The shares of Digital World Acquisition Corp. fell nearly 11% on Monday. The action remained stable on Tuesday in the pre-market.
Digital World Acquisition Corp. is listed on the Nasdaq. It is a blank check company that exists only to merge with private companies to make them public.
Following Trump’s announcement, the company’s shares took off: they ended up 357% on Thursday and climbed even higher on Friday, hitting an intraday high of $ 175 before retreating somewhat. The firm’s shares ended over 845% for the week.
However, not everyone is excited about the deal. Iceberg Research tweeted Monday that it sees “only risks” for investors in the near future “now that the initial excitement has passed.”
– Matt Egan contributed to this report.
