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International Business Times UK
International Business Times UK
Vinay Patel

Trump Endorses Truth Social Amid DWAC Stock Plunge: A Tale of Social Media Merger Drama

Trump's endorsement of Truth Social may not lift shareholders' spirits in the newly merged company (Credit: Wikimedia Commons)

On Saturday, Trump told his numerous online followers, "I love Truth Social." However, there might be a disconnect between Trump's enthusiasm and the feelings of shareholders as the company that recently merged with Truth Social saw a significant drop in its stock price the day before.

Digital World Acquisition Corp., a shell company, saw its share price fall by nearly 14 per cent shortly after shareholders approved a merger on Friday morning. The merger is with the former president's social media company, aimed at making it public.

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