💀 Zombie Watchlist: $DWAC (Truth Social) Falling Back To Earth After Mighty Candidates Bomb

If you played this one to the downside over the past two days, congrats.</b.

:pushpin: Shares of a Trump-linked SPAC fell after several of the ex-president’s favorite candidates disappointed in midterm elections.

:pushpin: Trump Media’s merger with Digital World Acquisition Corp. faces legal and financial challenges.

$DWAC daily, weekly, and monthly charts



Also, from that BBC article, and as someone who has made $$$ trading $DWAC on the short side, I concur with what is written here:

Rather than it simply being a place where people can de facto invest in Truth Social, people have been purchasing DWA shares as a way of investing in the former president himself.

“It’s a meme stock,” says Michael Klausner, Professor of Law at Stanford University. Meme stocks are companies that have lots of small investors who are online or social media followers, who can drive the share price up and down.

Klausner says many who have invested in DWAC are Mr Trump’s own supporters.

“They think that Trump’s name attached to something is going to be valuable,” he says.

It means DWAC’s share price goes up when Donald Trump’s fortunes are on the rise, and down when they are taking a turn for the worse

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