107391513 1711118770480 Gettyimages 1643154813 Raa Donaldjt230903 Npfrs.jpeg

DWAC Stock Falls After Merger Approved

Jonathan Raa | Nurphoto | Getty Images

The price of shares in Digital World Acquisition Corp. fell by more than 12% Friday morning after the shell company’s shareholders approved a merger with the social media company owned by Donald Trump.

DWAC had opened the trading day at $44.20 per share, but tumbled to below $38 at some points after the vote.

The newly merged company, Trump Media, could begin trading under the new ticker DJT next week.

Trump holds a majority of shares in the new company, which would be worth $3 billion or more given Friday’s opening price for DWAC.

This is breaking news. Check back for updates.

Read more CNBC politics coverage

Source link

Related Posts

Leave a Reply

Your email address will not be published. Required fields are marked *