in Georgia — were in tight races, and losses could affect how his standing is perceived. Read more.
