Donald Trump-Linked DWAC Sees High Volatility Amid Former President's Most Recent Indictment
Portfolio Pulse from Melanie Schaffer
Digital World Acquisition Corp (DWAC) experienced high volatility, spiking 4.19% before closing down 0.7% on Friday, amid former President Donald Trump's indictment on multiple federal charges. The SPAC is expected to merge with Trump's Trump Media & Technology Group (TMTG), which owns Truth Social. The stock formed a triple bottom pattern near $12.80, suggesting a bounce could be possible.
June 12, 2023 | 12:28 pm
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DWAC experienced high volatility amid Trump's indictment, forming a triple bottom pattern near $12.80, suggesting a potential bounce.
The high volatility in DWAC is due to the recent indictment of former President Trump, which may affect the future of Trump Media & Technology Group (TMTG) and its merger with DWAC. The triple bottom pattern suggests a potential bounce, but the overall impact on the stock price remains uncertain due to the ongoing legal situation.
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