Trump-linked stocks drop as Digital World gets U.S. regulatory inquiries

Remark Holdings

06/12/2021 15:25

(Updates)
    ** Stocks linked to former U.S President Donald fall as
Digital World Acquisition Corp  DWAC.O  says it received
inquiries from U.S. regulators in late October and early
November
    ** DWAC, the blank-check company that will take Trump Media
& Technology Group Corp public by listing in New York and had
risen up to 11% premarket,slipped 5% after the news
    ** DWAC says https://www.sec.gov/ix?doc=/Archives/edgar/data/0001849635/000119312521348593/d242442d8k.htm
 that in early November, co received an SEC request for
documents related to meetings of its board as well as policies
relating to trading, banking, investor identities, and
communications between DWAC and TMTG
    ** SPAC CF Acquisition Corp VI  CFVI.O , which will take
Canadian video platform Rumble Inc public and was joined by
Trump in June, falls 2.5% 
    ** CFVI and DWAC are among the top-trending stocks on
investor-focussed social media Stocktwits.com
    ** Software developer Phunware Inc  PHUN.O , hired by
Trump's 2020 Presidential reelection campaign to build a phone
app, drops 4%
    ** Remark Holdings  MARK.O , which has been linked to Trump
on social media forums, loses 1%. Reuters could not
independently verify the link between Trump and Remark Holdings
    ** Blank-check firm Benessere Capital  BENE.O , a SPAC run
by DWAC CEO and former investment banker Patrick Orlando, falls
1%  
    ** Trump's social media venture said on Saturday it had
raised ~$1 bln from unidentified investors  urn:newsml:reuters.com:*:nL1N2SP0DN
    ** A surge in DWAC shares in October on the SPAC merger with
Trump Media prompted a rally in MARK, PHUN, BENE and other
stocks linked to the former president  urn:newsml:reuters.com:*:nL4N2RL2RA

 (Reporting by Bansari Mayur Kamdar and Anisha Sircar)
 ((BansariMayur.Kamdar@thomsonreuters.com;
Anisha.Sircar@thomsonreuters.com))