MEME, NFTs, SPAC STOCKS ARE EMPTY VESSELS
As we have repeatedly said, do not invest in anything that has NO assets: NFTs (Non-fungible tokens), SPACs (companies with no money to back them up used to buy other low-value companies), and memes (fads). A recent example of a SPAC company being used to inflate the worth of a company is Trump Media & Technology Group (DJT). This social media platform completed its SPAC merger with Digital World Acquisition and began trading on the Nasdaq stock exchange last Tuesday, 3/26/2024, at 9:30 AM, NY, NY. The stock rocketed higher out of the gate and climbed even higher, ending the week’s trading up 67.7%. How long will it last? History says not long as it has no detectable assets! Its technicals are not inspiring but its IPO chart has an aspect (Jupiter sextile Saturn) sometimes known as “with a little help from my friends”. And this may keep the stock succeeding, with large investments from shareholders. There are better stocks to buy!