Why Shares of Digital World Acquisition and Phunware Crashed Today
Digital World Acquisition (NASDAQ: DWAC) and Phunware (NASDAQ: PHUN) both saw their stock prices rocket over 1,000% at one point last week, as investors' excitement for the special purpose acquisition company (SPAC) and advertising software provider that are linked to former President Donald Trump reached a fever pitch. The decline in Digital World Acquisition's stock price appears to have been sparked by comments made by Trump before the market opened.
