Trump SPAC drops 10% after huge gains on social media merger news
stock was up only slightly in price earlier Monday, trading about 4% higher on the day before pulling back to hover back and forth on either side of the "unchanged" level at around $94 per share.That pace was a major change from last week, when DWAC shares skyrocketed from $9.96 apiece at Wednesday's close to $94.20 per share Friday — a whopping 845% rally in two days.As of early afternoon Monday, more than 55 million shares of DWAC had changed hands, according to FactSet.
DWAC that day was the most traded name on the consolidated tape of New York Stock Exchange and Nasdaq listings, by far. In another sign that the Trump-fueled craze had died down, or at least moderated a bit, the share price of the advertising software startupPhunware, which was involved with Trump's 2020 reelection campaign, saw a 470% surge in price on Friday.
There is no indication that DWAC and Phunware have a business relationship. But Phunware's rise last week coincided with the spike in the SPAC's stock.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
FaZe Clan Valued at $1 Billion After Deal to Go Public in SPAC MergerFaZe Clan says it’s a unicorn. The esports and gaming media company announced plans Monday to combine with a special purpose acquisition company (SPAC) in a deal to become a publicly traded e…
Consulte Mais informação »
Creator Group FaZe Clan to Go Public Through SPAC MergerThe group of gamers and creators will receive nearly $300 million from the merger, which it will use to fund its growth.
Consulte Mais informação »
WSJ News Exclusive | Youth-Focused Digital Platform FaZe Clan Nears $1 Billion SPAC Deal to Go PublicYouth-focused FaZe Clan is close to a SPAC merger that would take it public at a $1 billion valuation. Its backers include Pitbull and sports stars.
Consulte Mais informação »
Cowboys for Trump founder turns on Trump in public speech over Capitol riot charges'The only ones locked up were men like me, and others like me, that have stood by the president the strongest,' said Couy Griffin.
Consulte Mais informação »
Trump blasts Fox News over anti-Trump adsThe former president didn't mention which ad or ads had riled him, but several anti-Trump groups have recently bought airtime on Fox.
Consulte Mais informação »
More Trump supporters than Biden's say they have met a werewolf: PollThe poll asked 1,000 U.S. American citizens whether they believed in supernatural monsters.
Consulte Mais informação »