So here's the headline:
www.cnbc.com
And here's what happened: She knew, along with many others, that Trump was going to buy DWAC. So she and a bunch of others hurl their money into DWAC stock. Here's what happened next.
Rep. Marjorie Taylor Greene bought shares of Trump SPAC Digital World Acquisition as stock skyrocketed
Republican Rep. Marjorie Taylor Greene on Friday invested up to $50,000 in the SPAC stock linked to Donald Trump's planned social media platform.
And here's what happened: She knew, along with many others, that Trump was going to buy DWAC. So she and a bunch of others hurl their money into DWAC stock. Here's what happened next.
According to a public disclosure, the Georgia Republican purchased a stake in Digital World Acquisition Corp., or DWAC, on Friday. The stake is worth at least $15,000 but no more than $50,000.
DWAC, a special purpose acquisition company, last week said it would merge with a new social media company Trump said he has planned, the Trump Media & Technology Group.
That triggered a buying mania among retail investors in DWAC shares over two days last week, which drove the stock up more than 800%. The SPAC was at one point the most traded name on Fidelity’s platform, and the ticker DWAC has been among the most mentioned on Reddit’s WallStreetBets chatroom.
But based on DWAC’s price fluctuations and when Greene said she made her investment, on Friday, it’s almost certain she has lost money on the trade.
On Friday, DWAC opened at $118.80 a share and dipped as low as $67.96 a share. It ended Wednesday’s session at $64.89 a share. That means, at best, Greene has lost about 4.5% on her investment.
Greene’s office offered little clarity on the trade when asked for comment Wednesday morning.
