|Bid||22.70 x 1800|
|Ask||23.60 x 1100|
|Day's range||22.00 - 24.50|
|52-week range||22.00 - 24.50|
|Beta (5Y monthly)||N/A|
|PE ratio (TTM)||N/A|
|Forward dividend & yield||N/A (N/A)|
|1y target est||N/A|
Former President Donald Trump is starting a social media network and streaming service called Truth Social and TMTG+, respectively, taking the companies public under Trump Media & Technology Group in a SPAC merger with Digital World Acquisition (NASDAQ: DWAC). Trump's headbutting with large media companies has been well-publicized, including his banishment from social media platforms like Twitter and Facebook (owned by Meta Platforms).
Shares of the special purpose acquisition company (SPAC) Digital World Acquisition (NASDAQ: DWAC) were down more than 15% at 11:40 a.m. EST today for no obvious reason other than a general decline in the broader market, which is having a tough day today. Digital World Acquisition announced late last year that it intends to merge with and take public Trump Media & Technology Group, which is the parent company of Truth Social, a yet-to-launch social media company backed by former President Donald Trump. Truth Social says on its website that it encourages "an open, free, and honest global conversation without discriminating against political ideology."
Digital World Acquisition closed out the session down 9.2%, while Phunware was off 12.8%. Growth-dependent and speculative stocks have seen turbulent trading lately, and the broader market was hit with big pullback today following worrying performance from some big consumer products and technology companies. There doesn't appear to be any business-specific news behind Digital World Acquisition and Phunware's share price slides, but the two companies were caught up in the broader pullback.