- DWAC soared after plans to take the former President Trump's social media dream into the public arena to take on the likes of Facebook, Instagram and Twitter.
- But as reality kicked in, growth potential has mostly evaporated and the SPAC price fell from around $125 to $50 per share.
- Even after that fall though, I believe the fundamentals and long-term prospects for the platform call for another 40% downside from current prices.
- As a result, I continue to hold short through stock and options and remain highly bearish on the long-term prospects of Digital World Acquisition.
For further details see:
DWAC: The Most Obvious Short Is Not Even Close To Over