- NASDAQ:DWAC gained 6.81% during Tuesday’s trading session.
- Meme stocks get a huge boost from Bed Bath and Beyond after hours.
- Politicians are buying into Trump’s Truth Social stock.
NASDAQ:DWAC continued its roller-coaster ride on Tuesday, as the stock rebounded from its rocky start to November. Shares of DWAC gained 6.81% and closed the trading day at $64.96. The stock remains a SPAC shell corporation and has only announced an eventual merger with former President Trump’s new social media site, Truth Social. While it was a nice day for DWAC shareholders, the broader markets also continued to rise as all three major US indices hit new record all-time highs once again. The move higher comes one day before a key FOMC meeting that could give investors an insight into the upcoming tapering policies from the Federal Reserve.
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The meme sector was flying higher once again on Tuesday, and a lot of it had to do with the home goods retail outlet Bed Bath and Beyond (NASDAQ:BBBY). The company reported it is launching a digital marketplace that will offer the ability to buy goods from third-party sellers, as well as a new partnership with the grocery company Kroger (NYSE:KR). BBBY also announced an executive shuffle, and a generous stock buyback program. Shares of BBBY were up over 80% at one point in extended trading hours, as the rush of investors to gobble up shares seems to have ignited a mini short squeeze.
DWAC stock forecast
Although Trump has kept fairly private since he left the Oval Office, it seems as though some politicians still support the former President. GOP Republican Larry Busch on from Indiana has reportedly bought over $15,000 in shares of DWAC, while Republican Marjorie Taylor Greene bought over $50,000 in DWAC stock. It is unclear how much these politicians have made from the investment, but it seems as though some members of the Republican party are in support of Truth Social.
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