Digital World Acquisition Corp stock sinks ahead of Donald Trump’s arraignment

Yahoo Finance Live anchors Brad Smith and Jared Blikre discuss the decline in stock for Digital World Acquisition Corp (DWAC).

Video transcript

- We're also watching shares of DWAC today, known commonly as D-WAC, as we await former President Trump's arraignment. This of course, one of the ticker symbol tied to Truth Social. It's down by about 7 and 1/2% here on the day, Jared.

JARED BLIKRE: Yeah, so the Form 10-K, that has to be filed annually with the forms with the firm's financials, they were not able to do that on time so they filed for an automatic grace period of 15 days. And that's going to be granted here. So not the worst of all situations, but come 15 days from now, they're going to want to file that; otherwise, it puts their listing in jeopardy. And we've seen huge volatility with this stock, with this SPAC that's come to market here. And so we'll have to see what comes of this. But reacting to the news that they were not able to file their financials on a timely fashion just yet.