Digital World Acquisition Corp DWAC shares traded higher Monday after former President Donald Trump said he was expected to be arrested on Tuesday over alleged hush money payments to a pornstar in 2016.
Trump told followers on his Truth Social platform that he heard about the arrest plans from the corrupt Manhattan district attorney's office over the weekend. The former president, who plans to run again in 2024, called on his supporters to protest the impending arrest.
Trump wrote a Truth Social post about the PROTEST.
On the heels of the Trump news, Tesla CEO Elon Musk responded to a tweet saying if the former president were to be arrested, it would be the beginning of his re-election.
Musk wrote in response to the tweet, "If this happens, Trump will be re-elected in a landslide victory."
SPAC is expected to merge with the former president's Trump Media Technology Group, which is behind the Truth Social app.
See also: After Trump calls for protests over possible arrest, Manhattan DA Warns Against Intimidation.
DWAC Price Action: Digital World has a 52 week high of $74.80 and a 52 week low of $12.34.
According to Benzinga Pro, the shares of Digital World went up 11% to $13.87 on Monday.