Oct 22, 2021 - Economy

Roller coaster day for Trump SPAC stock

Source: YCharts; Chart: Axios Visuals
Source: YCharts; Chart: Axios Visuals

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.

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