Digital World Acquisition Corp DWAC shares initially surged early Wednesday before pulling back and turning negative. Former President Donald Trump announced a presidential bid for the upcoming 2024 election late Tuesday.
"Ladies and gentleman, distinguished guests and my fellow citizens, America's comeback starts right now," Trump said.
"In order to make America great again, I am tonight announcing my candidacy for president of the United States."
He critiqued President Joe Biden's time in office and highlighted many of the campaign promises that helped him take office the first time.
"Two years ago we were a great nation and soon we will be a great nation again," Trump said.
Digital World is a SPAC set to merge with the former president's Trump Media & Technology Group, which is behind the Truth Social app. Trump's speech at his Mar-a-Lago residence Tuesday night was featured on streaming platform Rumble, which partnered with Trump Media & Technology late last year.
DWAC Price Action: Digital World shares were down 5.79% at $23.91 Wednesday morning, according to Benzinga Pro.
Photo: Gage Skidmore from Flickr.
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