BENE - Trump stock DWAC rises as lofty levels test the resolve of fans (update)
Trump meme stock Digital World Acquisition (NASDAQ:DWAC) +9% is seeing choppy trading, with shares now in the middle of an intraday low of $89 and a high of $120. Sharess are up about 900% after the SPAC became the home of Donald Trump's future media business. The stock had hallmarks of previous meme moves last week, minus the short interest and the options action, hitting an intraday high of $175 per share, a gain of more than 1,600% from before the deal with Trump Media & Technology Group was announced. But the bulls are finding a tougher road today. Retail interest in DWAC continued over the weekend, as it topped the list with more than 300 mentions on the WallStreetBets subreddit, according to data from Quiver Quantitative. Other stocks moving on the Trump deal are also seeing less enthusiasm, with Phunware (NASDAQ:PHUN) +1.3% just slightly higher. Phunware, also among the top-mentioned stocks on WallStreetBets, soared
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Trump stock DWAC rises as lofty levels test the resolve of fans (update)