Digital World Acquisition (NASDAQ:DWAC) stock is rallying higher on Tuesday even without any recent news from the special purpose acquisition company (SPAC).
Digital World Acquisition is a SPAC set to merge with former President Donald Trump’s media brand and take it public. While there’s no news from DWAC today, we’ve seen unexplained rises in the stock before as it’s become similar to a meme stock prior to the merger.
Keeping that in mind, here’s what some investors have to say about DWAC stock today!
DWAC Stock Twitter Chatter
$DWAC We told you the Trump pump ⛽️ was a real 1. https://t.co/uGE64zlhFu
— GreenwoodStocks🚀🚀🚀 (@greenwoodstocks) January 18, 2022
$DWAC a different breed man. $PHUN following 🙂 https://t.co/OGuACFRAlu
— The Theater Thug (@Theater_Thug_) January 18, 2022
https://twitter.com/joealertz/status/1483462063389388807
https://twitter.com/gurgavin/status/1483464640294268937
https://twitter.com/stckcalls/status/1483174242615271426
The rise in DWAC stock today also comes without heavy trading of the shares. As of this writing, some 8 million units of the stock have been traded. To put that in perspective, the company’s daily average trading volume is above that at about 18.5 million shares.
Before investors go picking up shares of DWAC stock, they should do their due diligence. While not quite as volatile as penny stocks, there’s still danger that comes with investing in SPACs. Don’t go into this thinking the rug can’t be pulled out from under you just because shares of DWAC stock are nearing triple digits.
Investors looking for more stock market news today are in luck!
We’ve got all the most recent stock coverage that traders need to know about for Tuesday! Among that is Microsoft (NASDAQ:MSFT) announcing plans to acquire Activision Blizzard (NASDAQ:ATVI), what a bank charter would mean for SoFi Technologies (NASDAQ:SOFI) stock, as well as what’s dragging down Lucid Motors (NASDAQ:LCID) shares today. You can learn all about these matters by checking out the links below!
More Stock Market News for Tuesday
- Activision Blizzard Stock News: 8 Things to Know About Microsoft’s Big Gaming Buy
- SOFI Stock: 11 Reasons Why Investors Are Banking On a SoFi Bank Charter
- LCID Stock Alert: Why Is Lucid Motors Stumbling Today?
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
