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- 1 DWAC stock trading volume has been reflecting speculative activities for the past 52 weeks.
- 2 In the weekly and monthly time frame, DWAC stock declined 1.96% in a week and over 8.91% in a month.
- 3 A constant decline in Digital World Acquisition Corp. market capitalization is seen.
DWAC stock had shown a continuous decline since the beginning of 2023 and lost 40.64% of its trading price. On August 28, Digital World Acquisition Group lost 4.75% of its trading value.
DWAC Price Analysis
In past trading sessions, sellers were more active as compared to buyers, which helped them drag DWAC stock prices downwards. A drop of 70.83% has been noticed in the Digital World Acquisition Group since October 30, 2021. In March 2022, the company marked a milestone when its market capitalization was $3.63 Billion.
At the time of writing, Digital World Acquisition Group has a market capitalization of $0.56 Billion. Dozens of market observers claim that, if buyers gained control over trading volume, then there are possibilities that the DWAC stock price might break the immediate resistance of $16.
The RSI is below neutrality and the signal line is close to the curve. A bounce to retest the trendline toward $50 is expected. In the weekly and monthly time frame, DWAC stock declined 1.96% in a week and over 8.91% in a month.
In the 52-week time frame, the highest trading price of DWAC stock was $29.80 and it lowest traded at $12.34. As per available data 28.888 Million DWAC shares are free-floating and the remaining 8.32 Million are closely held.
Digital World Acquisition Corp. is a blank check company, which was formed for the purpose of acquiring, engaging in a share exchange, share reconstruction and amalgamation, and several other tasks are performed by the company.
Earnings and Revenue Results of Digital World Acquisition Corp
In the financial year 2022, Digital World Acquisition Corp has reflected a negative revenue and its net income of -$15.22 Million. As per available data, the company generated -$18.50 Million as operating income, -$14.24 Million, and pre-tax income -$14.24 Million.
As per relevant information, the company has a total pending debt of $3.93 Million and its cash flow is -$1.38 Million. In long-term- term assets of Digital World Acquisition Corp are $300.33 Million and its liabilities are $10.06 Million.
Conclusion
As per market analysts, DWAC stock might trade in a specific range between $13 and $16. Buyers and sellers are equally contributing to the trading volume, but at some specific point in time, sellers might dominate buyers. If RSI crosses the trendline of $50, then there are chances that DWAC stock price might surge further. Speculative activities are quite common in this stock.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
