It’s promising to be an interesting story to watch if nothing else. Overnight DWAC announced a deal with Trump Media to start a social media company to compete with “Big Tech.”
This news comes on the heels of FB’s plans to rebrand and create a metaverse. Don’t ask me what it is but all the big tech is in on it. SNAP, GOOG, GOOGL have already announced research and investment plans. MSFT and V are in the space as well.
The social media space is dominated by large blue-chip companies. Invading the space will be difficult for Trump. So the best bet for me on DWAC is grabbing some popcorn and watching from the sidelines.
The metaverse does have some potential investment opportunities. VRAR with a tiny market cap of about $100 million has an existing partnership with SNAP. This low float micro-cap stock is one of few companies working on the virtual reality and augmented reality revolution.
More to come on that front but we need to move on today…
Bitcoin made new all-time highs yesterday and is holding the breakout this morning. Six figures by end of the year? Anything is possible at this point.
Evergrande began trading again and dropped 14%. Markets are eyeing China and the supply chain snags as the major indexes flirt with record highs. Futures are down this morning. Some sideways action is expected before the next leg up.
I took partial profits yesterday and am looking to rebuy into any big dips.
I’m still risk on for swings, but risk off for day trading. Full disclosure I do have a small position in VRAR and SNAP.
*HX is on watch
*PT has resistance at $1.25
*HUDI is on watch
*SHPW has support at $11
DWAC is on watch
MGTX has resistance at $21.50
PBT is on watch
BRY has resistance at $10
HUT has resistance at $13
SLI has resistance at $11
DNA is on watch
UEC has support at $3.80
KOS has support at $4
SOFI watching for a setup above $21
OTC stocks (on watch, no levels):
ILUS, AITX, OZSC, LIGA, TONR, BTZI