The post has 2.4k comments (in 14 hours) so reaction to it could be the reason DWAC shot up today, as WSB traders are suddenly FOMOing in. Here's a copy/paste of the Reddit WSB post...
Okay, I already know I'm gonna get a bunch of hate for this post, so I only ask that you read the entire post before replying. I honestly think this could be the biggest trading opportunity since Jan 2021.
In October 2021 $DWAC announced they were gonna merge with a brand new Donald Trump Media Company called Trump Media & Technology Group (TMTG). It's not just Truth Social but an entire company that will have paid video streaming, etc. Traders went crazy and the price shot up 1700% to $175. Then the SEC opened a lawsuit against them trying to block the merger and the stock crashed. After almost 3 years, the SEC finally cleared all the lawsuits and approved the merger. $DWAC is holding a shareholder meeting on Friday, March 22nd to approve the business combination and the stock will change to ticker symbol #DJT on Monday, March 25th and make its public debut on the NYSE.
MAGA people are crazy. When Donald Trump announced Trump NFTs they sold out within minutes. When he launched those Trump shoes they also sold out within minutes and are now selling for 10k+. 99% of the general public has NO IDEA a brand new Trump stock #DJT is going to be making its debut on Monday. Imagine Trump ringing the bell to the NYSE and pumping #DJT. And every news outlet in America covering it. Do you honestly think the MAGA people won't dump their entire 401ks, IRAs, etc and put everything into #DJT? Of course they will.
The float is super low. The reason the stock shot up from $10 to $175 in less than 24 hours is because the float is super low. That means it only takes a little bit of volume for giant swings. The daily volume right now is basically nothing, and when this gets mass media coverage when it turns into #DJT it will explode. Also when it becomes #DJT I believe it will be short sale restricted for the first few days like every new public company. And if you think Trump (who is gonna own most of it) is gonna dump his shares on everyone....he probably will....but there's a 6 month lock-up period. That means no insiders, including Trump, can sell any shares until 6 months of #DJT going public. It also has a 300% borrow rate going into the merger meaning any inflow of volume will make for a giant move.
Most new companies that go public don't have weekly options or any options at all. When Grindr went public it shot up 900% on the first day because of the super low float. A stock tied to Donald Trump Jr shot up 300% on merger day just because of Trump Jrs name. Yes they sold off later on but this is a trade not a long-term investment. $DWAC has weekly options because it's been around so long. All it takes is $DWAC going slightly above the old ATH and you can turn $1,000 into $500,000 with far OTM $90 calls. This would be the best trade since Jan 2021. The float is low enough that all it takes is volume coming from nationwide media coverage and MAGA cult buying and the trade will work.
500 shares DWAC that I plan to hold long term, and 2,000 warrants DWACW that I'm going to play by ear. Been holding for 2.5 years now, so I'm eager to see how it plays out.
Is this one of those sell your car, buy dwac, bite the bullet and bus it to work for a while so you can upgrade to a Lambo after the merger kinda things?
Have you seen anything about the DWACW conversion plan? I assume $11.50 to purchase the new shares is likely, but my understanding is there are other possibilities on how this is handled.
I saved a screenshot from a post on here a few weeks ago, and just copy/paste this from it…
Each
whole
warrant
entitles
the
registered holder to purchase one share
of our Class A common stock at a price
of $11.50 per
share, subject
to
adjustment as discussed below, at any
time commencing on the later of 12
months from the closing of this offering
and 30 days after the completion of our
initial business combination. Pursuant to
the warrant agreement, a warrant holder
may exercise its warrants only for
whole number of shares of Class
A
common stock. This means that only
a
whole warrant may be exercised at any
given time by a warrant holder.
No
fractional warrants will be issued upon
separation of the units and only whole
warrants will trade. Accordingly, unless
you purchase at least two units, you will
not be able to receive or trade a whole
warrant.
The warrants will expire five years after
the completion of our initial business
combination, at 5:00 p.m., New York City
time, or earlier upon redemption or
liquidation. believe this is referring to
IPO of WAC which was 03SEP2021,
so it would be in 2026, unless it has
been extended]
At one point, I thought there was another SPAC example in which they basically handled the conversion for you. I think it was something like they took the current share price, subtract $11.50, and then you get the equivalent amount of shares. What you pasted is the more likely scenario. There is also an unanswered question about the tax implication and whether there is capital gains involved.
Do you know what max pain is, for a week from Friday?
I bought 50 warrents yesterday and another 50 on today's dip, I was surprised it went up after that, usually these shorted stock are supresed in price going into a positive earning day or hype day.
Like that max pain which has failed to do anything for GME for years now? Maybe this time will be different but max pain was a form of datefagging over there on r/Superstonk.
I'm not the guy to ask about anything options related, sorry.
I was surprised it went up after that
It's very possible that it went up due to that WSB post. I mean 2.4k comments means a lot of eyes on that thread, and safe to assume a lot of WSB traders FOMO-ing in.
The problem with the regards on WSB, is they buy too many options and market makers and hedge funds find it cheaper to smash the price rather than paying the options.
“Market liquidity” does not equate to “market prudence”, nor does “cheap” equate to “quality”. I’m just a smoothbrain, but we probably want to get rid of these mechanics at some point. Own it or don’t, but don’t imaginarily own it (“obligation”) when dealing with people who have no honor or truth.
WSB is/was compromised. Surprised they are allowing that on there, which makes me think it's for nefarious reasons.
Edit: Pump the stock before merger then dump it after so media can run their hit pieces?
Bingo!
Tis the way
Up 20% possibly due to volume from this Reddit post. Got 400 Shares of DWAC, I hope it goes to the moon and splits.
whoa there, pardner!
Your request has been blocked due to a network policy.
Maybe it's my vpn or ad blocking.
The post has 2.4k comments (in 14 hours) so reaction to it could be the reason DWAC shot up today, as WSB traders are suddenly FOMOing in. Here's a copy/paste of the Reddit WSB post...
Okay, I already know I'm gonna get a bunch of hate for this post, so I only ask that you read the entire post before replying. I honestly think this could be the biggest trading opportunity since Jan 2021.
In October 2021 $DWAC announced they were gonna merge with a brand new Donald Trump Media Company called Trump Media & Technology Group (TMTG). It's not just Truth Social but an entire company that will have paid video streaming, etc. Traders went crazy and the price shot up 1700% to $175. Then the SEC opened a lawsuit against them trying to block the merger and the stock crashed. After almost 3 years, the SEC finally cleared all the lawsuits and approved the merger. $DWAC is holding a shareholder meeting on Friday, March 22nd to approve the business combination and the stock will change to ticker symbol #DJT on Monday, March 25th and make its public debut on the NYSE.
MAGA people are crazy. When Donald Trump announced Trump NFTs they sold out within minutes. When he launched those Trump shoes they also sold out within minutes and are now selling for 10k+. 99% of the general public has NO IDEA a brand new Trump stock #DJT is going to be making its debut on Monday. Imagine Trump ringing the bell to the NYSE and pumping #DJT. And every news outlet in America covering it. Do you honestly think the MAGA people won't dump their entire 401ks, IRAs, etc and put everything into #DJT? Of course they will.
The float is super low. The reason the stock shot up from $10 to $175 in less than 24 hours is because the float is super low. That means it only takes a little bit of volume for giant swings. The daily volume right now is basically nothing, and when this gets mass media coverage when it turns into #DJT it will explode. Also when it becomes #DJT I believe it will be short sale restricted for the first few days like every new public company. And if you think Trump (who is gonna own most of it) is gonna dump his shares on everyone....he probably will....but there's a 6 month lock-up period. That means no insiders, including Trump, can sell any shares until 6 months of #DJT going public. It also has a 300% borrow rate going into the merger meaning any inflow of volume will make for a giant move.
Most new companies that go public don't have weekly options or any options at all. When Grindr went public it shot up 900% on the first day because of the super low float. A stock tied to Donald Trump Jr shot up 300% on merger day just because of Trump Jrs name. Yes they sold off later on but this is a trade not a long-term investment. $DWAC has weekly options because it's been around so long. All it takes is $DWAC going slightly above the old ATH and you can turn $1,000 into $500,000 with far OTM $90 calls. This would be the best trade since Jan 2021. The float is low enough that all it takes is volume coming from nationwide media coverage and MAGA cult buying and the trade will work.
I have 20K worth. Not going to break me if I lose it all, but sure would be nice if it went to the moon.
Thanks for your efforts in getting this information to me fren.
500 shares DWAC that I plan to hold long term, and 2,000 warrants DWACW that I'm going to play by ear. Been holding for 2.5 years now, so I'm eager to see how it plays out.
“Play by ear” means haven’t decided what color Lambo yet 😆😆😆
Is this one of those sell your car, buy dwac, bite the bullet and bus it to work for a while so you can upgrade to a Lambo after the merger kinda things?
....LOL
Have you seen anything about the DWACW conversion plan? I assume $11.50 to purchase the new shares is likely, but my understanding is there are other possibilities on how this is handled.
I saved a screenshot from a post on here a few weeks ago, and just copy/paste this from it…
Each whole warrant entitles the registered holder to purchase one share of our Class A common stock at a price of $11.50 per share, subject to adjustment as discussed below, at any time commencing on the later of 12 months from the closing of this offering and 30 days after the completion of our initial business combination. Pursuant to the warrant agreement, a warrant holder may exercise its warrants only for whole number of shares of Class A common stock. This means that only a whole warrant may be exercised at any given time by a warrant holder. No fractional warrants will be issued upon separation of the units and only whole warrants will trade. Accordingly, unless you purchase at least two units, you will not be able to receive or trade a whole warrant.
The warrants will expire five years after the completion of our initial business combination, at 5:00 p.m., New York City time, or earlier upon redemption or liquidation. believe this is referring to IPO of WAC which was 03SEP2021, so it would be in 2026, unless it has been extended]
At one point, I thought there was another SPAC example in which they basically handled the conversion for you. I think it was something like they took the current share price, subtract $11.50, and then you get the equivalent amount of shares. What you pasted is the more likely scenario. There is also an unanswered question about the tax implication and whether there is capital gains involved.
I hope that's how it works
I have shares with two different brokers but only one asked me to vote.
Highly suspicious. 🤷♂️
I believe DWACW shares don't get a vote, could that be your situation?
Nope, I also have warrants and my DWAC shares are Direct Registered.
Maybe because some are in a Self Directed 401k account. They wouldn't let me Direct Register them either. 🤷♂️
I'm not sure if the username is checking out or not.
Ha!
I used to have Alfred E Neuman as an Avatar, but the mods swapped it for Nerdy Pepe a few years ago. 🤷♂️
TMTG is the ticker symbol according to information from filings to the SEC. Nowhere have I seen that DJT will be the official ticker.
Sauce - https://archive.fast-edgar.com/20240318/A422L22CZZ2R99ZZ2RTS2ZYMKRFA4Z22Z262/
Two weeks ago someone posted on here about the ticker going to be DJT, and provided the link showing that.
I believe I saw that link but I can't remember where to find it. I have not seen it in any official forms from DWAC.
Do you know what max pain is, for a week from Friday?
I bought 50 warrents yesterday and another 50 on today's dip, I was surprised it went up after that, usually these shorted stock are supresed in price going into a positive earning day or hype day.
Like that max pain which has failed to do anything for GME for years now? Maybe this time will be different but max pain was a form of datefagging over there on r/Superstonk.
It's max pain for holders of weekly options....
It shouldn't be much of a problem options are very expensive, last time I cheecked.
Hey PBman what do you think about WSB posting this and it being allowed to stay up? We know that sub is compromised.
They were very down on dewac when it came out. It's gone way up the last two days, by their own rules, they have to leave it up
Other than that, I haven't been to WSB in a long time.
I'm not the guy to ask about anything options related, sorry.
It's very possible that it went up due to that WSB post. I mean 2.4k comments means a lot of eyes on that thread, and safe to assume a lot of WSB traders FOMO-ing in.
The problem with the regards on WSB, is they buy too many options and market makers and hedge funds find it cheaper to smash the price rather than paying the options.
They also day trade to much.
Options and Shorts both, very good point.
“Market liquidity” does not equate to “market prudence”, nor does “cheap” equate to “quality”. I’m just a smoothbrain, but we probably want to get rid of these mechanics at some point. Own it or don’t, but don’t imaginarily own it (“obligation”) when dealing with people who have no honor or truth.
Thanks.
Reddit has been randomly doing that to me for months now if I try to view anonymously with a VPN.
On vpn, if just reading, I find I can go to old.reddit.com (replace www. In the URL with old.) and that doesn't have the check...
My VPN blocks me from Reddit.