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

Digital Asset Acquisition Corp. (NASDAQ:DAAQ)’s share price 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 mid-day trading, a decline of 92% from the average daily volume of 154,723 shares. The stock had previously closed at $10.24.

Wall Street Analyst Weigh In

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

Digital Asset Acquisition Price Performance

The company has a fifty day simple moving average of $10.21.

Institutional Investors Weigh In On Digital Asset Acquisition

Several hedge funds have recently modified their holdings of the company. Cannon Global Investment Management LLC purchased a new stake in shares of Digital Asset Acquisition during the fourth quarter worth about $168,000. ABC Arbitrage SA purchased a new stake in Digital Asset Acquisition in the 4th quarter worth approximately $254,000. Readystate Asset Management LP raised its holdings in Digital Asset Acquisition by 4.7% in the 4th quarter. Readystate Asset Management LP now owns 26,174 shares of the company’s stock valued at $267,000 after acquiring an additional 1,174 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of Digital Asset Acquisition during the 4th quarter worth $869,000. Finally, DLD Asset Management LP boosted its holdings in shares of Digital Asset Acquisition by 79.7% during the fourth quarter. DLD Asset Management LP now owns 126,399 shares of the company’s stock worth $1,284,000 after purchasing an additional 56,046 shares during the last quarter.

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.