Post by
tylerreddick on Mar 25, 2024 11:18am
lunderk
If you want to see something really nuts, check out DWAC. That is the "blank check" stock that is merging with Trump's "Truth Social", which is worthless.
DWAC has about $10 in cash, (that Trump is going to steal), and the shares are trading over $40.
That is absolutely insane. The "greater fool" theory in the extreme, and the real fools are the ones holding the bag when the chit hits the fan.
Crazy world.
Comment by
lunderk on Mar 25, 2024 11:30am
So it's AMC without the short squeeze play.
Comment by
lunderk on Mar 25, 2024 11:47am
I am surprised you do not remember these. https://www.robomarkets.com/blog/education/5-large-short-squeezes-of-the-last-25-years/
Comment by
shneps on Mar 25, 2024 12:04pm
You need to have people shorting the stock in order to execute a short squeeze. The 8,000 shares being shorted won't be anything for them to cover. No short squeeze here.
Comment by
tylerreddick on Mar 25, 2024 12:09pm
Oh yes, of course. I haven't checked the short position on DWAC, so maybe not an issue there. But the simple fundamentals of a total lack of value, added to the involvement of one of the most disgusting people on the planet, makes it an obvious sell. I did short DWAC for a few quick bucks, but know better than to get too far in front of the stupid train for too long! :o)