News Formal

Shareholders Concerned as Trump's Social Media Company Goes Public

  • 📰 NBCNewYork
  • ⏱ Reading Time:
  • 22 sec. here
  • 8 min. at publisher
  • 📊 Quality Score:
  • News: 33%
  • Publisher: 63%

Business News

Donald Trump,Social Media,Merger

The share price of Digital World Acquisition Corp. dropped nearly 14% after shareholder approval of the merger with Donald Trump's social media company. Concerns arise about the company's revenue potential and Trump's legal problems.

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

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 270. in MY
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Trump social media merger approved by DWAC shareholders, deal could net ex-president $3 billionDan Mangan is a reporter covering politics for CNBC.com.
Source: NBCNewsHealth - 🏆 707. / 51 Read more »

Trump social media company will go public as DWAC shareholders approve mergerDonald Trump faces a looming $454 million fraud judgment in New York that state Attorney General Letitita James could start collecting on next week.
Source: NBCPhiladelphia - 🏆 569. / 51 Read more »

Trump Could Get $3.5B Windfall after Shareholders Approve Truth Social MergerSource of breaking news and analysis, insightful commentary and original reporting, curated and written specifically for the new generation of independent and conservative thinkers.
Source: BreitbartNews - 🏆 610. / 51 Read more »

DWAC stock tumbles more than 12% after Trump social media merger approved by shareholdersDonald Trump stands to reap a windfall of $3 billion or more after Digital World Acquisition Corp. shareholders voted to merger with his social media company.
Source: NBCNewYork - 🏆 270. / 63 Read more »