Trump-linked SPAC extends rally; co asks shareholders to vote 'yes' for extension

Remark Holdings

14/11/2022 15:22

** Shares of Digital World Acquisition Corp's  DWAC.O , the
SPAC which has agreed to take former U.S. President Donald
Trump's social media company public, up 6.7% at $26.78
    ** Co reminds stockholders to vote in favor of the proposal
at the upcoming special meeting of stockholders to extend the
time for completing a business combination until Sept 8, 2023 or
such date as determined by DWAC's board of directors 
    ** DWAC rallied 43.5% last week
    ** The blank check co is the most shorted SPAC in the U.S.
market, according to analytics co S3 Partners
    ** "If its stock price does not trend downwards, we should
see short covering as shorts with less conviction trim their
positions" - S3 Partners 
    ** DWAC among the top 10 active stocks on retail investor
focused forum Stocktwits.com
    ** Software developer Phunware Inc  PHUN.O , hired by
Trump's 2020 presidential reelection campaign to build phone
app, rises 8.6% to $1.52
    ** Remark Holdings  MARK.O , which has been linked to Trump
on social media sites, up 2.2%; Reuters has not independently
verified the link between Trump and Remark
    ** Canadian video-sharing platform Rumble Inc  RUM.O  down
5.5%
 (Reporting by Bansari Mayur Kamdar in Bengaluru)
 ((BansariMayur.Kamdar@thomsonreuters.com;))