Digital Asset Acquisition (NASDAQ:DAAQ) Trading Down 0.1% – Should You Sell?

Digital Asset Acquisition Corp. (NASDAQ:DAAQ) was down 0.1% on Wednesday . The stock traded as low as $10.23 and last traded at $10.23. Approximately 11,704 shares changed hands during trading, a decline of 92% from the average daily volume of 154,723 shares. The stock had previously closed at $10.24.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on DAAQ shares. Wall Street Zen raised shares of Digital Asset Acquisition to a “hold” rating in a research note on Saturday, December 13th. Weiss Ratings restated a “sell (e+)” rating on shares of Digital Asset Acquisition in a report on Wednesday, December 24th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Digital Asset Acquisition presently has an average rating of “Sell”.

Digital Asset Acquisition Stock Down 0.1%

The firm has a fifty day moving average price of $10.21.

Institutional Investors Weigh In On Digital Asset Acquisition

Several institutional investors have recently bought and sold shares of DAAQ. Virtu Financial LLC purchased a new position in shares of Digital Asset Acquisition in the 4th quarter valued at $869,000. Alberta Investment Management Corp acquired a new stake in Digital Asset Acquisition in the 4th quarter valued at $5,610,000. Readystate Asset Management LP raised its position in Digital Asset Acquisition by 4.7% in the fourth quarter. Readystate Asset Management LP now owns 26,174 shares of the company’s stock valued at $267,000 after purchasing an additional 1,174 shares during the period. Rivernorth Capital Management LLC lifted its stake in shares of Digital Asset Acquisition by 33.6% during the fourth quarter. Rivernorth Capital Management LLC now owns 198,852 shares of the company’s stock worth $2,020,000 after purchasing an additional 50,026 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC boosted its position in shares of Digital Asset Acquisition by 62.3% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 130,046 shares of the company’s stock worth $1,321,000 after buying an additional 49,923 shares during the period.

About Digital Asset Acquisition

We are a special purpose acquisition company incorporated on December 9, 2024 as a Cayman Islands exempted company and formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses, which we refer to throughout this prospectus as our initial business combination. We have not selected any business combination target and we have not, nor has anyone on our behalf, initiated any substantive discussions, directly or indirectly, with any business combination target.