Digital World Acquisition Corp [NASDAQ: DWAC] plunged by -$5.87 during the normal trading session on while it closed the day at $36.94. The company report on March 22, 2024 at 5:50 PM that Digital World Acquisition Corp. Stockholders Approve the Proposed Merger With Trump Media & Technology Group Corp.
Digital World Acquisition Corp. (“Digital World” or the “Company”) announced today that the Company’s stockholders voted to approve, among other things, the proposed merger (the “Merger” and together with the other transactions contemplated by the Merger Agreement, as defined below, the “Business Combination”) of DWAC Merger Sub Inc., a Delaware corporation and wholly owned subsidiary of the Company (“Merger Sub”), with and into Trump Media & Technology Group Corp., a Delaware corporation (“TMTG”), pursuant to an Agreement and Plan of Merger, dated as of October 20, 2021 (as amended by the First Amendment to the Agreement dated May 11, 2022, the Second Amendment to the Agreement, dated August 9, 2023, the Third Amendment to the Agreement, dated September 29, 2023, and as it may further be amended or supplemented from time to time, the “Merger Agreement”).
The vast majority of the votes cast at the meeting voted to approve the Business Combination.
Digital World Acquisition Corp stock has also loss -5.23% of its value over the past 7 days. However, DWAC stock has inclined by 111.81% in the 3 months of the year. Over the past six months meanwhile, it has gained 135.29% and gained 111.09% year-on date.
The market cap for DWAC stock reached $1.37 billion, with 30.02 million shares outstanding and 28.89 million shares in the current float. Compared to the average trading volume of 3.40M shares, DWAC reached a trading volume of 9796329 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Digital World Acquisition Corp [DWAC]:
The Average True Range (ATR) for Digital World Acquisition Corp is set at 5.00 The Price to Book ratio for the last quarter was 5.57, with the Price to Cash per share for the same quarter was set at 0.09.
DWAC stock trade performance evaluation
Digital World Acquisition Corp [DWAC] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.23. With this latest performance, DWAC shares dropped by -20.87% in over the last four-week period, additionally plugging by 135.29% over the last 6 months – not to mention a rise of 177.74% 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 44.67, with the RSI for the last a single of trading hit 41.55, and the three-weeks RSI is set at 47.43 for Digital World Acquisition Corp [DWAC]. The present Moving Average for the last 50 days of trading for this stock 40.19, while it was recorded at 38.93 for the last single week of trading, and 21.78 for the last 200 days.
Digital World Acquisition Corp [DWAC]: An insightful look at the core fundamentals
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.
Digital World Acquisition Corp [DWAC]: Institutional Ownership
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%.
