(Bloomberg) -- Digital World Acquisition Corp. is steadying Monday after a wild 846% surge last week as retail traders piled in after it announced a merger with Trump Media & Technology Group and the former president said he was planning a new social media platform called Truth Social.
Now shares of the Trump-linked special purpose acquisition company are trading at around the $100, or nearly 10 times the SPAC’s $10 debut in September. The stock soared as high as $175 on Friday and rose as much as 29% in early Monday trading before retreating to a roughly 7.6% gain.
Read more: Love Him or Hate Him, Retail Traders Pile Into Trump-Tied SPAC
Meanwhile, shares of Creatd Inc., which announced a new non-fungible token drop that includes photos of Trump, surged as much as 69% Monday after it was talked about on StockTwits and Reddit.
©2021 Bloomberg L.P.
Advertisement