Digital World Acquisition Corp. (NASDAQ:DWACU) Sees Significant Growth in Short Interest

Digital World Acquisition Corp. (NASDAQ:DWACUGet Rating) was the recipient of a significant growth in short interest during the month of May. As of May 15th, there was short interest totalling 24,400 shares, a growth of 80.7% from the April 30th total of 13,500 shares. Based on an average daily volume of 8,600 shares, the days-to-cover ratio is presently 2.8 days.

Digital World Acquisition stock opened at $49.90 on Friday. The stock has a fifty day moving average price of $57.61 and a 200 day moving average price of $69.89. Digital World Acquisition has a 52 week low of $9.98 and a 52 week high of $143.53.

A number of institutional investors have recently added to or reduced their stakes in DWACU. Wolverine Asset Management LLC purchased a new stake in Digital World Acquisition during the third quarter valued at about $8,144,000. Periscope Capital Inc. purchased a new stake in Digital World Acquisition during the third quarter valued at about $6,088,000. Highbridge Capital Management LLC purchased a new stake in Digital World Acquisition during the third quarter valued at about $11,184,000. Context Advisory LLC purchased a new stake in Digital World Acquisition during the third quarter valued at about $18,178,000. Finally, Hudson Bay Capital Management LP purchased a new stake in Digital World Acquisition during the third quarter valued at about $24,565,000.

Digital World Acquisition Company Profile (Get Rating)

Digital World Acquisition Corp. does not have significant operations. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses in the technology, SaaS, fintech, or financial services sector in the Americas.

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