Shares of Digital World Acquisition, the SPAC that is looking to take Donald Trump’s Truth Social public, dropped 1.6% in morning trading today toward a third-straight loss, MarketWatch reports. The pullback comes amid reports that the grand jury probing former President Trump’s role in paying hush money to a porn star isn’t expected to act today, so a vote on a potential indictment is not expected until next week.
The SPAC’s stock had dropped 2.4% on Wednesday, after saying it “terminated” Chief Executive Patrick Orlando after roughly 18 months in the role. Meanwhile, the stock’s three-day pullback comes after it bounced 11% on Monday, after the stock had closed Friday at the lowest price since October 2021. It has plunged 81.6% over the past 12 months while the S&P 500 SPX has lost 10.3%. Read more.
