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Why Square Shares Are Falling

Want to Play the Trump SPAC? Consider the Warrants.

The wild, Reddit-fueled trading in Digital World Acquisition — better known as the Trump SPAC — has left the company’s warrants as a cheap play on the surging stock. Shares of the special purpose acquisition company, or SPAC, which plans to merge with former President Donald Trump’s new social media business, popped 91%, or $41.38, to $86.88 in heavy trading Friday after rising more than fourfold on Thursday. Digital World Acquisition ‘s warrants (DWACW), which can be exercised at $11.50 a share, were up 170%, or $19.30, to $30.59 in trading Friday.

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