DWAC Epic Market On Close Volatility

Into the final minutes,
DWAC was trading at $39 a share at about 3:58pm. It then flushed to $36.69 by 3:59 only to reverse and close at $42.29 by 4pm. It hit a high of $59.39 before closing at $55.40 after hours. This is off of news that they have reached a fundraising target. With Jack gone and the recent distribution in names like
TWTR and
FB, is this a rotation into a competitor? Or is it a rotation from meme stocks such as
GME,
AMC,
CLOV,
BB, and
BBBY that have recently rolled over? Either way, this is nothing short of epic volatility.
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