Donald Trump SPAC Digital World Pops On Former President's Post: What's Going On?

Digital World Acquisition Corp DWAC shares moved higher Monday after former President Donald Trump suggested he could announce a presidential run for the upcoming 2024 election as soon as Tuesday. 

What To Know: At the beginning of last week, shares of Digital World soared on reports that the former President planned to announce another presidential run.

Many thought Trump might announce a presidential run to be part of midterm election conversations last week, but the week passed without a formal announcement, which weighed on Digital World shares. Multiple candidates who were endorsed by Trump failed to prevail in the midterms, which may have delayed an announcement.

Digital World is a SPAC set to merge with the former president's Trump Media & Technology Group, which is behind the Truth Social app. According to Benzinga Pro, Trump posted on the platform Monday saying, "hopefully, tomorrow will turn out to be one of the most important days in the history of our Country!"

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DWAC Price Action: Digital World shares closed up 10.9% at $27.83, according to Benzinga Pro.

Photo: Gage Skidmore from Flickr.