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

Shares of Trump Media & Technology Group, now merged with DWAC, experienced a significant increase on Tuesday morning as they debuted under the new “DJT” ticker symbol. The announcement of DWAC shareholders approving the merger on Friday led to a surge in DWAC’s stock on Monday.

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, represented by the former president’s initials in its new ticker symbol, experienced a 38% increase to $69.10 by 11:20 a.m. ET on Tuesday. The stock had risen as much as 59% to $79.38 in the first half-hour of trading.

The merger process began in October 2021, with delays from Securities and Exchange Commission (SEC) investigations. Finally, DWAC shareholders approved the merger on Friday which led to this surge in stock prices.

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

By Riley Johnson

As a content writer at newsmol.com, I dive into the depths of information to craft compelling stories that captivate and inform readers. With a keen eye for detail and a passion for storytelling, I strive to create engaging content that resonates with our audience. Whether it's breaking news, in-depth features, or thought-provoking opinion pieces, I am dedicated to delivering high-quality, informative content that keeps readers coming back for more. My goal is to bring a fresh perspective to every article I write and to make a meaningful impact through the power of words.

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