Digital World Acquisition Corp (DWAC) Sinks as Execs Resign and Musk's Latest Move Could Make Truth Social 'Irrelevant'

Digital World Acquisition Corp (NASDAQ: DWAC), the SPAC in a deal to merge with former President Donald Trump's Truth Social, is down 13% in pre-open trade as a couple of concerning headlines weigh on investor sentiment.

First, Reuters reported that Josh Adams and Billy Boozer, Truth's chiefs of technology and product development, have resigned after less than a year at the company.

Second, Elon Musk's 9% stake in Twitter (NYSE: TWTR) has one analyst thinking he could push to make free speech front and center again on the social network, invite Trump back, thereby making Truth Social "Irrelevant."

Global Equities Research analyst Trip Chowdhry said that with Musk now the largest shareholder of Twitter he will push to make free speech "front and center." Also, he thinks Donald Trump will be invited back into Twitter. At his peak, Trump had 70 million Twitter followers.

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