In late October, shares of Digital World Acquisition Corp skyrocketed from less than $10 apiece to as high as $175 before giving up some of the gains.
DWAC is a special purpose acquisition company that plans to merge with a social media company linked to former President Donald Trump.
Trump’s SPAC is clearly “a new stock on the menu” for the WallStreetBets crowd, Rogozinski told Stansberry.
When asked about which stocks he thought the forum would ride next, he answered, “I think it’s clear that this one is next and I think it’s going to be a while before they move on to the next one.”
“This is not a short squeeze situation. I believe the move is based off of inherent demand for this thing. There’s a lot of excitement and I think the price speaks for itself.”link