Shares of “Digital World” linked to “Trump” are falling strongly…and the company expects an exacerbation of its annual losses
Digital World Acquisition shares fell by 8%, recording the largest daily loss since the beginning of this year, after the company announced that it had to postpone submitting its financial report for the year 2022.
Digital World is a Nasdaq-listed private equity firm linked to former US President Donald Trump and is currently working on an IPO.
to its social networking platform Truth Social.
The company explained that its employees need more time to prepare the financial statements, which are expected to be submitted within 15 days.
It also expected that it would incur losses of about $10 million in 2022, compared to losses of about $1.4 million in the previous year.
The “Digital World” crisis coincides with the appearance of former US President Donald Trump in court today, Tuesday, after he was charged with 34 criminal charges.
Trump denied all the charges against him in court today, knowing that the Manhattan Attorney General confirmed that Trump is accused of falsifying business records to conceal illegal information and activities.
At the end of last March, Digital World announced the dismissal of its former CEO, Patrick Orlando, and the appointment of Eric Swader as interim CEO.