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DWAC stock has been largely stuck in neutral for the past year, trading in the $13-$17 range. About a month ago, it began to climb sharply, much like a meme stock, more than doubling its price in ...
The DWAC stock opened up trading that day at $118.80 and finished around $67. Bucshon bought DWAC stock on Oct. 25, 2021, for anywhere between $1,000 and $15,000, according to a financial disclosure.
As Yahoo Finance's Rick Newman pointed out, short interest in DWAC stock — bets that the stock price will fall rather than rise — was about 11% of outstanding shares.
Digital World Acquisition Corp. (DWAC), founded in 2021, was an American special-purpose acquisition company (SPAC), a shell corporation listed on a stock exchange with the purpose of acquiring (or merging with) a private company, thus making the private company public without going through the initial public offering process, which often carries significant procedural and regulatory burdens.
As of the close of business on September 23, 2024, the stock's share price had fallen to $12.15, some 84 percent below its March high of $79.38. [43] However, over the following month, it recovered much of this loss. [44] On November 5 (Election Day), trading was halted twice for volatility. [45]
DWAC had disclosed last month it was raising $50 million in convertible notes after cancelling a $1 billion private-investment-in-public-equity (PIPE) transaction. ... DWAC has said it expects to ...
In March 2024, DWAC shareholders finally voted to merge with TMTG, which was followed by an overnight 14% drop in DWAC's share price. [21] While Trump's share of the company is expected to be worth billions, the merger is still the subject of litigation, and observers have stated that the shareholding would be hard for Trump to monetise, even ...
If DWAC shareholder approve the merger next month, Trump’s 90% stake in TMTG could be valued at more than $3 billion, given DWAC’s current share price. ... given DWAC’s current share price.