It's weird. I'm setting up recurring purchases in my SoFi account to buy GME, BTC, and DWAC (also setting aside $250/month for silver--I'm bracing for hyperinflation) and it's letting me set up recurring purchases for GME and BTC on the 2nd and the 16th but it's only giving me the option to buy DWAC manually. No automation offered there. Wonder why that is...
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DWAC I’ll s a spac, special purpose acquisition company. It’s like a shell company that’s sole purpose is to raise funds to buy or merge with another company and can only exist for a maximum of 2 yrs. So at some point it will cease to exist so that’s probably why you can’t set up recurring
so, you are saying in 2 years from it's start, we will see the next thing. right before 2024 election.
Maximum of 2 yrs. If there is no deal made by that time the money needs to be returned to investors
Is there something it owns that we could invest in right now?
Not yet. There is an agreement filed for trump media technology group, but that not listed on nyse yet. It could use money to purchase other companies also but it’s secret. They were created to fund takeovers by multiple investors and keep the plans secret to avoid the targets stopping the takeovers.
It’s complicated read these…
https://www.investopedia.com/terms/s/spac.asp
Here’s a warning for the fuckery that will most likely occur
https://seekingalpha.com/article/4483055-dwac-investors-watch-out-for-the-death-spiral
Here’s another article that’s from January but is a little easier to understand what’s going on
https://www.thestreet.com/memestocks/other-memes/here-is-why-dwac-stock-may-be-seriously-undervalued