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Trump-Linked SPAC Falls as Retail Trading Frenzy Loses Steam (1)

Oct. 26, 2021, 9:16 PM

The euphoria surrounding shares in Digital World Acquisition Corp., the SPAC tied to former President Donald Trump, is showing signs of fizzling out.

Shares of the special purpose acquisition company fell for a second day on Tuesday after skyrocketing as much as 1,225% last week, as retail traders shifted their focus to other corners of the stock market. Digital World, which is set to merge with Trump’s new social media platform, Trump Media & Technology Group, declined 30% to $59.07. It fell nearly 11% on Monday.

Digital World was still trending on trader chatroom Stocktwits and was among ...