DWAC – Special Meeting of Shareholders (Vote for extra time to complete Merge)

It is worth reading the link below for more information. They are simply trying to extend the deadline to complete the merger with TMTG by 6 months. A failure to secure that vote would likely lead to a very bearish day.

For the “Event” traders. successfully getting enough votes to extend the deadline would probably push DWAC shares higher by much more than the market average that day, as a lot of pessimism has been baked into the price due to the constant barrage of negative news about missing payments and membership numbers. That news was all a little subjective, but this vote will bring in an OBJECTIVE data point, do the investors have the patience to wait longer and belief that if they do they will be rewarded? We find out on October 10.

For the “runup” traders, DWAC takes it on the chin all the time because any news about them gets mixed in with news about Trump.  So even small or non-important stuff that’s reported can have a big impact on the price at any given time.  The runup period is going to be impacted negatively by any random bad news or re-hashing of old news that was bad then.  Monitoring the technicals (we would use the 90d1hr Williams %R [which would have to stay over -50 to remain bullish, objectively] and MACD at the very least) would be very important to try to catch any positive “runup.”

Link to information from DWAC: https://www.accesswire.com/716259/Digital-World-Acquisition-Corp-Provides-Additional-Guidance-on-October-10-2022-Special-Meeting