Big Law

Trump Media Soars Nearly 40% in Its First Day of Trading on Nasdaq

Shares of Donald Trump’s social media company jumped nearly 40% in the first day of trading on the Nasdaq, boosting the value of Trump’s large holdings in the company as well as the smaller stakes of supporters 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 World’s 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 9:45 a.m. ET, the shares were up 39% to $69.52.

Read the source article at Associated Press

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