DWAC Stock Price: Digital World Acquisition dips despite third straight day of market gains
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UNLOCK OFFER- NASDAQ: DWAC fell by 0.29% during Thursday’s trading session.
- Gettr and Parler are improving their platforms as Truth Social still flounders.
- Trump is having a hard time attracting his legion of followers to the app.
NASDAQ: DWAC is on track to post yet another losing week, even though the market relief rally continued for a third consecutive day. Shares of DWAC fell by 0.29% and closed the trading session at $67.80. Investors shrugged off the interest rate hike from the Federal Reserve on Wednesday, as all three major indices continued to rebound. The Dow Jones added 417 basis points as oil futures climbed higher by nearly 10% for its largest gain since the start of the Ukraine invasion. The S&P 500 gained 1.23% while the NASDAQ extended its hot streak to gain 1.33% during the session.
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While Truth Social continues to struggle with its rocky launch, the platform’s primary conservative competitors are improving their own apps. Recently right-wing site and home of former first lady Melania Trump, Parler, added an NFT marketplace to its app and even launched a line of Trump NFTs. Another right-wing social media platform, Gettr, is adding integration to Twitter (NYSE: TWTR) to allow for users to broadcast content across multiple different platforms. Meanwhile, Truth Social is experiencing the growing pains associated with implementing a social media app, both on the technical side and with enticing user engagement.
DWAC stock forecast
Former President Trump has been frustrated with the lack of user migration to Truth Social. At one point during his presidency, Trump had over 85 million followers on Twitter, but so far on Truth Social that number sits at 313,000. It doesn’t help that Trump has barely used his own app himself, but it remains to be seen how many of his 85 million Twitter followers were legitimate accounts.
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- NASDAQ: DWAC fell by 0.29% during Thursday’s trading session.
- Gettr and Parler are improving their platforms as Truth Social still flounders.
- Trump is having a hard time attracting his legion of followers to the app.
NASDAQ: DWAC is on track to post yet another losing week, even though the market relief rally continued for a third consecutive day. Shares of DWAC fell by 0.29% and closed the trading session at $67.80. Investors shrugged off the interest rate hike from the Federal Reserve on Wednesday, as all three major indices continued to rebound. The Dow Jones added 417 basis points as oil futures climbed higher by nearly 10% for its largest gain since the start of the Ukraine invasion. The S&P 500 gained 1.23% while the NASDAQ extended its hot streak to gain 1.33% during the session.
Stay up to speed with hot stocks' news!
While Truth Social continues to struggle with its rocky launch, the platform’s primary conservative competitors are improving their own apps. Recently right-wing site and home of former first lady Melania Trump, Parler, added an NFT marketplace to its app and even launched a line of Trump NFTs. Another right-wing social media platform, Gettr, is adding integration to Twitter (NYSE: TWTR) to allow for users to broadcast content across multiple different platforms. Meanwhile, Truth Social is experiencing the growing pains associated with implementing a social media app, both on the technical side and with enticing user engagement.
DWAC stock forecast
Former President Trump has been frustrated with the lack of user migration to Truth Social. At one point during his presidency, Trump had over 85 million followers on Twitter, but so far on Truth Social that number sits at 313,000. It doesn’t help that Trump has barely used his own app himself, but it remains to be seen how many of his 85 million Twitter followers were legitimate accounts.
Like this article? Help us with some feedback by answering this survey:
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