What's Going On With Trump-Linked Digital World (DWAC) Stock Today?
Digital World Acquisition Corp (NASDAQ: DWAC) shares are trading higher Wednesday. New reports indicate the company reached a settlement with the U.S. Securities and Exchange Commission (SEC).
187 shares right here. Still buying weekly.
DWAC stock transfer agent is Continental Stock Transfer & Trust (https://continentalstock.com/) if you wish to Direct Register your shares and remove them from potential manipulation by the exchanges. Here is more info on Direct Registration and what it does (setup by GME apes): https://www.drsgme.org/
Per a phone call with Continental, they currently do NOT have an investment plan for DWAC (also called DRIP). However, if you initiate a DRS from your broker (such as Fidelity), Fidelity will send the shares to Continental with your individual information on file at Fidelity. The process is that Continental then sends to your mailing address your account statement and login information to get access to the account. So make sure your broker profile information is the correct information since Continental will use that exact same info to send you statements. I have not done this yet, but I plan to initiate a "test transfer" DR of 10 shares next week to Continental. Once the shares arrive at Continental, they should be held as "Book" which is the most restrictive lockdown on the shares (to be verified in a couple weeks). [Incoming GME shares into ComputerShare Transfer Agent always show up as "Book"].
At the very least you should instruct your Broker to move all DWAC (stock) and DWACW (warrants) holdings to cash from margin if you have a margin account (via journal change request with Broker help desk) to restrict the ease of your broker lending those DWAC shares out to Short Hedge Funds (SHF). Note that most Brokers are requiring 100% on DWAC anyway, so they are not allowing you to borrow against them, but they may be letting others borrow them (this means your House Surplus should not decrease when you do the margin-to-cash journal change for DWAC shares only).
Do be aware (because I have already done this process for 1 share), there is No ability or way to sell your shares once Continental has your shares. If you plan to sell, you must reverse the DRS back to your broker to sell.
Good point. Yes, the DRS process is intended for long-term shareholders that want full individual control and certificate ownership (vs custodial ownership through a Broker). Any sales need to be planned far in advance and make take some time to complete. It is not really intended for active traders.
I just checked my account and DWAC is up 17.23%
Is there fees that need to be covered to avoid taxes on selling to cover the transfer?
I’m not a tax advisor or financial advisor. I don’t give financial advise. I transferred 1 from fidelity and it cost nothing for the DRS transfer. I have also reversed a DRS for GME once back to Fidelity. This transfer also cost me nothing. The only taxable event is selling, short or long. Short is less than 1yr ownership and is taxed higher, long is more than 1yr ownership and is taxed lower.
If I want to start buying, where I should go? I don’t want brokers or anything like transfer in etc. I just want direct purchase like I do with GME in computer share. Please and thank you. God bless all of you.
There is currently NOT a direct investment plan (DRIP) for DWAC like there is for GME. When one is created, it will be at the transfer agent which is currently Continental. So current buying must be done at broker. Fidelity is the best, imo.
What I am doing is DRS for every 50 shares I accumulate in the future at a broker after I get my current stash moved over to Continental. Look at it like your broker is your trader and Continental is your share vault. After the Truth merger is completed, there likely will be a ticker change (TMTG) and an investment plan at the transfer agent may be setup at that time. For low immediate capital expenditure check out DWACW (warrants) on the SEC website: https://www.sec.gov/edgar/browse/?CIK=1849635&owner=exclude
This is a similar concept to buying your Bitcoin on Coinbase and then transferring to a hardware wallet you can take offline (Bitcoin vault). Yet another analogy is buying land with an LLC then transferring to yourself individually to get the allodial title via Land Patent paperwork and posting (Land Patent vault).
Thank you so much. I don’t have a lot of experience doing this kind of transaction. Thank you for the tip of the house however I don’t have a lot of money and don’t have a house. I ish I can have my own house. Maybe in my dreams.
Wow
In for a penny in for a pound. Loaded it up again. If you think Trump is going to lose, that money sitting in the bank won't be worth wiping your ass on.
If you think he is going to win expect DWAC to take off.
Yep. Still agreeing with you.
Did they reach an agreement? Or were they told what they must do? Who is really in control?
Right this second? TMTG
Big picture? Hopefully TheDonald
I was reading about the suit and honestly the SEC seemed to have grounds for it. Sounds like part of being a SPAC is you aren't supposed to discuss specific investment targets beforehand. Likely invalidates the classification.
Feels like "insider traders" were sleepers waiting to intentionally violate SEC rules to sabotage the merger. This is an age old WallStreet sabotage play where those that want to sabotage actually pay the "insider traders" ahead of time to violate the rules, and then convince the SEC to let the actual perpetrators off with a slap on the wrist, but a big fine and poor optics and headlines for the Corp.
Based on timing, my intuition, and a couple other of the Executives that got outed and fired as traitors and saboteurs. Note that the insider trading issue never was an issue until exactly when they were trying to do the merger. Looks like "planted sleeper with timed fuse" classic infiltration and sabotage play.
I read some more on SPAC structure and they're kinda nuts. Really hard to imagine anyone wanting to create one without specific targets in mind...
Yes, this one appears to be for Trump Media Group (Truth Social) first, but it is possible that it is not the only target. SPACs allow one to get all the public stock filings, disclosures, etc. all done as a "blank check" so the operations of any potential candidate can be separated from the management of the listing and the SEC interface hassle. It appears that the whole "Digital World" is fair game after the Truth Social merger is completed.
Trump Media Group appears to be planning additional ventures, and they could do small acquisitions to kick start those ops that would be all held within the holding company.
A publicly traded holding company to raise capital via the stock market to then acquire other public companies or private companies to do an industry consolidation/rollup/reorganization is what the Deep State and globalists have been doing for decades. They (SEC) apparently are wary of it being deployed against their own assets.
This why I am a bit worried.
Did the deep state get to the Truth Social leadership and subvert them?
Long way to come back . I am down 50K, so look forward to this making its way back, which now can happen.
I have quite a few shares. Feeling pretty comfy this morning.
My account is up 17.71 percent. hahaha
u/dty6 is buying in blocks of 17 or 71 at prices ending in X.17, X.34, X.51, X.68, X.85, and X.71?
I see you...hehe.
u/#truthsocial this is the way! On 6/29 trump and family were cleared of any wrongdoing. qpost 630 u/#q630 oh also forgot for the numberfag frens 6/29 added up yuuup 17 and $DWAC closed that day at $12.68 added up yuuuup 17
Wow
https://youtu.be/lPkEpfwJX_Q
It should be everyone's patriotic duty to invest in DWAC. Those who bet on Trump and the country should be greatly rewarded. There should be a plan here.
Bought more today!
Just bought some. Entire (non-401K) portfolio is Meme stocks.
I will either be a genius or living with my kids in retirement 😁
Honestly, all I want to do is tell my family “I told you!.” I gave them all the info about GME and DWAC. Only husband and kids believed. Kids are pissed though because they are under water, but HODLing.
Come on MOASS!
Picked up a few warrents myself.
Time for FOMO .
Picked up a few more, found out I now have collateral in my account for instant trading again.
All my non Drs stocks were OTC
That's a nice win.
At this point it's better to buy shares, not warrents. You will later have to pay $11.50 (strike price) to convert the warrents into shares.
I can just sell the warrents I don't need to convert.
You have better leverage with the warrent. They are up 91% today.
Oh, Ok- sorry, thought you may want to keep them.
I see what you mean now, I didn't realize the shares were so low. For years the warrents were a better deal, but they went up way more than the stock did today
400 shares, smiling today. For now. haha
Bought 10k worth on Day 2 instead of Day 1. Not smiling yet. :) ha ha the per share price would choke a moose
Well yeah lol I'm still at -$5k or so! Today was a good day though.
Hey me too! Fingers been crossed so tight they're twisted.
On Friday is 7/7/7(2023).
Sounds like a shake down by the SEC to me, but I don’t understand mergers and SEC regulations.
Correct. Most likely setup specifically intended to delay the merger. DWAC appeared to be positioned for a lawsuit against the SEC for 3x actual damages, 200x punitive damages, and injunctive relief. So that may have forced the SEC to resolve or fight it out with dire consequences if the SEC lost. As soon as SCOTUS overturns Chevron Doctrine (to go with W. Virginia v EPA) it may be possible to get permanent injunction against the SEC that would apply in all sovereign states.
An injunction would prevent SEC from enforcing all "rules" that are NOT law passed by the Congress. Article II agencies may not usurp Article I Const. authority, and "make laws" or "apply rules as if they are laws" when they in fact, are not (color of law crime). Applies to all Executive Branch Depts, including IRS. All "rules" would have to be explicitly authorized by Congress in specific legislation with specific language to become enforce-able laws.
I have lots o' shares! This is great. But a lonnnnng way to go!
Finally! Ready for the stock price to go up!
It seems like with everything else, Trump is exposing the corrupt SEC agency!