Stock of SPAC buying Trump's Truth Social extends plunge after reports Twitter buyout deal is close
Shares of Digital World Acquisition Corp. tumbled 9.5% toward a six-month low in morning trading Monday, in the wake of reports that Twitter Inc. may be close to a deal to be acquired by Tesla Inc. "Technoking" Elon Musk. The special purpose acquisition company (SPAC), which announced a deal in October to acquire Trump Media & Technology Group, which launched Twitter competitor Truth Social. The stock has plunged 41.3% since Elon Musk disclosed that he bought a 9.2% stake in Twitter, while Twitter shares have run up 28.5% and the S&P 500 has dropped 7.0%.
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