re: DWAC - Trump backed media SPAC

quote:

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Short til it sits with Trump's previous stock ($.06)

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Full disclosure: I was bullish on this for the 1.5 day mega run as well as prior to the app rolling out. I also supported Trump.

That said, DWAC is a disaster, the wheels are falling off. I think it’s still shortable here (believe it goes to $10) for the following reasons:

1) Two highest ranking tech execs left
2) Chief Legal advisor has left
3) Musk takes activist role in Twitter (hopes to improve censorship)
4) 95 percent drop off on downloads
5) Out of top 250 in App Store
6) No website or android access
7) Missed their third delayed target for full launch
and the biggest one in my opinion
8) Trump hasn't posted or spoken about the app

I had looked forward to Trump having a social media presence again and thought this would be the instrument for that to happen. That doesn’t appear to be the case and I have to be objective and trade what’s happening rather than what I want to happen.

Unless the facts change, this will be my thesis.