Elon Musk’s quest to become a social media mogul is dealing a blow to Donald Trump’s social venture.
Shares of Digital World Acquisition Corporation, the controversial blank-check firm that plans to merge with Trump Media & Technology Group, fell 13% on Monday to close at $35.71. That's the lowest level since the Trump deal was announced last October — and the selloff comes as Musk reaches a deal to take over Twitter, one of the Big Tech companies Trump had vowed to take on. At one point, the stock was down as much as 19%.
" There is even speculation that Twitter, under Musk's control, could lift the ban on Trump himself.Trump's social media venture is still struggling to get off the groundTrump weighed in on the issue on Monday, telling Fox News he will not return to Twitter despite Musk's takeover. "I am not going on Twitter, I am going to stay on Truth," Trump told Fox News.
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