Trump-linked stocks lose ground as 'red wave' hopes fade

Remark Holdings

09/11/2022 14:24

** Shares of Digital World Acquisition Corp  DWAC.O , which
is looking to take Trump's social media venture public, slump
18% to $23 premarket
    ** Republicans made modest gains in U.S. midterm elections
but Democrats performed better than expected, with Republicans
acknowledging that the election was not producing the sweeping
"red wave" victory they had sought  urn:newsml:reuters.com:*:nL1N3250I7
    ** The blank check firm rallied earlier this week on reports
Trump is considering launching a third bid for the White House
this month  urn:newsml:reuters.com:*:nL4N3232YY
    ** Canadian video platform Rumble Inc  RUM.O , which is
popular with conservatives, drops 8.2%
    ** Software developer Phunware Inc  PHUN.O , which was hired
by Trump's 2020 presidential re-election campaign to build a
phone app, shed 4.3%
    ** DWAC, RUM and MARK were among the top trending tickers on
retail investor focused social media forum Stocktwits
    ** Vanda Research said retail investors bought $11 bln worth
of DWAC in the past two trading sessions, the largest purchases
at least this year
 (Reporting by Medha Singh)
 ((medha.singh@thomsonreuters.com))