Donald Trump told followers,"I LOVE TRUTH SOCIAL" — but shareholders in the newly merged company that will own that social media app might not feel so great. The shell company Digital World Acquisition Corp. saw its share price plunge nearly 14% in the hours following shareholder approval Friday morning of a merger with the former president's social media company to take it public.
The drop could reflect concerns about whether Trump Media & Technology Group, which is being merged with DWAC, can ultimately deliver significant revenue — and whether Trump will try to cash in on his share early because of his many legal problems.Chart for price of shares in Digital World Acquisition Corp. in days leading up to and including shareholder approval of merger with Donald Trump's social media compan