1st off if you don't know, Jim Cramer is the biggest paid financial shill for Wallstreet. His job is to get dumb money to invest in dumb things. His track record is soooo bad there's no other expiation. You can actually do well on stocks and beat the market by doing the opposite of what he says.
CNBC just used 30 minutes of time that was scheduled to be part of a normal hour of Shark Tank.
Every day at 5 PM Pacific the news on CNBC ends and Shark Tank begins. This Monday was no different, except the stock market saw the NASDAQ take a -4%+ drop and DOW take a -3%+ drop only to recover, and like another post on this sub pointed out, that’s the most significant drop and recovery in a trading day since October of 2008. Eesh.
So why does Shark Tank matter? Shark Tank is a ratings monster. There’s a reason it is first up in prime time every single day on CNBC. There’s a reason I watch it every day other than just wishing I could make a bunch of fucking money for some other reason besides just all the money I plan to make on GME (so I could then throw it all into GME and make more). But besides all that, it would take a lot for CNBC to just skip over 30 minutes of Shark Tank. They wouldn’t give up all those eyes for nothing, unless they wanted them on something. And guess what they had on.
They had fucking Cramer. And he was shitting on retail traders like normal, but he was also desperately sending a message. And that message was that we are not in a recession and everything is okay. He tried to say that now is the time to buy. That buying in this uncertain time is the antidote. They gave Cramer 30 whole minutes of Shark Tank time so he could plead with the working man to keep buying, keep bag holding as we veer off of the cliff, because we are veering hard. He knows it, CNBC knows it, they mentioned it on the show.
They literally said, you can taste it. Regular people can taste it. Wild statistics like the dip and recovery today being the biggest since October 2008 are piling up, we are seeing the writing on the wall clearer and clearer and the dumbest of smooth brain non-apes who invest in mutual funds are starting to hear little birds telling them something is off. And they’re starting to question their masters, and CNBC has to take the time to inject an extra fat dose of it-will-be-okay to keep grandma and mom and dad buying stock while the market makers and rich investors cash out and jump ship.
TLDR; Shark Tank being interrupted by Cramer telling folks to bag hold harder is the canary in the MSM coal mine.
Persona opinion: this is likely tied to the GME and other stocks naked shorting and synthetic shares costing Hedge Funds BILLIONS so far. It looks like a major one got margin called yesterday.
DWACw are warrants, you buy them now and then later you can exchange them for DWAC for $11.50 each. If you think truth social will succeed warrants allow you to buy more of them now when there is the most risk that it will fail.
No one knows the time frame or how the company will handle the exchange, but the longer you hold onto DWACw the less taxes you will likely have to pay when you exchange.
Don’t have any DWAC, but bought 10 DWACW because that’s all I could afford. But I’m new to all of this. So, am I correct that the purpose of buying warrants is that I can later exchange them for DWAC stock shares 1:1 if I add 11.50 to each warrant I exchange? Is that the idea? So basically it keeps the DWAC share price at the price I paid for the warrants, plus 11.50 - even if DWAC goes way up? Is there a time limit for exchanging the warrants for stocks?
Close, when you exchange DWACw for DWAC common shares, you pay 11.50 for each share, so for 10 shares 115.00$. Then you have 10 DWAC shares. One thing to know is you have to pay tax on the net gain in price, so if DWACw is worth 30$ when you go to exchange and DWAC is at $70, you have to pay taxes on the $40 gained, or $400 for 10 shares. The longer you wait to exchange, the better as DWACw will rise to meet DWAC common price over time.
Awesome, thank you. That’s very helpful.
You bet, just be sure to keep informed, there is a possibility that the company will only allow 30 days to exercise them when they merge, and if you miss that window they become worthless.