Fans of Digital World Acquisition (NASDAQ:DWAC) stock continue to be strung along. The special purpose acquisition company (SPAC) just announced a new deadline.
Digital World is attempting to merge with former President Donald Trump’s Trump Media and Technology Group, the company behind Truth Social. However, it has been unable to secure the number of votes needed to move forward with the combination.
This has resulted in Digital World pushing back the deadline for the vote several times. The most recent delay came in October. Now, the company has announced that the latest deadline is Nov. 22.
Truth Social May Choose Another Merger Partner
Recent reports claim that Truth Social may skip out on a deal with Digital World Acquisition. Instead, inside sources claim that it’s considering combining with other conservative social media platforms.
The two insiders mentioned are Rumble (NASDAQ:RUM) and Parler. Both are interesting candidates for different reasons.
In the case of Rumble, it already handles video services for Truth Social. Meanwhile, for Parler, investors will note that Ye (formerly known as Kanye West) is currently in talks to acquire the company.
This means fans of DWAC stock may not see a deal go through with Truth Social. Considering the ongoing delays and legal troubles, that may also not come as a surprise to many shareholders.
DWAC stock is up slightly as of Thursday morning but down 68% since the start of the year.
Investors looking for more of the most recent stock market news will want to keep reading!
InvestorPlace has them covered with the latest stock stories worth knowing about on Thursday! That includes what’s happening with shares of Virax Biolabs (NASDAQ:VRAX), Datadog (NASDAQ:DDOG) and Peloton (NASDAQ:PTON) stock today. You can read up on all of that news at the following links!
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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.