Trump’s Truth Social Buys More Time As Stock Rises
The two-year saga involving a proposed deal to take Donald Trump’s Truth Social platform public just got even longer.
Truth’s social Spac rises on the news
Trump's Truth Social Buys More Time As Stock Rises#stockstowatch #TruthSocial pic.twitter.com/L52oRlat3N
— The_Journalbiz (@the_journalbiz) September 5, 2023
Factset chart on DWAC
Shareholders voted to give the special-purpose acquisition company trying to take the former president’s media firm public another year to complete the merger. Digital World Acquisition Corp. previously faced a deadline of Friday to finish the deal.
Digital World shares rose about 3% to around $17 following the news and remain roughly 70% above where the SPAC began trading.
The stock is at a fraction of its intraday peak of $175 from right after the deal was first announced nearly two years ago.
