SPAC tied to Trump's Truth Social sees stock plummet

Monday was a good day for Elon Musk, but not for former President Donald Trump. Shares of Digital World Acquisition Corp. — the SPAC trying to take Trump's fledgling media venture public — fell 13% to $35.71.

Why it matters: Digital World Acquisition Corp.'s stock price has been cut in half over the past month. It was trading at around $72 per share on March 24.