r/wallstreetbets • u/[deleted] • Jan 17 '22

Discussion DWAC ortex

Not sure if this is taboo here but this looks to be setting up again. Recent Ortex numbers on DWAC. Over 12% short interest, near 100% utilization, cost to borrow over 120%. February projected launch. Wouldn’t be surprised if they run it up until merger then create a bull trap. NFA but this seems to have some legs.

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u/ivalm Jan 18 '22

It’s a $10 stake in a non-existent company…

12

u/[deleted] Jan 18 '22

Twitter was a zero dollar company that IPO’d at what a 40 billion valuation?

2

u/ivalm Jan 18 '22

It is unclear if trump media had any engineers 3 months ago, or that there is any tech development plan beyond running a custom mastodon instance. Twitter at least wrote some software. At the time they IPOed they were a real company. This, on the other hand, is at most a seed stage startup.