A listed special purpose acquisition company linked to former President Donald Trump is on track to post a massive weekly decline.
Digital World Acquisition (DWAC) closed down nearly 7% Friday to just under 68 a share. This means it fell 28% this week.
Indeed, it is on track to finish more than 61% off its all-time high of 175, which it reached last Friday.
Earlier this week Trump outlined his plans for social media site Truth Social. He boasted he will offer a "Big Tent" platform as he locks horns with the likes of Facebook (FB) and Twitter (TWTR). [snip]
Digital World Acquisition skyrocketed last week on the news it will serve as a vehicle to take the Trump Media & Technology Group public via a merger.
Beyond the Malignant Loser's magic touch, it's possible DWA's collapse is partially a result of an issue with making the =snicker= "Truth Social" =snicker= software's source code public. If it's not done in 30 days, it'll have its software license revoked, resulting in failure to launch.
That would follow the Malignant Loser's short- lived micro blog attempt "From the Desk of Donald J. Trump" (which folded in less than a month), his failing Jason Miller- fronted social media platform "GETTR," as well as Business Hall of Shame entries Trump University, Trump Steaks, real estate losses associated with his toxic brand, multiple bankruptcies, and serious exposure to criminal and civil charges related to the corrupt shell of the Trump Organization, just to hit the lowlights.
No matter, the effort will certainly earn a spot in this Donald J. Trump Library, perhaps in the Everything Trump Touches Dies (ETTD) gallery.
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