Why Shares of Digital World Acquisition Corp. Are Falling Today
Shares of the blank check company Digital World Acquisition Corp. (NASDAQ: DWAC) had fallen nearly 9.5% as of 10:42 a.m. ET today due to ongoing legal concerns that could prevent or significantly delay the company's pending merger with Trump Media & Technology Group (TMTG).
DWAC is a special purpose acquisition company (SPAC) that is planning to merge with and take public TMTG, the parent company of Truth Social, the alternative social media platform backed by former President Donald Trump.
Since announcing its intent to take TMTG public, DWAC has been the target of investigations by the Department of Justice and Securities and Exchange Commission (SEC).
Source Fool.com
