Trump’s Media Firm Hits Record Low as Shares Plummet

Shares of Digital World Acquisition Corp. (DWAC), the company behind former President Donald Trump's media venture, Truth Social, have plunged to a record low. This steep decline marks a significant setback for Trump’s media ambitions, casting doubt on the future of his alternative social media platform.

DWAC, which had been riding high on investor enthusiasm after its initial announcement to merge with Trump Media & Technology Group (TMTG), has seen its stock price steadily decline amid mounting legal and regulatory challenges. The recent drop to its lowest level since its launch has raised concerns about the viability of the venture.

The decline in share value comes as the company faces multiple hurdles, including ongoing investigations by federal regulators into its merger with TMTG and delays in completing the deal. Additionally, investor confidence has been shaken by the platform's struggle to attract a substantial user base and generate sustainable revenue.

Despite these challenges, Trump and his team have continued to promote Truth Social as a free-speech alternative to mainstream social media platforms. However, the plummeting stock price signals growing skepticism among investors about the platform's potential to compete in an already crowded and competitive market.

As shares of Trump’s media firm reach a record low, the future of Truth Social remains uncertain, with investors and political observers closely watching how the company navigates its financial and legal challenges in the coming months.