Stock of SPAC buying Trump’s Truth Social extends plunge after reports Twitter buyout deal is close

Shares of Digital World Acquisition Corp.
DWAC,
-12.90%
tumbled 9.5% toward a six-month low in morning trading Monday, in the wake of reports that Twitter Inc.
TWTR,
+5.66%
may be close to a deal to be acquired by Tesla Inc.
TSLA,
-0.70%
“Technoking” Elon Musk. The special purpose acquisition company (SPAC), which announced a deal in October to acquire Trump Media & Technology Group, which launched Twitter competitor Truth Social. The stock has plunged 41.3% since Elon Musk disclosed that he bought a 9.2% stake in Twitter, while Twitter shares have run up 28.5% and the S&P 500
SPX,
+0.57%
has dropped 7.0%.