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Why Shares of Digital World Acquisition and Phunware Crashed Today

Joe Tenebruso, The Motley Fool
·2-min read
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.

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