Buy the rumor, sell the news on DWAC stock after Truth Social deal approved.

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The price of shares in Digital World Acquisition Corp.
closed trading Friday nearly 14% lower than their opening price after the shell company’s shareholders approved a merger with the social media company owned by former President Donald Trump.

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DWAC had opened the trading day at $44.20 per share, but quickly tumbled on the heels of the vote.

By the market close, DWAC shares were selling for $36.94 per share, a drop of $5.87, or 13.71%

The newly merged company, Trump Media, could begin trading under the new ticker DJT next week.

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