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- 1 DWAC stock surged 3.90% in the weekly time frame and 10.74% in the monthly time frame.
- 2 Digital World Acquisition Corp. (DWAC) market cap rose around 10% in 2023.
- 3 DWAC stock peaked at $29.80 and is lowest traded at $12.34 in the past 52-week time frame.
DWAC’s stock price surged significantly, adding 66.44% to its trading price in the maximum time frame. However, at the time of publication, Digital World Acquisition Corp. stock was trading at $16.54, with a surge in buyers’ dominance in the session’s opening.
Digital World Acquisition Corp. (DWAC) Stock Price Analysis
In the 52-week time frame, DWAC stock peaked at $29.80, and its lowest traded is at $12.34. Digital World Acquisition Corp. has a market capitalization of $614.907 Million, and the market cap rose around 10.20% this year as compared to 2022.
While writing, DWAC stock was trading below the 200-day exponential moving average (EMA) and above the 20, 50, and 100-day EMA. Its prices surged over 3.70% and 10.74% in the weekly and monthly time frames.
The MACD and signal lines reflect a bullish crossover, and bull accumulation is seen above the histogram. From September 12 till September 27, DWAC stock price consolidated between $16 and $18. Digital World Acquisition Corp. does not pay dividends to its shareholders.
Digital World Acquisition Corp. (DWAC) Financial Updates
No appropriate financial statements of the company are available. TradingView data states that 28.888 Million DWAC shares are free-floating, and the remaining 1.133 Million are closely held.
Some major institutional holders of Digital World Acquisition Corp are Susquehanna International Group, LLP, and Parallax Volatility Advisor. As per TradingView, the company’s net income in 2022 was negative $15.22 Million, operating income was negative $18.50 Million, and pretax income was $14.24 Million.
Digital World Acquisition Corp. is a blank check company that was formed to acquire, engage in a share exchange, share reconstruction and amalgamation with, purchase all or substantially all of the assets of, enter into contractual arrangements with, or engage in any other similar business combination with one or more businesses or entities.
Technical Levels
Support Levels: $15.35 & $14.56
Resistance Levels: $16.98 & $17.78
Conclusion
As per the market analyst, DWAC stock’s continuous surge supports its aim to retest the nearest resistance. Digital World Acquisition Corp. stock added 3.90% & 10.47% to its trading price in the weekly and monthly time frame. The MACD and signal lines reflect a bullish crossover, and bull accumulation is seen above the histogram.
Disclaimer
The views and opinions stated by the author or anyone 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.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
