Published: 2021-10-25
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Topic
Status
DWAC stock experienced a 1200% rally and halted trading 12 times due to excessive volume.
"the stock rallied 1200 percent trading was halted 12 times in a single morning from excessive volume"
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DWAC stock surged 400% on day one, doubled on day two, tripled on day three, and was up 900% from its announcement date by October 23rd, 2021.
"within then the first day it surged 400 percent within the second day it doubled in price again within the third day it more than tripled and it's now up 900 higher than when it was first announced on October 20th"
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DWAC reached a $4.5 billion valuation by October 28th, 2021, based solely on the promise of a future free speech social media network, despite lacking a product, revenue, or financials.
"the technology company was now valued at four and a half billion dollars all without a working product revenue and financials but instead the promise of a free speech social media Network"
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Concerns are raised about DWAC's operational structure, with its official address being a WeWork office and its CFO holding a high-ranking position in the Brazilian government.
"there's also mention that dwac's official address is listed as a wework office in Miami well their CFO is a top Deputy to the Brazilian president and member of the country's Parliament"
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Reports indicate that DWAC's website source code was taken from Mastodon, a platform that requires proper citation of its origin.
"new reports the website source code was actually pulled from the social media platform Mastodon which requires that all copy websites cite where it's from"
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Investing in DWAC as a startup carries significant risks due to its volatility.
"as a startup there are a lot of risks for the investor and just to be careful with something as volatile as this"
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The planned social media company aims to expand into broadcasting, news, and other computing services.
"they suggest that such a business can eventually evolve Beyond social media and into broadcasting news and other Computing Services"
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There is a large enough market for a new social media platform, evidenced by the existence of numerous successful platforms like Facebook, Twitter, and TikTok.
"there's a big enough market out there for this platform it's the same reason why we have Facebook Twitter Snapchat YouTube Tick Tock Discord Clubhouse and a variety of other social networks"
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Increased media attention for the new social media network is expected to drive up its price as users are drawn in by curiosity.
"I believe all publicity is good publicity and the more headline attention this gets the higher the price will inevitably go as more users sign up and buy in out of curiosity for what it might be"
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Some individuals will invest in DWAC to support the anti-censorship message, regardless of the company's fundamental value.
"for some people it represents the fundamental support against censorship and because of that some people will buy and hold just to support the message whether or not the fundamentals are Justified"
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Established social networks like Facebook, YouTube, and TikTok have valuations in the hundreds of billions of dollars.
"Facebook is valued at over 900 billion dollars YouTube is over 500 billion dollars Tick Tock is reportedly valued at over 400 billion dollars"
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The majority of SPACs have historically underperformed the S&P 500 since 2009.
"the vast majority of them failed to outperform the S P 500 since 2009."
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Over 100 SPACs that announced mergers in 2021 had gained less than 2% on average from their initial listing price by the time of this transcript.
"over a hundred specs who announced mergers this year have on average gained under two percent from the price they traded at when they first listed on the stock exchange"
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Larger SPAC deals are more likely to be successful.
"the ones that do well have two traits in common first the larger the deal the more successful it's likely to be"
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Successful SPACs typically have strong management teams, a factor that has not yet been demonstrated by DWAC.
"second it was found that a strong performance also comes with a strong management team of which has not yet been proven with dwac"
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When investing in momentum-driven social media stocks like DWAC, it's advised to only invest what you can afford to lose, avoid greed, and be willing to sell if significant profits are made.
"don't invest more than you could lose don't get greedy and if you're up a life-changing amount of money don't fear selling"
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