March 23, 2024

Donald Trump on Saturday told his many online followers, “I LOVE TRUTH SOCIAL” — but shareholders in the newly merged company that will own that social media app might not feel so great after a sharp drop in price the day before.

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.

If that drop accelerates in the coming weeks, the value of Trump’s majority stake in the newly merged company, dubbed Trump Media, could be a bit lower than the $3 billion or so estimated before shareholders signed off on the deal Friday.

Read more:

https://www.cnbc.com/2024/03/23/trump-says-i-love-truth-social-after-dwac-stock-plunges-.html