• by Joe Mandese  @mp_joemandese, March 22, 2024

The share price of Digital World Access Corporation (DWAC) began trending downward following a shareholder vote Friday morning to merge with Donald Trump's social media company: Trump Media & Technology Group, the parent company of the Truth Social digital platform.

The deal, which personally gives Trump billions of dollars in potential equity value, includes contractual requirements barring him from selling shares for six months.

Trump is estimated to have nearly 80 million shares of the merged company's stock, which were trading down nearly 9% to $39.10 per share at presstime in late morning trading.

Shares of the combined company are expected to begin trading under the "DJT" stock symbol soon.