Trump-linked stocks reverse early gains

Remark Holdings

16/11/2022 15:34

(Updates)
    ** Stocks linked to former U.S. President Donald Trump gave
up premarket gains to trade lower in the first hour of trading 
    ** The stocks had initially rallied as Trump launched a
presidency bid for 2024 
    ** The likelihood of a Trump victory has been slimmed after 
candidates supported by him failed in the latest midterm
elections. Therefore, I believe the kneejerk reaction will
remain short lived- Ipek Ozkardeskaya, senior analyst at
Swissquote
    ** Shares of Digital World Acquisition Corp  DWAC.O , the
blank check company that agreed to take Trump's social media
company public, dropped 4.5%
    ** Remark Holdings  MARK.O , which has been linked to Trump
on social media sites, down 2.6%. Reuters has not independently
verified the link between Trump and Remark
    ** Software developer Phunware Inc  PHUN.O , hired by
Trump's 2020 presidential reelection campaign to build a phone
app, also down 9.2%
    ** Rumble Inc  RUM.O , a Canadian video platform popular
with conservatives, dropped 10.4% 
    ** DWAC still most-trending stock on investor-focused social
media platform Stocktwits.com
 (Reporting by Shashwat Chauhan and Shreyashi Sanyal in
Bengaluru)
 ((Shreyashi.Sanyal@thomsonreuters.com))