HODL the line !!
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You can purchase any of these symbols: DWAC (its the direct stock), DWACW (Its a warrant that can be exchanged to a direct share at $11.50 at a later date) or DWACU (Its a combination).
It started at $10 yesterday, and now its closed at $65. You need a brokerage account that lets you buy this. People were mentioning that Robinhood did not allow it, but I can't confirm this. You can create an account at ETrade or Fidelity in US. In other countries you can use the Interactive Brokers or one of the local banks that provide exposure to US markets.
Good luck. I believe this is going to the moon, but remember - no one knows what the real value is. You have to read the whole post to understand what a SPAC is, and how very risky it usually is and the deal might not even go through at all. Invest only what you can afford to lose. Even owning 1 share might be really worth something.
Once its clear that the investment is a good investment, the train would have left the station. For instance the opening price was $10, and closing price was $65. You know it was a good deal (atleast for day 1), but you cannot buy it at $10 anymore. Will it go to $200 or $1000 or to the moon? One can only wait and see until it happens.
I would say the better way to do it is to invest just a little bit - like $100-$200 and buy the DWACW (Warrants) that closed at $11 yesterday. These warrants allow you to purchase the actual shares DWAC at $11.50. So lets say you buy 10 warrants at $11.5 costing you $115, at a later date if you see the stock shooting higher and higher, you can use the 10 warrants to purchase the shares at $1150, regardless of how high the share is at.
If the stock does down and loses value, you only lose $115 - as long as you are okay losing that, you are good.
Each warrant allows you to buy HALF a share.
For instance, if you have 10 warrants, you can buy 5 shares.
That's why the warrant (DWACW) price is (DWAC - 11.50)/2
DWACW is actually trading a bit under that formula, because of the 'extra effort' and/or risk of converting warrants into shares.
Note: I am not a seasoned trader, but I've been reading up over the last few hours.
This is the language from the SEC filing:
This is referring to the Unit - DWACU I believe. And the next line explains what a warrant is:
That to me reads as one DWACW allows you to purchase on DWAC. Please let me know if I am reading this wrong. Its possible I havent read the remaining conditions in the rest of the document.
Thanks for this!
God bless u fren, and I hope you guys can get in on the action. Even one share would be quite something to pass on to your grandkids someday!
So I grabbed 100 warrants at a little over $4.00. So paint me a scenario using real numbers if things were to go real well. And since the warrants are good until 2028 do I just hold for 5 years as the stock goes crazy? Then what ever the value of my warrants is, I can exercise them and get as many of the common stock as possible at $11:50 a share? Is that correct? That could be Uuge!
Investing is like gambling man. It’s math combined with gut instinct.
If you trust the plan this is a great investment.
This is could be like buying google or apple back in the day and maybe even better.
Robinhood has dwac
Honestly, the more people who buy it in Robinhood the more ammunition Robinhood gets to manipulate the stock price by selling "zombie" shares. r/SupertStonk has a lot of indepth posts about it.
What I would suggest is to looking into something called DRS - it allows you to obtain the share certificate and transfer the share to your name (right now its in the street name - Robinhood's name). Obviously, this is assuming you are planning to HODL it to the moon.
I did not know this about robinhood! But couldn't they make zombie shares no matter how many customers they have?