Digital World Acquisition, the company behind former President Donald Trump‘s Truth Social online platform, lost nearly $6.5 million in the first half of 2022 as the company warns of Trump’s potential “adverse” impact on business.
However, its launch was plagued by financial and legal issues.
Digital World Acquisition’s stock has plummeted in recent months, as well. In March, its stock prices peaked at $97.54 a share, but that has declined to $27.52 per share as of Friday. That equates to nearly a 72 percent drop in the company’s stock prices.