Digital Asset Acquisition (NASDAQ:DAAQ) Trading Up 0.1% – Here’s What Happened

Digital Asset Acquisition Corp. (NASDAQ:DAAQ)’s stock price was up 0.1% during trading on Thursday . The stock traded as high as $10.24 and last traded at $10.22. Approximately 463,113 shares were traded during mid-day trading, an increase of 86% from the average daily volume of 249,451 shares. The stock had previously closed at $10.21.

Analysts Set New Price Targets

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

Digital Asset Acquisition Trading Up 0.1%

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Digital Asset Acquisition stock. Cannon Global Investment Management LLC purchased a new position in shares of Digital Asset Acquisition Corp. (NASDAQ:DAAQ) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 16,500 shares of the company’s stock, valued at approximately $168,000. Cannon Global Investment Management LLC owned 0.10% of Digital Asset Acquisition as of its most recent SEC filing.

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.