DWAC Stock Price: Digital World Acquisition slumps further as Truth Social execution is failing
Premium|Take advantage of 50% OFF on your first month.
50% OFF and access to ALL our articles and insights.
You have reached your limit of 5 free articles for this month.
Take advantage of the Special Price just for today!
50% OFF and access to ALL our articles and insights.
Subscribe to Premium- NASDAQ:DWAC fell by 7.20% during Thursday’s trading session.
- Selling pressure continues as Truth Social execution falters.
- Twitter looks to bypass Russian cyber security with a new version of its app.
NASDAQ:DWAC continued its recent decline, as the stock that will eventually merge with former President Trump’s Truth Social, has now lost nearly 30% over the past week. On Thursday, shares of DWAC dropped by a further 7.20% and closed the trading session at $70.29. The broader markets cooled off after a red-hot session on Wednesday. All three major indices closed lower once again with the Dow Jones dipping by 112 basis points, the S&P 500 falling by 0.43%, and the NASDAQ leading the way lower with a 0.95% loss. Much of the downward pressure stemmed from yet another higher than expected CPI report which showed that the inflation levels in the US are still rising. The 7.9% reading in the month of February is a 40-year high for the figure.
Stay up to speed with hot stocks' news!
At one point in late 2021, DWAC was the latest meme stock that could do no wrong in the eyes of investors. Right wing supporters were ready for Trump to make his long awaited return to social media, and Truth Social would finally be providing a voice for conservative Americans. Fast forward to today where Truth Social’s launch has been a verifiable failure thus far. With investor patience wearing as thin as Trump’s, there is no telling how low DWAC could fall, especially given this current market environment.
DWAC stock forecast
In what has been an interesting back and forth in the social media industry, Twitter (NYSE:TWTR) has managed to release a version of its app that bypasses the Russian security regulators. Twitter has created an onion app which can be used on the Tor browser, which is usually designated for use on the dark web. It allows users to bypass government regulators, and helps keep their activity anonymous as well.
Like this article? Help us with some feedback by answering this survey:
- NASDAQ:DWAC fell by 7.20% during Thursday’s trading session.
- Selling pressure continues as Truth Social execution falters.
- Twitter looks to bypass Russian cyber security with a new version of its app.
NASDAQ:DWAC continued its recent decline, as the stock that will eventually merge with former President Trump’s Truth Social, has now lost nearly 30% over the past week. On Thursday, shares of DWAC dropped by a further 7.20% and closed the trading session at $70.29. The broader markets cooled off after a red-hot session on Wednesday. All three major indices closed lower once again with the Dow Jones dipping by 112 basis points, the S&P 500 falling by 0.43%, and the NASDAQ leading the way lower with a 0.95% loss. Much of the downward pressure stemmed from yet another higher than expected CPI report which showed that the inflation levels in the US are still rising. The 7.9% reading in the month of February is a 40-year high for the figure.
Stay up to speed with hot stocks' news!
At one point in late 2021, DWAC was the latest meme stock that could do no wrong in the eyes of investors. Right wing supporters were ready for Trump to make his long awaited return to social media, and Truth Social would finally be providing a voice for conservative Americans. Fast forward to today where Truth Social’s launch has been a verifiable failure thus far. With investor patience wearing as thin as Trump’s, there is no telling how low DWAC could fall, especially given this current market environment.
DWAC stock forecast
In what has been an interesting back and forth in the social media industry, Twitter (NYSE:TWTR) has managed to release a version of its app that bypasses the Russian security regulators. Twitter has created an onion app which can be used on the Tor browser, which is usually designated for use on the dark web. It allows users to bypass government regulators, and helps keep their activity anonymous as well.
Like this article? Help us with some feedback by answering this survey:
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.