Trump-Linked Digital World Is Trading Lower: What's Going On Today?

Digital World Acquisition Corp DWAC shares are pulling back Tuesday following a nearly 200% increase over the last six trading sessions. Here’s a look at what’s going on.

What To Know: Digital World shares have been moving higher as a return to the White House for former President Donald Trump looks increasingly likely. Digital World is set to merge with Trump Media & Technology Group, which owns alternative social platform Truth Social.

Digital World shares ripped higher to start the week after Florida Gov. Ron DeSantis ended his presidential campaign and endorsed the former President on Sunday.

“He has my endorsement because we can't go back to the old Republican guard of yesteryear,” DeSantis said in a social post on X, taking a shot at former South Carolina Gov. Nikki Haley.

The news came less than a week after Trump easily won the Iowa caucus with more than half of the total vote. DeSantis was Trump's closest competitor with around 21% of the vote. Haley was the next closest candidate with about 19% of the vote. Trump's dominating win set a new record for victory margins in the Iowa Republican caucus.

The latest Morning Consult poll showed that Trump currently holds a huge lead in the Republican primary race with approximately 75% of support. Haley is the now the closest competitor to Trump with 12% of support.

Trump and Haley are facing off in New Hampshire’s pivotal 2024 primary Tuesday. Results are expected around 8 p.m. ET Tuesday night.

Check This Out: Trump To Win New Hampshire GOP Primary In Landslide? What Crypto Bettors Are Predicting

DWAC Price Action: Digital World shares appear to be taking a breather after rallying nearly 90% on Monday. The stock was down 13.4% at $43.61 at the time of publication, according to Benzinga Pro.

Photo: Gage Skidmore from Flickr.