Trump Media & Technology Stock Surges in Debut of Truth Social Ownership

DJT Takes to the NASDAQ: Inside Trump Media’s Public Debut

On Tuesday morning, shares of Trump Media & Technology Group, now merged with Digital World Acquisition Corp (DWAC), experienced a significant increase as they debuted under the new “DJT” ticker symbol. The merger process began in October 2021, with delays from Securities and Exchange Commission (SEC) investigations. Finally, DWAC shareholders approved the merger on Friday.

The merger process was delayed due to SEC investigations into whether DWAC misled investors on talks with Trump Media. However, the company has not made any changes to the merger terms, including a six-month lock-up period that prevents shares held by the former president and major stakeholders from being sold.

Former President Donald Trump holds approximately 80 million shares in the company, valued between $3 billion and $4 billion at the time of the merger announcement. The value is expected to increase significantly after the first day of trading on the Nasdaq.

Trump Media initially revealed plans to merge with blank check company DWAC in October 2021. Some have speculated that Trump Media’s decision to go public is aimed at improving Trump’s financial situation as he faces mounting legal fees and penalties. These costs may escalate as the presumed Republican presidential nominee continues to navigate other legal challenges.

Shares of Trump Media stock experienced a 38% increase to $69.10 by 11:20 a.m. ET on Tuesday, rising as much as 59% to $79.38 in the first half-hour of trading under its new ticker symbol “DJT.”

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