On November 17, 2021, Turbo Trading's Head Trader Robert Knight, MBA takes a look at stocks $RIVN and $DWAC and discusses the similarities and differences between the promotion of these two stocks. A transcript is below the video.
This is a video on the difference between $RIVN and $DWAC, the stock promotion, but between the two now $RIVN is a new listing they'd raised, and these are all going to be key points. They raised 70 billion. I think it was, in an IPO at $74 a share. It's EV stock, new electric truck.
Now it has sold off sharply here today, but this thing came, you know, it was a $74 underwriting and it spiked in 2, 4, 5 days to $180 now backed off this to $143, but you know, a huge move and continuation. And I'll talk about these in a second. Whereas $DWAC was a SPAC. Now it also spiked from $10 to $170.
So as far as the percentage move huge, much, much bigger, but now languishing and here at $60, trading in a sideways pattern. And I would think that this actually pulls down lower. $DWAC has no revenues, no assets, I think they have a program that got hacked. But this is going to be a social media platform used by former president Trump to promote whatever he's promoting.
And $RIVN is an EV company, which is, you know, very hot at the moment. This is, you know, we saw the $LCID, double in two or three days here, a Tesla, you know, going from $700 to $1200. So this is a very, very hot sector. The EV sector and this company is, you know, big promoters. I mean, Amazon's a big shareholder of it.
I think GM is a big shareholder of it. So, and this has a worldwide audience and so when this starts to go, there's a lot of people that are watching this and can buy it. And because it's a hot sector, that's worldwide, you know, everybody has an interest in it. Big names in it.
And so it gets this big pop it's probably, you know, tightly held, it gets a big pop and comes back now, you know, it is pulling back now, but an initial, a lot of interest. So that's why that one goes. But $DWAC only goes for a day. Two days spiked up from $10 to $180. And now backing off going sideways.
The universe of buyers for this stock is much less. It's a media company, a social platform. I mean, it's a good idea. Just like $RIVN is a good idea, but it's not topical. I mean, $RIVN is the hotspot in the world. And then this has a smaller, much smaller universe of buyers. With all due respect to President Trump, I don't want to politicize this, but you know, it's basically the, you know, the right-wing, Fox news Watchers that are participating in this stock.
And then, of course, everybody else jumped on, but once it started to come off, then the shorts really come into it. And there's a bigger universe of short sellers for a company like this than there is for short-sellers in a hot sector. So it all comes down to the promoter, how well they can promote it.
And the sustainability of the idea that's behind it. Both of them, I think, come back, we'll come back down to earth into, you know, more realistic numbers. Because neither of them have any sales. This one is and $DWAC who is even less, of a company because it only has an idea. It doesn't really have anything, any assets, I mean, I think it does have a technology, but anybody could produce the social media technology. I'm sure anybody can produce one of those. So that's the difference, the big difference between the two.