Digital World: Dumpster Fire Grows
Digital World Acquisition Corp. has now lost some PIPE investors due to the delay in getting the SPAC approved and the reduced stock price. The SPAC still lacks the votes for the extension providing another year to close the SPAC deal. The stock has too many red flags to own at $16. The bad news for Digital World Acquisition Corp. ( NASDAQ: DWAC ) just continues to add up. The SPAC taking former President Donald Trump's Truth Social public is struggling to close the deal due to SEC issues and the lack of retail investor votes. My investment thesis remains very Bearish on the stock, warning investors to stay on the sidelines until better information exists. Read the full article on Seeking Alpha. Disclosure: No position mentioned. Please review the disclaimer page for more details. Update - Oct. 13 The addition of Truth Social to the Google Play store is definitely a positive for Digital World, but it doesn't change the dynamics of an over valued SPA...