Update (1000ET): Having been halted for 30 minutes, DWAC just reopened at $175 and immediately dropped to be halted again (15 seconds later)...
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Update (0930ET): As US cash markets open, DWAV has just topped $130... for a 1200% gain from before yesterday's announcement...
DWAC was halted for upside volatility 41 seconds after the open.
What next?
DWAC needs to hit only $83,333 to become the world's largest company
— zerohedge (@zerohedge) October 22, 2021
Additionally, shares of Phunware Inc. (PHUN) surged more than 1000% Friday morning. Austin-based Phunware is an advertising startup that has been associated with former President Donald Trump's 2020 presidential campaign, and appeared to be getting a lift from the DWAC SPAC deal.
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Special purpose acquisition company (SPAC) Digital World Acquisition Corp. (ticker: DWAC), is continuing to charge higher this morning in pre-open trading, topping $80.
An astonishing half a billion shares changed hands during regular hours on Thursday. That’s around 17 times the number available.
The holding company for Trump Media & Technology Group - which is creating a new social media platform called "TRUTH Social" - is up over 700% since its announcement before yesterday's open.
But not everyone who was in early participated in the dramatic run-up.
Saba Capital sold holdings in Digital World Acquisition in the first hours of trading Thursday for a small profit, the New York Times’s DealBook reports, citing a statement from Boaz Weinstein.
“I knew that for Saba the right thing was to sell our entire stake of unrestricted shares, which we...