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Why Shares of Digital World Acquisition Corp. Are Rising Today

TheMotleyFool

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Why Shares of Digital World Acquisition Corp. Are Rising Today: https://g.foolcdn.com/editorial/images/685187/generic-upward-7-getty.jpg

Shares of the shell company Digital World Acquisition Corp. (NASDAQ: DWAC) were up by 10.3% as of 11:48 a.m. ET Wednesday. Investors appeared to be buying the dip after what has been a big sell-off. Even with the morning's gains, the stock is still down more than 31% over the last five days.

DWAC is the special purpose acquisition company (SPAC) planning to merge with Trump Media & Technology Group (TMTG), the parent company of Truth Social, an alternative social media platform backed by former President Donald Trump.

Image source: Getty Images.

Source Fool.com

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