Shares of Digital World Acquisition Corp., the special-purpose acquisition company (SPAC) that is looking to take Donald Trump’s Truth Social public, dropped 1.6% in morning trading Thursday toward a third-straight loss. The pullback comes amid reports that the grand jury probing former President Trump’s role in paying hush money to a porn star isn’t expected to act on Thursday, so a vote is not expected until next week. The SPAC’s stock had dropped 2.4% on Wednesday, after saying it “terminated” Chief Executive Patrick Orlando after roughly 18 months in the role. Meanwhile, the stock’s three-day pullback comes after it bounces 11.0% on Monday, after the stock had closed Friday at the lowest price since October 2021. It has plunged 81.6% over the past 12 months while the S&P 500 SPX has lost 10.3%.
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