Digital World Acquisition (NASDAQ:DWAC) stock is in the news today as investors wait for another potential catalyst next month.
Digital World Acquisition has been attempting to get enough votes from shareholders to move forward with a special purpose acquisition company merger (SPAC). This has it planning to combine with former President Donald Trump’s Trump Media & Technology Group.
A merger between these two companies would take Trump Media & Technology Group public. However, shareholders haven’t been willing to vote in favor of the deal. Digital World Acquisition has even asked for support from Trump directly, but it’s still running into trouble.
As a result, the company had to adjourn a shareholder meeting yesterday to vote on the planned SPAC merger. With that, the next shareholder meeting is set for Nov. 3 and DWAC could see major movement depending on how shareholders act.
Trouble Brews for Trump’s Social Media Platform and DWAC Stock
William Wilkerson, the senior vice president of operations at Trump Media & Technology Group, was recently suspended. This comes after he spoke with the Miami Herald about the future of the company.
According to a report, he violated the terms of his employment agreement. It’s worth mentioning that during his interview with the publication, Wilkerson said Trump’s new firm would go bankrupt. His suspension comes with a warning that the company’s Board is considering his termination.
DWAC stock is largely unmoved as of Tuesday afternoon.
Investors will want to keep reading for more of the latest stock market news on Tuesday.
We’ve got all that news ready to go in one place! That includes what has shares of software stocks, Dragonfly Energy (NASDAQ:DFLI) stock, and Vox Royalty (NASDAQ:VOXR) stock on the move today. You can find out more on these matters at the following links!
More Tuesday Stock Market News
- Why Are Software Stocks ZS, SNOW, RBLX, TEAM Down Today?
- DFLI Stock Alert: What to Know as Battery Maker Dragonfly Energy Starts Trading
- What Is Going on With Vox Royalty (VOXR) Stock Today?
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
