DWAC Stock Price: Digital World Acquisition extends decline as investors lose patience


  • NASDAQ:DWAC fell by % during Tuesday’s trading session.
  • Truth Social could see its merger fall apart if Trump decides to leave.
  • Twitter is working to restore full access to Russian citizens.

NASDAQ:DWAC was a bubble that was a ticking time bomb to burst as the SPAC stock was trading at well above a reasonable valuation. On Tuesday, shares of DWAC saw the second straight day of losses as the stock fell by % and closed the trading session at $. Some would say it has been a long time coming for the pre-merger SPAC that peaked at $175.00 back at the end of October. It was another wild ride for investors on Tuesday. The markets seemed to be rallying after a red start to the day, but a late-day tumble saw the Dow Jones give up a 585 basis point gain to close the session back in the red. The S&P 500 edged lower by %, while the NASDAQ managed to eke out a small gain of %.


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Much has been made about the bumpy launch of former President Trump’s social media platform, Truth Social. As more than a million people sit stagnant on the waiting list, the interest in the app has turned mostly negative. Trump himself is apparently livid at the botched launch, and some believe that he could pull out of the deal with DWAC altogether. This would surely send shares of DWAC tanking, which is likely why shareholders are exiting with their gains now, rather than see this out until the end.

DWAC stock forecast

DWAC Stock

While other major social media platforms like Facebook have closed off Russia from accessing its site, Twitter (NYSE:TWTR) continues to provide access to Russian citizens. Russian users were saying that their access to Twitter was being limited, but the company came out to say that this was likely due to the site being blocked by a Russian Communications Regulator, rather than issues with the site itself.


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