01/22/2024

Trump-linked Stock Soars after DeSantis Throws in the Towel

The stock jumped 55 percent to $41

Shares of Digital World Acquisition opens new tab, the blank check firm set to take former President Donald Trump's social media platform public, soared to their highest in 19 months on Monday after Florida Governor Ron DeSantis ended his 2024 presidential bid.

The stock jumped 55 percent to $41, its highest since June 2022, after DeSantis on Sunday stopped his campaign just two days before the pivotal New Hampshire primary. DeSantis also endorsed Trump over rival Republican hopeful Nikki Haley.

Digital World has now more than doubled over the past five trading sessions as the former president gained momentum in his bid to become the Republican candidate in November's general election.

Please select this link to read the complete article from Reuters.