KEY POINTS
  • The SPAC stock linked to Donald Trump's planned social media platform dropped in price after booking huge gains following news that it would merge with his social media company.
  • Digital World Acquisition Corp. stock fell double digits, days after two hedge funds sold their stakes.
  • Trump is banned by Twitter and Facebook for inciting the Jan. 6 Capitol riot.

In this article

The social media app will be developed by Trump Media and Technology Group (TMTG).

The SPAC stock linked to Donald Trump's planned social media platform sharply dropped in price Monday after booking huge gains last week following news that it would merge with the ex-president's planned social media company.

Digital World Acquisition Corp. stock fell 11% to close at $83.86 per share.

In this article