Trump-Linked SPAC Cools Down After Short Position Emerges
- Digital World Acquisition shares soared again but settled back
- Company that drops Trump NFT also gets meme-stock bounce
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Digital World Acquisition Corp. pulled back Monday following a wild 846% surge last week after a short-seller said it was betting against the Trump-linked special purpose acquisition company.
Shares of Digital World are trading around $89, or nearly nine times the SPAC’s $10 debut in September. The stock, which had traded as high as $122 earlier in the session and $175 on Friday, slipped Monday afternoon as Iceberg Research said on Twitter that it was short DWAC.