Why Digital World Acquisition Stock Is Trading Lower Today

Trump Media Merger Partner Digital World Acquisition Corp. DWAC shares are trading lower amid Tesla, Inc. TSLA CEO Elon Musk purchasing a 9.2% stake in competitor Twitter, Inc. TWTR.

Musk bought 73,486,938 Twitter shares with the sole power to vote for nearly $3 billion, reportedly making Musk the largest Twitter shareholder.

Over the past 5 trading sessions, Digital World Acquisition shares have been experiencing some weakness. According to data from Benzinga Pro, the stock has fallen approximately 23% over the past 5 trading sessions.

Digital World Acquisition shares were trading about 13% lower at about $54.80 per share on Monday at the time of publication.