How to buy DatChat (DATS) stock
DatChat has gained notoriety in recent months as a social media option for those seeking a platform that prioritizes data privacy and protection. Its use of blockchain technology makes this possible, and it has resonated with retail investors. With the Truth Social momentum helping push social media alternatives upward, they can expect to see its growth continue. Is it worth buying DATS stock when the company is still in its early stages of development?
How do I buy shares in DatChat?
Before buying a stock, you must first pick a brokerage, a financial company that has a license to buy and sell shares on your behalf. If you are a first-time investor, you need an account at an online brokerage with access to the NASDAQ Stock Market. DatChat trades on the NASDAQ under the ticker symbol DATS.
Is DatChat a good investment?
The DatChat Private Social Network gives you the freedom to talk without worry with self-destructing, screenshot protected, encrypted posts and messages. On Apple's iOS, DatChat can be integrated with iMessage for private conversations. However, DatChat's features are not unique. All can be found on other messaging apps, such as Dust, Sense Chat, and eChat, most of which have not been successful in attracting users.
Although web 3.0 and metaverse e-commerce should bode well for the stock in the long term, the company has yet to produce any meaningful revenue. DatChat's user base is tiny with a few thousand monthly active users and no actual revenue. With very limited monthly active users, it hasn't generated any revenue since its inception in 2014.
The concern over data sharing, data collection, and anonymity has led millions of users to apps such as DatChat, Signal, Telegram, Confide and other end-to-end encrypted messaging apps. However, messaging apps are useless if people don't know anyone else using the application. So people tend to use the apps already in use by their friends and family. As of August 2021, the DatChat messaging app had 22.5K users and is generating zero revenue.
Is DatChat stock a buy now?
DatChat's blockchain messaging ambitions seemed to generate some buzz among speculative investors who are interested in cryptocurrency and blockchain-related stocks. Its stock has skyrocketed over but dipped below its IPO price. Closing yesterday's trading session at $2.65, the stock is currently trading 85.7% below its $18.50 all-time high, which it hit on Sept. 29, 2021.
So, should you buy shares in DatChat right now? It depends on your appetite for risk, and be under no illusions about this. DatChat is a risky investment, but for those with an appetite for risk, it could be a winner.
