Posted on 10/22/2021 6:02:15 AM PDT by Presbyterian Reporter
Digital World Acquisition Corp., the SPAC that is taking former President Trump's planned social media platform public, soared again on Friday following a massive rally in the previous session. The SPAC, which trades under the ticker DWAC on the Nasdaq, jumped more than 100% in premarket trading on Friday. The ticker was among the most popular mentions on Reddit's WallStreetBets, which indicated that DWAC could be having a meme stock moment like GameStop and AMC. The social media app will be developed by Trump Media and Technology Group (TMTG).© Provided by CNBC The social media app will be developed by Trump Media and Technology Group (TMTG). Digital World Acquisition Corp., the SPAC that is taking former President Donald Trump's planned social media platform public, soared again on Friday following a massive rally in the previous session.
The SPAC, which trades under the ticker DWAC on the Nasdaq, jumped more than 100% in premarket trading on Friday. The stock surged more than 350% to close Thursday at $35.54 in explosive trading volume and volatility.
SPAC stands for special purpose acquisition company, which raises money on the public markets with a goal of merging with a private company and taking it public within two years. Investors typically have no clue what the target company will be when the SPAC debuts and trades on the stock exchange.
Signs emerged that small-time retail investors could be behind the monstrous rally in the SPAC. On Thursday, DWAC the single most actively traded stock by far on Fidelity's brokerage platform. Meanwhile, the ticker was among the most popular mentions on Reddit's WallStreetBets and the SPAC was also a trending topic on Twitter, which indicated that DWAC could be having a meme stock moment like GameStop and AMC.
(Excerpt) Read more at msn.com ...
Extended hours $86.57+41.07 (+90.26%)
FABULOUS!
This will just give the talking heads something else to whine about
Hit a quick peak of $93.43 this morning and currently heading back up.
Warrants are on the moon, options aren’t out yet.
Hope Trump makes BILLIONS on this in the coming years.
minimally I hope he makes back some of the wealth he sacrificed for trying to serve America
I’ve never been involved in an IPO type situation (I know this is a spac). Usually only the elites get the true benefit of this.
“””Hope Trump makes BILLIONS on this in the coming years.”””
And I hope the MAGA supporters who have invested in DWAC also take home billions in the coming years.
“””I’ve never been involved in an IPO type situation (I know this is a spac). Usually only the elites get the true benefit of this.”””
According to CNBC it is small-time investors (aka deplorables) who are behind this monstrous rally.
“”””Signs emerged that small-time retail investors could be behind the monstrous rally in the SPAC. On Thursday, DWAC the single most actively traded stock by far on Fidelity’s brokerage platform. Meanwhile, the ticker was among the most popular mentions on Reddit’s WallStreetBets and the SPAC was also a trending topic on Twitter, which indicated that DWAC could be having a meme stock moment like GameStop and AMC.”””
this is like an outlet for the world to show support for the MAGA movement, that we’ve never had before. Except maybe rallies which are isolated in a sense. If they pull this off it will be a company of epic proportions, syphoning investors, clients and money from all the wicked entities we’ve been stuck with for so long.
I love it. I wish I bought more
now at 94
ahem...........96
I wish him great success with this social media site. It will only survive if his tech support can fortify the site against viruses and kamakazi trolls. Be ready, Mr.President because the wannabe site destroyers will be coming. It will be like a moth to flame.
“””this is like an outlet for the world to show support for the MAGA movement, that we’ve never had before. Except maybe rallies which are isolated in a sense. If they pull this off it will be a company of epic proportions, syphoning investors, clients and money from all the wicked entities we’ve been stuck with for so long.””””
I agree. We need to keep in mind that the name of the company is Digital World Acquisition Corp.
Likely the first acquisitions will be GETR and RUMBLE so DWAC can compete with Twitter and Youtube.
SELL Facebook...buy DWAC...to the moon!!!
So SPAC = Venture Capitalists?
: clears throat: 107
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