Among all her other fault, Congresswoman Marjorie Taylor Greene (Q-GA) is no financial genius either: Her Friday purchase of Digital World Acquisition Corp., Trump’s Special Purpose Acquisition Company, has plunged in value, CNN reports.
Greene reported buying between $15,000 and $50,000 in shares in the SPAC, which was set up to fund Trump’s latest planned social media endeavor, TruthSocial. Since Friday, when the stock was selling for $150 per share, its value has plummeted to just $65 dollars per share, or 37% of its value just five days ago.
Many of the investors who bought into the SPAC have reportedly rescinded their investments after hearing about the involvement of Trump, who has bankrupted four casinos, an airline and scores of other business ventures. Trump also reportedly owes various lenders hundreds of millions of dollars in outstanding debt that will come due in the coming years, which will likely cause further financial strife for the family-owned business.