Trump Media & Technology Group (TMTG), the company behind Donald Trump's Truth Social social media company, issued a statement Monday in response to Digital World Acquisition Corp.'s (DWAC)disclosure of additional subpoenas related to the special purpose acquisition company's (SPAC) deal to buy TMTG. "We encourage -- and will cooperate with -- oversight that supports the SEC's [Securities and Exchange Commission] important mission of protecting retail investors," TMTG said in a statement. Digital World's stock tumbled 10.4% in premarket trading Monday toward an eight-month low. It has plunged 45.9% year to date through Friday, while the S&P 500 has lost 17.9%.
(END) Dow Jones Newswires
June 27, 2022 08:10 ET (12:10 GMT)
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