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Showing Original Post only (View all)Trump's social media company soars nearly 50% in its first day of trading on Nasdaq [View all]
Source: Associated Press
Shares of Donald Trumps social media company jumped nearly 50% in the first day of trading on the Nasdaq, boosting the value of Trumps large holdings in the company as well as the smaller stakes of fans who purchased shares as a show of support for the former president.
Trump Media & Technology Group Corp. was acquired Monday by a blank-check company called Digital World Acquisition Corp. Trump Media, which runs the social media platform Truth Social, has now taken Digital Worlds place on the Nasdaq stock exchange.
Before trading began, Trump Media had a market value of about $6.8 billion, a figure that will rise significantly if the early gains in the shares hold. The shares are trading under the ticker symbol DJT. Trump holds a nearly 60% ownership stake in the company. As of 9:55 a.m. ET, the shares were up 47% to $73.50.
The stock created such a frenzy that Nasdaq briefly halted its trading just two minutes after it began for the day.
Read more: https://apnews.com/article/trump-media-truth-social-nasdaq-stock-106d7c423174ca1d7cc3cc9a3f3897a0