BENE - Trump stock DWAC turns negative as lofty levels test the resolve of fans (update)
Trump meme stock Digital World Acquisition (NASDAQ:DWAC) -7% is trading at the lows of the day, in negative territory after being up as much as 28% intraday. Shares are still up more than 800% 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) -18% also falling. Phunware, also among the top-mentioned stocks on WallStreetBets, soared last
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Trump stock DWAC turns negative as lofty levels test the resolve of fans (update)