Trump-sensitive stock Digital World Acquisition Corp. popped up 4 percent higher shortly after the markets opened on Thursday. The SPAC, which merged with Trump Media and Technology Group public in October plans to launch its social media app, Truth Social, on Feb. 21. The app will have similar features to Twitter Inc. but posts will be referred to as “truths” as opposed to “tweets.” On Wednesday, options traders piled into Digital World with over 80,000 options traded on the day. Calls amounted to about 77 percent of the total options traded and about half of the contracts expire this Friday. The Digital World Chart On Wednesday, Digital World broke up through a key resistance level at $66.31 that had been holding the stock down since Oct. 29. Digital World then printed a bullish Marubozu candlestick on the daily chart, which indicated higher prices were likely to come on Thursday. On Jan. …
Why Trump’s Merger Partner Digital World Stock Is Headed for All-Time Highs
January 14, 2022
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