Rep. Marjorie Taylor Greene (R-GA) could be out thousands of dollars after she purchased SPAC stock linked to former President Donald Trump's future social media platform.
According to CNBC, Greene filed a public disclosure revealing the $50,000 stake in Digital World Acquisition Corp. (DWAC), which has said that it will merge with Trump's social media company.
DWAC saw its shares skyrocket over 800% after announcing the deal with Trump. But CNBC determined that it's "almost certain" that Greene has lost money on the investment.
"On Friday, DWAC opened at $118.80 a share and dipped as low as $67.96 a share," the network pointed out. "It's now trading around $63 a share. That means, at best, Greene has lost about 7% on her investment."
In a statement, Greene did not address the losses.
“This transaction was reported in compliance with House rules and provides all required details about the transaction," her office said.