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Benzinga

Business

Randy Elias

Why Digital World Acquisition Stock Is Trading Lower Today

Digital World Acquisition Elon Musk Nasdaq Twitter Inc. Tesla Inc. Digital World Acquisition Corp DWAC NYSE

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

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