Same thesis as before, but cut losses again. Hoping for a good push in premarket, otherwise I'll probably leave alone since this took a LONG time to fade. ALSO....other Social Media tickers are all falling like knives; Trump's social media might be a good alternative for the sector and actually do well. Just on sidelines right now.
Shorted after consolidation and exhaustion; thesis is there will be a pullback on DWAC which added PIPE to its SPAC (which will eventually dilute the SPAC post-merger). PHUN has a ton of bagholders from its supernova and is also a larger float post offering. Exit: Wasn't able to crack and I cut for a tiny gain, will look to re-enter.
Entered this as a sympathy to DWAC breakout and volatility halt prior to close, goal is a break of 3.50 or more if it holds. Exit: Didn't like the price action with DWAC after unhalt and sold once it pulled back under 3.60. May re-enter. (Note: lost focus on this and missed the bigger move)
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