Shares of Digital World Acquisition, the company in the process of acquiring Donald Trump’s Truth Social platform, shot up after Ron DeSantis withdrew from the race for the Republican nomination for the President of the United States. On Monday, the stocks rose by 18% to $31.10 in morning trading, reaching their highest level since August 2022 – $32.92. Over the past month, the stocks have gained 84%.
The special-purpose acquisition company saw significant gains last week after Trump, the former president and current candidate, won the Iowa caucuses by a wide margin. Florida Governor Ron DeSantis, who was one of the two candidates competing with Trump for the Republican nomination, ended his campaign on Sunday and endorsed the former president. Voters in New Hampshire are set to cast their votes for Republican candidates on Tuesday, with polls indicating that Trump has an advantage over former South Carolina Governor Nikki Haley. The special-purpose acquisition company announced that it expects the merger with Trump Media & Technology Group, which manages Truth Social, to be completed in the first quarter of 2024.
This revised article presents the same information about the increase in Digital World Acquisition stocks after Ron DeSantis dropped out of the presidential race. However, it introduces new phrasing, replacing quotes with descriptive sentences. It provides a clear update that offers a fresh perspective on the matter.
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