DWAC is what is called a SPAC, a Special Purpose Acquisition Company. Also sometimes called a blank check company. The reason for this name, is that the company is formed solely for purpose of raising capital to merge or acquire other companies. They trade on the reputation of known business leaders (like Trump), and are given a lot of leeway with what to do with the money. SPAC's typically have 2 years to invest the money, or they must return the capital raised to investors.
Each broker may have different rules about investing in SPAC's, you would have to check with yours.
To anyone invested in GME, and are tempted to sell some to buy into DWAC, I would hold off on that. If you have spare funds set aside, and can buy DWAC, great(!), but I would not sell any GME, if it were me.
GME IS THE MOASS. We can all sense DWAC is playing a role in the show, but that does not take away from the fact that GME is the Moon Rocket.
Can I buy DWAC from Canada? its not available on WealthSimple...
There was some info posted yesterday u/Blurpy has the 411
DWAC is what is called a SPAC, a Special Purpose Acquisition Company. Also sometimes called a blank check company. The reason for this name, is that the company is formed solely for purpose of raising capital to merge or acquire other companies. They trade on the reputation of known business leaders (like Trump), and are given a lot of leeway with what to do with the money. SPAC's typically have 2 years to invest the money, or they must return the capital raised to investors.
Each broker may have different rules about investing in SPAC's, you would have to check with yours.
To anyone invested in GME, and are tempted to sell some to buy into DWAC, I would hold off on that. If you have spare funds set aside, and can buy DWAC, great(!), but I would not sell any GME, if it were me.
GME IS THE MOASS. We can all sense DWAC is playing a role in the show, but that does not take away from the fact that GME is the Moon Rocket.
Diamond Hands.