Why Colorado Is Taking Trump Off The Ballot
The Colorado Supreme Court ruled on Tuesday that Donald Trump is ineligible to appear on Colorado's presidential primary ballot as they ruled his candidacy prohibited on constitutional grounds. "A majority of the court holds that President Trump is disqualified from holding the office of President under Section Three of the Fourteenth Amendment of the United States Constitution," the Colorado ruling said. "Because he is disqualified, it would be a wrongful act under the Election Code for the Colorado Secretary of State to list him as a candidate on the presidential primary ballot.”
What Is Section 3 Of The 14th Amendment?
“No person shall ... hold any office, civil or military, under the United States ... who, having previously taken an oath ... as an officer of the United States ... to support the Constitution of the United States, shall have engaged in insurrection or rebellion against the same, or given aid or comfort to the enemies thereof.” In early September several law firms and CREW filed a lawsuit requesting Trump be barred from the state's 2024 election ballots due to his role in the insurrection on January 6, 2021.
Could This Go Through?
Colorado's Supreme Court put this on hold until January 4 to allow for further appeals. This decision by the Supreme Court reversed the original ruling of a lower court that said Trump had indeed engaged in insurrection by inciting a riot on January 6, 2021, but that Presidents of the United States are not subject to Section 3 of the 14th Amendment due to not being an "officer of the United States." This has drawn debate as some believe that the President is included as an officer under The United States according to the history of the Amendments drafting. Trump has not been charged with "insurrection" in any criminal cases, however according to reports Section 3 of the Fourteenth Amendment doesn't require a criminal conviction. If the ruling stands, The Colorado Republican Party stated on X that they will withdraw from the primary system as a party and use the caucus system as their way of electing a candidate.
Trump's Reply
A spokesperson for Trump stated; “Unsurprisingly, the all-Democrat appointed Colorado Supreme Court has ruled against President Trump, supporting a Soros-funded, left-wing group’s scheme to interfere in an election on behalf of Crooked Joe Biden by removing President Trump’s name from the ballot and eliminating the rights of Colorado voters to vote for the candidate of their choice. We have full confidence that the U.S. Supreme Court will quickly rule in our favor and finally put an end to these unAmerican lawsuits." Trump's personal lawyer called the ruling an attack on "the very heart of this nation's democracy." Trump himself referred to it as "nonsense" and "election interference."
Trump's Supports Response
Advance Democracy, a nonpartisan, nonprofit organization reported an uptick in "violent rhetoric" in response to the ruling. They said some pro-Trump social media users posted Colorado justices' email addresses, phone numbers and addresses to the public. "This ends when we kill these f--kers," one user wrote on pro-Trump forum "The Donald". "What do you call 7 justices from the Colorado Supreme Court at the bottom of the ocean?" asked one user. "A good start."
16 Other States That Have Similar Legal Challenges To Donald Trump's Eligibility For Office
Colorado is not the only state looking to take Trump's name off of their ballots. Others include Alaska, Arizona, Maine, Michigan, Nevada, New Jersey, New York, New Mexico, Oregon, South Carolina, Texas, Vermont, Virginia, West Virginia, Wisconsin and Wyoming.
Vivek Ramaswamy And Nikki Haley Speak Up On The Ruling
Vivek Ramaswamy posted a video on X stating that he pledges to withdraw from the Colorado GOP primary ballot until Trump is allowed to be on the ballot. He demanded the Nikki Haley, Ron DeSantis, Chris Christie do the same. Nikki Haley stated in an interview; "The idea that judges are going to take it upon themselves to decide who can and can't be on the ballot is truly unthinkable ... I am going to defeat Donald Trump on my own. I don't need a judge to go take him off the ballot."
Donald Trump Vs. Taylor Swift?
In lighter news, Taylor Swift was awarded the Time Magazine "Person of the Year" for 2023. This award is for the "individual who shaped the headlines over the previous 12 months, for better or for worse." Both Trump and Taylor have been making headlines this year, for better or for worse, however Reed Cooper stated that "left-wing singer Taylor Swift" being awarded the Person of the Year for 2023 was a "massive mistake". Donald Trump went on to share the article posted by Reed, leading fans of Taylor Swift to believe that Trump agrees, which didn't sit well with the "Swifties". Neither Swift or Trump have yet to officially comment.
Stocks That Could Benefit From Good News Regarding The Ruling
Since this is a stock trading blog, it only makes sense to talk about a few stocks that tend to do well when there is positive news regarding Donald Trump.
Digital World Acquisition Corporation $DWAC
DWAC (Digital World Acquisition Corp.) is a Special Purpose Acquisition Company (SPAC) that was formed in 2021 with the intent of merging with a business in the technology or media sector. In October 2021, DWAC announced plans to merge with Trump Media & Technology Group (TMTG), the company behind Truth Social, a social media platform launched by former US President Donald Trump.
However, the proposed merger between DWAC and TMTG has faced several challenges:
Financial setbacks: In October 2023, DWAC was forced to return around $1 billion in funds to investors due to difficulties securing private investment commitments, jeopardizing the financial resources needed for the merger.
Investigations: Both DWAC and TMTG are under investigation by the US Securities and Exchange Commission (SEC) and the Department of Justice, raising concerns about potential regulatory hurdles.
Legal challenges: TMTG has faced lawsuits from various parties, including some of its own shareholders, raising further uncertainties about the merger's feasibility.
Therefore, the current affiliation between DWAC and Trump is uncertain. That all being said $DWAC is one of the top stocks that tends to move up when there is positive news regarding Donald Trump. Many investors still link $DWAC to Trump.
Phunware Inc $PHUN
There's a reason Benziga Pro flagged $PHUN as a Trump-sensitive stock. Phunware has worked with Trump in the past, to design the official app for his 2020 presidential campaign.
Fox Corp $FOX
Fox has hosted Trump in the past for interviews and calls several times during his last Presidential campaign and run. However the two parties haven't seemed to see eye to eye recently.
How Our Exclusive In-House Analysts Are Playing $DWAC
Our past blog posts had analysis on tickers $MCD, $M, $AMZN, $GOOGL and more by BTC_Jay. However he is visiting family for the holiday season, so today we have a special analysis of $DWAC done by our other exclusive analysts in the discord so that you see how they trade as well! This is a great example of seeing how everyone gets to 10 differently!! No two traders are the same!! That's why education is so important when it comes to trading!!
Trade Idea #1: PookiesRevenge
"None of those have good options chains, unfortunately. The charts are also all bearish for now, $FOX is the only one that has potential for a support hold but has a ways to go before it can get there. For a shorter-term swing, we can look at the $DWAC 2-hour timeframe (and daily) to see this impulse into a range. To trade this, we would want to see a break above $18.22, followed by a retest as support, and then a confirmation off of that level for a bullish push to $20 and above. On that same chart and timeframe, we can trade the inverse with a failure of $16.96, followed by a retest as resistance, and then a bearish confirmation to the downside to hunt the low of the impulse ($14.50 or below)." -PookiesRevenge
Option 1: Bullish Entry
Entry: Once A Break Above $18.22 Is Confirmed By A Retest
Target: $20+
Option 2: Bearish Entry
Entry: Once A Break Below $16.96 Is Confirmed By A Retest
Target: $14.50 and below
Trade Idea #2: Ethan
"$DWAC is down roughly 90% since its all time highs in October of 2021 of $175. DWAC, known for its short squeezes and the following of Donald Trump, could be a sleeping giant. From a technical standpoint DWAC is sitting in consolidation with key levels of resistance that could help cause a squeeze just above. Currently DWAC is at $17.50/share and the resistance levels $19 and $20 are just above.
If these levels get taken out and volume pours into the stock, we could see a solid run on this. Last squeeze we saw happen was at these same levels. In 1 day DWAC went from $16.7 to $25.85. Volume and or a catalyst would be the light to fuze for this name. You could trade equities, buying anywhere from $17-$18 a share, and using $16 as a stop loss and could target prices as high as $22-$55 a share.
On the options side of things You may want to trade the $20-$25 calls depending on what has the volume. Ideally a couple months out to buy you sometime. However, the options don't have a ton of volume, so getting filled could be an issue, and this also shows there may not be a ton of attention on it yet." -Ethan
Option 1: Bullish Equity Entry
Entry: $17-$18
Targets: $22-$55
Stop Loss: $16
Option 2: Bullish Options Contract Entry
Entry: $20-$25 CALLS depending on what has volume. Expiration a couple months out.
Risk: Options here don't have a ton of volume, getting filled could be an issue.
Trade Idea #3: SwingingBull
"Current Trend: consolidating in a range
Current Stock Price: $17.26
Support Levels: $17
Resistance Levels: $17.50
Notes: 4.46% institutionally owned, located in the United States, and low debt to asset ratio of only 20% which is great.
For a swing long, we could wait and enter above $17.50 resistance if buying pressure is still present, with a stop loss below $17 for risk management with price targets $18.40 and then $19.50+. For a short play, if price does not hold $17 and we see some weakness, then we can enter and short it down, with a stop loss above $17.50 for risk management, with price targets $16.30 and lower. I always have a max stop loss in mind before entering the play." -SwingingBull
Option 1: Bullish Entry
Entry: $17.50 if we see strong buying pressure at this level
Targets: $18.40 and $19.50+
Stop Loss: Below $17
Option 2: Bearish Entry
Entry: Break below $17 with continued weakness
Target: $16.30 and lower
Stop Loss: Above $17.50
Trade Idea #4: MrStockLockProfits
"If you're interested in exploring the impact of the recent ban on Trump Republican ballots in Colorado, consider taking a closer look at $DWAC. This stock is closely associated with the Trump organization. The key question we're pondering is whether the Colorado ban will lead to significant increases in trading volume for stocks aligned with Donald Trump. Let's dip a little deeper into the details of $DWAC and analyze its chart.
This company is dedicated to merging with, exchanging capital stock, acquiring assets, purchasing stock, reorganizing, or engaging in similar business combinations with one or more businesses. There have been persistent rumors connecting them to the "Truth Social" social media platform. The recent filing of an S-4 form amendment by DWAC indicates a significant step toward finalizing this merger.
- No Revenue income
- 37M outstanding shares
This is what was said in the filing below: We believe that today marks a monumental milestone toward completing the Business Combination, and we look forward to working with the SEC to bring this deal to a close as quickly as possible!
$DWAC trade idea: I'm considering initiating a bullish swing trade by taking a long position once we successfully surpass the nearby resistance at approximately $18.20. If we manage to close a daily candle above this level, I'll be inclined to engage in a short-term trade to the upside. I'll be sure to closely trail my stop for risk management." -MrStockLockProfits
Entry $18.20 daily candle close
Targets: $19.05, $19.60
Stop Loss: 5-10% max.
