Trump Media to cooperate with SEC’s probe into SPAC buying TMTG

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Trump Media & Technology Group (TMTG), the company behind Donald Trump’s Truth Social social media company, issued a statement Monday in response to Digital World Acquisition Corp.’s DWAC, -9.56% disclosure of additional subpoenas related to the special purpose acquisition company’s (SPAC) deal to buy TMTG. “We encourage — and will cooperate with — oversight that supports the SEC’s [Securities and Exchange Commission] important mission of protecting retail investors,” TMTG said in a statement. Digital World’s stock tumbled 10.4% in premarket trading Monday toward an eight-month low. It has plunged 45.9% year to date through Friday, while the S&P 500 SPX, -0.30% has lost 17.9%.

This article was originally published by Marketwatch.com. Read the original article here.

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