Shares of the blank-check company linked to former President Donald Trump were hammered just as he was arraigned and arrested yesterday.
Nasdaq-listed Digital World Acquisition — planning to merge with Truth Social holding company Trump Media and Technology Group — closed 8% lower at $14.03, Business Insider reports.
The stock’s performance is a sharp reversal from Friday when Digital World’s shares soared 11%, post Trump’s formal indictment. Friday’s rally could have been driven by speculation that the indictment would prove positive for Trump Media and Technology Group’s business.
Shares had fallen more than 3% today in afternoon trading. Read more.
