DWAC stock jumps 35% on Trumps reduced bond, post-merger ticker news [Video]

Shares of Digital World Acquisition Corp. soared 35% on Monday after an appeals court substantially reduced the bond former President Donald Trump has to post in a civil fraud case, and the company announced it will start trading as DJT on Tuesday.

The appeals court reduced the bond amount to $175 million from $454 million, and extended Trump’s Monday deadline to post the bond by another 10 days.

The ruling came after the approval of a merger between the shell company and the social media group owned by former President Donald Trump.

The DWAC jump Monday was likely driven mostly by news of the reduced bond. Investors in the company initially feared Trump might try to sell some of his majority stock in order to free up cash if he were required to post a bond north of $400 million.

With the bond reduced to $175 million, the odds that Trump would try to sell his shares or pressure the board to alter …