#Pizza frenzy big fish professional

The last time Trump ran a publicly traded company, it didnвЂ™t end up well for investors. вЂњOverall, I think itвЂ™s a big difficulty because it leads to their prices being inflated,вЂќ Ohlrogge said.ДЄll the action in Digital World AcquisitionвЂ™s stock is happening before investors have even had a chance to see a proxy statement, which will give details about the merger and possibly about how Trump Media & Technology Group will operate. With few short sellers, that can remove a force pushing a stockвЂ™s price down, allowing it to jump even higher than it would otherwise. ГЌt can be difficult for skeptical investors to bet that a SPACвЂ™s price will fall, a move called вЂњshorting,вЂќ said Michael Ohlrogge, an assistant professor of law at New York University who has researched SPACs. They were wildly popular earlier this year, but activity had been receding as regulatory scrutiny on them and interest in them dimmed, at least until WednesdayвЂ™s Trump-related announcement. SPACs can offer privately held companies a quicker and easier way to get their stocks on an exchange, by merging with them. ItвЂ™s sitting on a little less than $300 million of cash that it raised in its own initial public offering, before it went looking for a company to acquire. Trading in Digital World Acquisition Corp.вЂ™s stock was so furious, and swings in its price were so sharp, that it was temporarily halted a dozen times on Friday.Дigital World Acquisition is a special-purpose acquisition company, something thatвЂ™s typically called a SPAC or вЂњblank-checkвЂќ company.

#Pizza frenzy big fish professional

WallStreetBets gained fame early this year after its members helped drive GameStop and other formerly downtrodden stocks to extreme heights, levels that professional investors saw as dangerously untethered to reality.

Others were asking if they should listen to the fear they were feeling of missing out.

Several threads on RedditвЂ™s WallStreetBets forum, where millions of traders share their successes and failures, had users bragging about how much money they made by jumping in and out of Digital World Acquisition Corp. A big chunk of investors, though, appeared simply to be grabbing for a chance at a quick profit. Some investors appear to be believers in TrumpвЂ™s ideology, while others see a chance for the company to quickly gain a big audience. All of that could give investors pause, but not by enough to keep Digital World Acquisition Corp.вЂ™s stock from soaring. The company was incorporated in February but has yet to publish an app, offer details about its financials or say how much it plans to charge for its on-demand streaming and other services. The new venture, with Trump as its chairman, aims to challenge Facebook, Twitter and even DisneyвЂ™s streaming video service.Д®xperts are mixed on the companyвЂ™s prospects, and the deal announcing its merger with Digital World Acquisition was unusual in how few details it offered investors. In the morning, it climbed as high as $175.ДЄ day before, the stock more than quadrupled to $45.50 from $9.96 after it said it would merge with Trump Media & Technology Group. It then gave up a chunk of those gains, but it still ended the day with a 107% gain to $94.20.

nearly tripled in the first minute of trading before it was temporarily halted. NEW YORK (AP) - The company planning to bring President Donald TrumpвЂ™s new media venture to the stock market soared further on Friday amid another frenzy of trading.Дigital World Acquisition Corp.