DWAC shares fall after merger approval
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price of shares in Digital World Acquisition Corporation The stock fell as much as 12% Friday morning after the shale company’s shareholders approved a merger with the social media company owned by former President Donald Trump.
DWAC started the trading day at $44.20 per share, but fell to below $38 at points after the vote.
The newly merged company, Trump Media, may begin trading under the new ticker DJT next week.
Trump owns a majority of the shares in the new company, which would be worth $3 billion or more, given Friday’s opening price for DWAC.
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