DWAC SPAC stock falls after 2 executives depart Trump’s Truth Social app

Yahoo Finance's Julie Hyman and Brian Sozzi discuss why the SPAC shares for Donald Trump's Truth Social platform are down today.

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JULIE HYMAN: And then there's one other social media company that I'm watching this morning. Truth Social-- remember? that? The Donald Trump project. BRIAN SOZZI: I'm trying to forget it. JULIE HYMAN: It didn't actually ever-- it's not actually operating. People could sign up to it, but-- BRIAN SOZZI: I signed up. I signed up. JULIE HYMAN: Right, I remember. BRIAN SOZZI: I would never-- they never accepted me into the universe. So you know what I did? I just deleted the thing, deleted it. JULIE HYMAN: Well, there you go. Well, there's some news on that front this morning. Reuters is reporting in an exclusive that the company's chiefs of technology and product development are exiting the company after joining it last year. That's Josh Adams and Billy Boozer who had joined to build that. And you can see the shares are down 10% this morning. They've rallied something like 500% since it was learned that this company was going to be combining with a SPAC to go public. So this seems like a setback here for that company. BRIAN SOZZI: Well, maybe Twitter is looking for some new development people. JULIE HYMAN: Maybe so. Maybe they can-- maybe Elon Musk can recruit them. Who knows?