How To Buy DWAC Stock In 2023 - Comprehensive Guide

Last Updated January 5th 2023
15 Min Read

This comprehensive stock investing guide will teach you how to buy DWAC shares from regulated brokers in 2023. We will outline the near-standard share-buying process embraced by most online stock brokers before breaking it down and explaining each step in detail.

By the end of this article, you will know where to buy DWAC shares in 2023. You will also have learned everything you need to know before buying DWAC shares, including company history, financial health, stock price history, and factors affecting its share price action. But even more importantly, you will have decided whether DWAC is worth investing in in 2023.

Read on.

How To Buy Digital World Acquisition Corp. (DWAC) Stock – Overview

Here is an overview of the DWAC stock-buying process. It is smooth and straightforward, which explains its adoption by virtually all the popular regulated stock brokerages.

  • Step 1: Create a share trader account – The first step to investing in a company shares is registering a share trader account with a regulated and reputable online broker. In this case, registering refers to furnishing your broker with basic personal information.
  • Step 2: Verify your identity – Every regulated broker will ask you to verify your identity before depositing funds or trading. This involves furnishing them with a copy of your government-issued identification document like a passport or drivers driver’s license.
  • Step 3: Deposit funds – After receiving the account approval notification, log in and fund that account. Note that different brokers support varied payment options and maintain different minimum initial deposits and trade minimums. Take this into account when choosing the best DWAC share broker.
  • Step 4: Buy DWAC shares – Once the funds reflect in your trader account, find DAWC shares and open a buy order.

That’s it! By following these easy steps, you can buy DWAC shares in less than 10 minutes.

 

buy DWAC stock

Your capital is at risk. Other fees apply.

 

Below, we explain each of these steps in detail. We discuss the three best DWAC share brokers and factors to consider when choosing the broker that works for you. We will then look at what you need to know about DWAC Company and its share price before teaching you how to buy your first stock at an online brokerage.

The DWAC Stock Buying Guide - Reviewed

Step 1: Decide Where To Buy DWAC Stock

The fact that DWAC is currently listed with hundreds of online brokerages makes the choice of the best broker rather complicated. To find the best broker for you, here are a few things you need to consider.

First, you need to ensure that your preferred broker is regulated by the likes of the SEC and FCA. Additionally, they should be of solid repute in terms of customer service and reliability. You also need to ensure the preferred broker aligns with your investing goals.

Other key considerations to put in place when vetting the best share broker include the following:

  • Cost of trading: Check all the fees and charges levied by your preferred broker – both trading and non-trading. Assess the impact they will likely have on the profitability of your DWAC trades. Only consider brokers with the most affordable charges.
  • Investment options: Before choosing a broker, determine if you want to buy actual shares and invest long-term or trade share CFDs over the short term. Then register with an online broker that supports your investing strategy.
  • Research and tools: It is also important that your preferred broker integrates all the necessary tools and resources. These include demo accounts and education content for beginner investors. They then extend premium risk management, analytic tools, and trading tools that appeal to pro traders.
  • Ease of use: The broker should also be easy to use. They should maintain a smooth onboarding process, support many popular deposit/withdrawal options, and run an intuitive/navigable trader interface.
  • Account minimums: Before registering with a broker, ensure that you can afford their minimum deposit/trading minimums. Note that some brokers do not support fractional share ownership, which may lock you out of investing in expensive but highly lucrative shares.

To help you get started with the search for the best DWAC share broker, our analysts have scoured the markets and vetted tens of highly popular and reliable brokerages. Ultimately, they settled on the following three as the best places to buy DWAC stock in 2023.

  • eToro – Best DWAC Stock Broker for User-Friendliness and Copy Trading

Launched in 2007 as a forex trading platform, eToro gradually morphed into one of the largest multi-asset and multi-regulated online brokerages. Today, you can buy DWAC stock and 3000+ more shares on the platform. You also get to interact with thousands more instruments in the form of forex, indices, ETFs, commodities, and crypto.

The brokerage, however, stands out among the best DWAC share brokers because of its user-friendliness and affordability. It not only has a smooth and straightforward client onboarding process but also operates a highly intuitive user interface. It maintains proprietary trading platforms (web and mobile) that integrate a host of educational content and advanced trading tools.

To start buying DWAC shares on the commission-free brokerage, you first need to deposit at least $10. And if you wish to copy trade, the minimum trading amount required is $200. Both forms of share investing do not attract additional trading fees.

Copy trading has become wildly popular because it allows any eToro platform user to earn passively. Copiers make money when they mirror the trade settings of successful investors into their accounts. Expert investors, on the other hand, are rewarded a commission by eToro for allowing others to copy their trade settings.

buy DWAC stock

Your capital is at risk. Other fees apply.

  • Webull - Best for Zero Commission and Long-Term Investing

Webull is a US-based online brokerage that has positioned itself as one of the best places to buy DWAC shares because of its affordability. Like eToro, Webull is a commission-free broker. But unlike eToro – which supports the purchase of both actual shares and share CFDs trading, Webull will only let you invest in actual shares. And here, you get to buy DWAC and 5000+ US-based shares and international ADRs.

The broker, nevertheless, supports fractional share ownership – and you can start buying DWAC shares on Webull with as little as $5. It also doesn’t maintain a minimum initial deposit. Note, however, that it only supports two payment options – ACH Checks and bank transfers. Check payments are free, but bank deposits and withdrawals attract an $8 and $25 processing fee – respectively.

We also rank Webull highly among the best DWAC share brokers because it lets you invest in the stock market with your IRA. This refers to a tax-advantaged and long-term investing account designed to help US residents plan for retirement. Unlike traditional investing, capital gains from your DWAC stock invested in an IRA account are tax-exempt – which makes it attractive to long-term investors.

  • Capital.com Best for Innovativeness

Unlike both eToro and Webull, Capital.com is a pure CFD trading platform. You, therefore, do not get to own the shares traded on the platform. But like the two trading platforms, Capital.com is a user-friendly and affordable broker. It is commission-free, and you will only have to pay a competitive spread when trading stocks on the platform.

To start buying DWAC shares on Capital.com, you will need to first deposit a minimum of $20. Both deposits and withdrawals are free, and you have access to a wide range of payment methods, including banks, cards, and eWallets like PayPal. Capital.com also supports fractional share trading and margin trading – with leverages of up to 1:5. Note that leveraged trades that remain open overnight will also incur variable swap fees.

But we especially featured Capital.com among the best DWAC share brokers because of its innovativeness. For starters, it maintains a highly intuitive trading interface with some of the fastest order execution speeds. It also integrates 70+ premium technical analysis tools into the platform. More importantly, though, the platform is AI-powered – and has consistently played a critical role in helping traders eliminate bias in their investment strategy through post-trade behavior analysis.

 

Step 2: Research DWAC Stock

Before hitting the BUY option on DWAC stock at any brokerage, gather as much information as possible about the brand and its past price action. Most brokerages that list DWAC stock – including the three we have discussed above – will provide you with briefs about the company and charts plotting DWAC stock price since its IPO.

Below, we complement the broker-provided information and provide you with a more detailed overview of the DWAC company and stock. We also tell you what to watch out for when investing in DWAC.

What is DWAC? 

DWAC (Digital World Acquisition Corp) is a special purpose acquisition company (SPAC) – commonly referred to as a “blank cheque company.” It was incorporated in 2020 and has its headquarters in Miami, Florida. The company was formed to effect a business merger, stock purchase, asset acquisition, or capital stock exchange and went public in October 2021.

In late October 2021, DWAC inked a deal to take Trump Media and Technology Group (TMTG) public. The deal was supposed to be completed before the end of 2022, but in September 2022, DWAC asked its investors for a one-year extension to September 2023 – which was given through a shareholder vote in early December 2022. The delay has been occasioned by the ongoing SEC investigations of the merger. The watchdog committee is probing whether DWAC initiated merger talks with TMTG before raising funds – which would be a violation of regulations.

At the time of writing, TMTG primarily comprises the budding Truth Social, which currently has 2 million monthly active users. Moving forward, the company is looking to launch the TMTG+, a subscription-based digital content streaming platform, before eventually launching a podcast hosting platform.

In 2021, investors committed $1 Billion to TMMTG upon the merger conclusion. And by 2026, Truth Social expects to have grown its user base to 81 million and revenue per user past $13, while the TMTG+ expects to have 40 million subscribers paying $9 monthly.

DWAC Historical Price Performance

DWAC shares started trading publicly on 1st October 2021 and averaged $10 for the first half of that month. But as soon as rumors of the deal with Trump Media and Technology Group emerged, DWAC stock price rallied ninefold to reach $95 on 22nd October.

The rally was, however, followed by an equally quick correction that saw DWAC shares shed as much as 50% of this peak price less than a month later. It only started rallying again in January 2022 – triggered by the news that President Trump was looking to launch his own social media company. Truth Social has effectively birthed in late February, and DWAC stock price peaked above $97 – its current all-time high on 4th March.

Since then, the stock has been on a downtrend and is currently trading more than 80% below its peak price – which could be attributed to several factors. The most apparent is the sustained bearish market that has rocked the economy throughout 2022.

It could also be reacting to a continued downtrend in tech stocks due to higher interest rates - with the likes of META losing close to 70% in the year. The loss could also have been occasioned by the ongoing SEC investigations that have delayed the DWAC-TMTG merger.

Factors Affecting DWAC Share Price

Even though DWAC is a relatively new stock that has only been around for slightly over a year, it is evidently a highly volatile investment. During this period, it not only rallied 950% in a week (in October 2021) but also lost 80%+ in the nine months leading to December 2022.

If you are looking to invest in DWAC, here are a few factors that you can expect to influence its stock price and your hold or sell decisions:

  • SEC investigations outcome: The outcome of the SEC investigations will have a significant impact on DWAC stock price. A positive outcome, like a green light for the merger, would send DWAC shares skyrocketing. A negative ruling like fines and restrictions would, on the other hand, send DWAC stock price further down - while the halt of the merger would crash DWAC.
  • Trump: DWAC and TMTG are closely allied to Trump and his personal brand. His actions will, therefore, have a direct bearing on DWAC stock price. For example, in the build-up to the announcement that he was running for the presidency in 2024, DWAC’s stock price rallied. The 6th January committee investigations and negative reporting have, on the other hand, had a negative bearing on DWAC stock rice.
  • Industry trends: DWAC is a tech stock whose price action closely mirrors that of the tech industry stocks. We expect it to continue following their price action in 2023 and beyond.
  • Investor actions: In light of the ongoing merger delays, DWAC investors have pulled close to $140 Million from the SPAC. The SPAC’s ability to welcome new investors and retain current investors will have a direct and significant impact on DWAC stock price.
  • TMTG growth: TMTG has already launched the Truth Social platform (both web and mobile app). Its ability to cover its growth roadmap by launching new products and welcoming more users will also impact DWAC stock price – heavily.

buy DWAC stock

Your capital is at risk. Other fees apply.

Step 3: Open A Share Investor Account And Buy DWAC Stock

Are you looking to start buying DWAC shares right now? Here is a detailed step-by-step guide that shows you how to acquire your first DWAC stock via the all-popular and user-friendly eToro online brokerage.

  • Open a stock broker account

On your browser, open the official eToro website or download the eToro mobile trader app from the app store. Click on the “Join Now” icon and complete the registration form that pops up. This seeks to capture your basic personal details, your trading experience, and income sources. You will also need to create a strong password for the account and set the account name.

open trading account

  • Verify your identity

To complete the registration process, the verified broker will require you to verify your identity. Simply submit a copy of your government-issued identification document – i.e., your national ID, passport, or driver’s license.

etoro account verification

  • Deposit funds

eToro will email you the account-approval notification. Log in to the account and press the “Deposit Funds” icon. A funding tab will pop up, showing you all the deposit methods available to you. Click on your preferred payment option and follow the prompts to fund the account. The minimum you can deposit is $10 (for UK and US residents) and $50 for everyone else.

fund account

  • Buy DWAC stock

On the user dashboard, click on the “Discover” tab to reveal the supported assets. Choose “Stocks” and find DWAC from the list of supported shares. Tap on the “BUY” option, and on the trading tab that pops up, customize the purchase by indicating the number of DWAC shares you wish to buy or the investment amount. Hit the “Open Trade” button to confirm the purchase.

buy DWAC stock

buy DWAC stock

Your capital is at risk. Other fees apply.

DWAC Stock Strengths And Weaknesses

Is DWAC worth investing in 2023? You must ask yourself this question before hitting the BUY button on any exchange. Compare and contrast the different benefits and possible demerits of investing in DWAC this early and only place a buy order if you believe it will grow your capital.

To help you answer this question, we have identified a few reasons why you should consider investing in DWAC this early and a few more why the SPAC may not be the best buy at the moment.

Reasons to Buy DWAC Stock in 2023

  • Potential future gains: Companies have survived worse at the hands of the SEC, and this raises investor confidence about the eventual DWAC +TMTG merger. When this eventually happens, and the new company goes public, you may expect your investment to grow several-fold.
  • Solid growth roadmap: TMTG has a solid growth roadmap that we expect to continue playing a critical role in driving up DWAC stock price. It has already launched Truth Social and is expected to launch TMTG+ and podcast platforms soon.
  • Trump’s influence: Trump’s refusal to rejoin Twitter – even after Musk’s takeover, the fact that he is running for office in 2024, and his perceived business acumen are all expected to continue driving DWAC share price up.

Reasons Not to Buy DWAC Stock Today

  • Too much heat on Trump and merger: On the one hand, a congress committee has recommended criminal prosecution against Trump. On the other, SEC investigations have paused the DWAC+ TMTG merger. There simply is too much heat and uncertainty facing this SPAC – which means today may not be the best time to invest in DWAC shares.
  • Looming recession: Two of the factors that saw DWAC stock price tank 80%+ below its October 2021 highs were a bearish market and down-trending tech stocks. Heading into 2023, the majority of analysts and economic forecasters are expecting the world to enter into a recession. This will crash the stock market and push DWAC’s stock price further down.

Conclusion - How To Buy DWAC Stock

DWAC is a special-purpose acquisition company started in 2020 with a particular focus on tech companies. In October 2021 – a few weeks after going public – it reached a merger deal with Trump Media and Technology Group.

This, plus a few other factors like the association with Former US President Donald Trump, the launch of Truth Social, and Trump’s bid for office in 2024 - helped push DWAC’s stock price up by more than 1000% to reach the current all-time high of $100 less than seven months after going public.

Nine months after this peak, however, DWAC share has crashed and shed more than 80% of this all-time high. This could be attributed to several factors, including a bearish market, poor tech industry performance, SEC investigations, and Trump’s woes.

There, however, is a growing optimism within the investing community that DWAC stock price may rebound and rally to new heights in 2023. But for this to come true, Truth social will need to grow its user numbers. Trump will also need to be cleared of any wrongdoing on 6th January criminal allegations, SEC will need to complete investigations, and the economy will have to start recovering.

eToro – Buy DWAC Stock With 0% Commission

Open an account with eToro, deposit some funds with USD, and finally – buy Shares from just $10.

eToro stocks trading

Your capital is at risk. Other fees apply.

FAQs About How To Buy DWAC Stock

How can I buy DWAC stock today?

Identify a regulated and reputable broker and create a share investor account with them. Deposit funds and place a buy order for DWAC shares.

Does DWAC pay dividends? 

No, DWAC does not pay dividends because it is not a revenue-generating enterprise. It was only formed to facilitate the acquisition of the TMTG group.

Will DWAC stock price rebound in 2023?

The many factors affecting DWAC stock’s future price action make it impossible for anyone to accurately tell if DWAC share price will rebound in 2023 or not. An extended delay on the merger by the ongoing SEC investigations, as well as the looming economic crisis, however, show that DWAC’s recovery may not take place as soon as investors may like.

Is DWAC worth buying in 2023?

There are many odds stuck against DWAC and its highly anticipated TMTG merge. And they, together with an underperforming Truth Social network, don’t make today the best time to invest in DWAC. However, the fact that companies have survived worse SEC investigations and Trump’s possible clearance to run for office makes it the best undervalued stock to bet on moving forward.

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