Roller coaster day for Trump SPAC stock
Friday was a bumpy one for the SPAC that recently agreed to take Donald Trump's new media company public, at one point gaining more than $4.5 billion in market value.
Inside the numbers: Shared of Digital World Acquisition Corp. (Nasdaq: DWAC) closed at $45.50 on Thursday, the first day of trading after the Trump announcement, and then opened at $118.79 on Friday before hitting a high of $166.64.
- In between, it was halted multiple times for volatility.
- It closed at $94.20 per share, for a market cap of $3.39 billion.
The big picture: DWAC still has not filed basic disclosures with the SEC, such as who will be CEO of Trump Media & Technology Group, which means these trades are more speculative than most.
Go deeper: Trump deal could be peak SPAC