Digital World Acquisition Corp [NASDAQ: DWAC] gained 17.19% or 6.98 points to close at $47.58 with a heavy trading volume of 6263807 shares. The company report on December 22, 2023 at 5:40 PM that Digital World Acquisition Corp. and Trump Media & Technology Group Corp. Announce filing of Amendment No. 2 to the Form S-4 Registration Statement, Marking a Significant Milestone in their Proposed Business Combination.
Digital World Acquisition Corp. (NASDAQ:DWAC) (“Digital World” or the “Company”) and Trump Media & Technology Group Corp. (“TMTG”) announced today the filing by DWAC of Amendment No. 2 to the Form S-4 Registration Statement (the “Registration Statement”), which includes a preliminary proxy statement of the Company, and a prospectus in connection with the proposed business combination (the “Business Combination”) with TMTG. Such filing with the Securities and Exchange Commission (the “SEC”) marks another important milestone in the proposed Business Combination, which Digital World and TMTG expect to consummate as soon as the first quarter of 2024.
The Registration Statement has not yet become effective and the information contained therein is subject to change.
The daily chart for DWAC points out that the company has recorded 207.96% gains over the past six months.
If we look at the average trading volume of 2.34M shares, DWAC reached to a volume of 6263807 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Digital World Acquisition Corp [DWAC]:
The Average True Range (ATR) for Digital World Acquisition Corp is set at 5.08 The Price to Book ratio for the last quarter was 7.18, with the Price to Cash per share for the same quarter was set at 0.09.
Trading performance analysis for DWAC stock
Digital World Acquisition Corp [DWAC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 31.40. With this latest performance, DWAC shares gained by 174.24% in over the last four-week period, additionally plugging by 207.96% over the last 6 months – not to mention a rise of 182.12% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for DWAC stock in for the last two-week period is set at 72.48, with the RSI for the last a single of trading hit 73.92, and the three-weeks RSI is set at 71.84 for Digital World Acquisition Corp [DWAC]. The present Moving Average for the last 50 days of trading for this stock 23.24, while it was recorded at 40.83 for the last single week of trading, and 16.83 for the last 200 days.
Digital World Acquisition Corp [DWAC]: A deeper dive into fundamental analysis
Digital World Acquisition Corp’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.06 and a Current Ratio set at 0.06.
An analysis of Institutional ownership at Digital World Acquisition Corp [DWAC]
The top three institutional holders of DWAC stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in DWAC stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in DWAC stock with ownership which is approximately 5.8325%.
