Stock of SPAC buying Donald Trump’s Truth Social falls after Trump reinstated on Twitter

Shares of the special purpose acquisition company (SPAC) looking to take Donald Trump’s Truth Social public, Digital World Acquisition Corp. , dropped 3.1% in premarket trading, after Elon Musk reinstated Trump’s Twitter account over the weekend. The reinstatement follows a poll on Twitter held by Musk, the Chief Executive of Tesla Inc. that bought the social media company; the “yes” vote to reinstate Trump won with 51.8%. Trump had previously said he would not rejoin Twitter even if reinstated, and said after the reinstatement that he saw a lot of problems at Twitter. Digital World’s stock, has plunged 28.6% over the past three months through Friday while the S&P 500 has shed 6.2%.

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