***Here's why WallStreetBets founder Jaime Rogozinski is tapping Trump's new SPAC as the clear meme trade of the day***
Keeping a close eye on Reddit’s WallStreetBets forum has been a good idea for investors.
The 11 million-member Internet community led the charge during GameStop’s two-week 1,500% short-squeeze in January and is largely responsible for AMC Entertainment’s massive 1,800% year-to-date run-up.
Those incredible gains have led to the downfall of several hedge funds that made large leveraged bets against the companies in question, ultimately getting caught on the wrong side of the trade.
But what’s the next opportunity for retail investors?
In a recent interview with Stansberry Research, WallStreetBets founder Jamie Rogozinski discussed a few ideas — including the Trump-linked SPAC — that might provide the next set of big short-term returns.
Some of these suggestions are particularly volatile. So be sure to do your due diligence before making any moves.
GameStop and AMC aren’t the only stocks that have shot to the moon this year.
In late October, shares of Digital World Acquisition Corp skyrocketed from less than $10 apiece to as high as $175 before giving up some of the gains.
DWAC is a special purpose acquisition company that plans to merge with a social media company linked to former President Donald Trump.
Trump’s SPAC is clearly “a new stock on the menu” for the WallStreetBets crowd, Rogozinski told Stansberry.
When asked about which stocks he thought the forum would ride next, he answered, “I think it’s clear that this one is next and I think it’s going to be a while before they move on to the next one.”
“This is not a short squeeze situation. I believe the move is based off of inherent demand for this thing. There’s a lot of excitement and I think the price speaks for itself.”
Today, DWAC trades at around $57 per share, marking a near 500% return in just a few short weeks.
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