EDIT
This Reddit thread does a good job explaining what's going on with TMTG
/EDIT
DWAC is up and climbing. That's why I didn't sell during the big dip not too long ago. I knew the FUD phase would scare off the paper-handers, but was otherwise irrelevant. Now it climbs... and climbs.... and climbs :)
https://www.tradingview.com/chart/guwUpEfo/?symbol=NASDAQ%3ADWAC
Anyway, in case anyone missed it back in October, this article was published on Yahoo! Finance:
https://ca.finance.yahoo.com/news/trump-tightens-grip-social-media-233404603.html
As part of an earnout clause in the deal, TMTG shareholders will receive an additional 40 million shares, based on the share price performance of DWAC, which on Tuesday closed down nearly 30% but are still trading well above the SPAC's IPO price of $10 a share.
Folks, this thing could really go off. The closeout clause seems to be a further bit of icing on this cake made of winning.
BUY AND HODL
Does this mean anything for DWAC shareholders?
I'm wondering that, too. What does the earnout clause mean for existing shareholders?
TMTG is not a valid ticker symbol yet. I believe when the merger happens and DWAC is converted to TMTG, the article states there will be a bonus dividend.
I don't know when it will merge, but this Reddit post does a good job explaining things:
https://www.reddit.com/r/DWAC_Stock/comments/qkmzax/dwac_merge_date_requirements/
But who truly holds the shares, me or Charles Schwab? I'm new. Purple crayons are best. I got my shares a while back, now I sit and just HODL. But is there another step? People with GME were doing something with shares because of the shorts, but I didn't really understand it. Any insight would be appreciated.
If you wish to know more, look into something called "Computershare". You can find more information on it here:
https://www.reddit.com/r/computershare/