Donald Trump-Linked SPAC Digital World Jumped 11% Today: What Happened?

Digital World Acquisition Corp DWAC shares traded higher Monday after former President Donald Trump said he expected to be arrested on Tuesday over alleged hush-money payments to a porn star in 2016.

Over the weekend, Trump told followers on his Truth Social platform that he heard about the arrest plans from the "corrupt" Manhattan district attorney’s office. The former president, who plans to run again in 2024, called on his supporters to protest the impending arrest. 

"PROTEST, TAKE OUR NATION BACK," Trump wrote in a Truth Social post.

On the heels of the Trump news, Tesla CEO Elon Musk responded to a tweet suggesting that if the former president were to be arrested, it would be the start of his re-election.

"If this happens, Trump will be re-elected in a landslide victory," Musk wrote in response to the tweet.

Digital World is a SPAC expected to merge with the former president's Trump Media & Technology Group, which is behind the Truth Social app. 

See Also: After Trump Calls For Protests Over Possible Arrest, Manhattan DA Warns Against Intimidation

DWAC Price Action: Digital World has a 52-week high of $74.80 and a 52-week low of $12.34.

Digital World shares closed Monday up 11% at $13.87, according to Benzinga Pro.

Photo: Gage Skidmore from Flickr.