Trump Media Surges in Stock Price After Merger Approval: Newly Formed Company Trading Under DJT Ticker Symbol

Truth Social, owned by Trump Media & Technology, sees massive stock surge on debut

On Monday, the stock of Trump Media & Technology Group experienced a surge after it was approved by shareholders for its merger with Digital World Acquisition Corp. The newly formed company will be trading under the ticker “DJT,” which represents the initials of former President Donald J. Trump.

The announcement of the merger’s approval on Friday led to a 38% increase in DWAC’s stock price on Tuesday. Plans were unveiled for the company to begin trading under the new “DJT” ticker on Tuesday, and as markets opened, momentum continued with a surge in demand for shares. By 11:20 a.m., Trump Media stock had reached $69.10, up from its previous high of $79.38 in the first half hour of trading.

Former President Donald Trump holds approximately 80 million shares valued between $3 billion and $4 billion at the time of the merger announcement last week, and his stake is expected to significantly increase following the first day of trading on the Nasdaq. The merger between Trump Media and Digital World Acquisition Corp. was initially proposed in October 2021 but faced delays due to Securities and Exchange Commission investigations into potential misrepresentation of talks between DWAC and Trump Media prior to public offering. Despite these challenges, no changes have been announced to the merger terms, including a six-month lock-up period preventing major shareholders like ex-president from selling their shares.

Some observers see this move as an attempt by Trump Media to boost President Trump’s finances amid mounting legal fees and penalties that he faces due to his involvement in several ongoing legal battles, such as his impeachment trial and investigation into business practices as president and beyond. With potential legal challenges continuing to mount, this move may prove beneficial for him as he navigates future legal battles.

In conclusion, Trump Media & Technology Group has experienced a surge in stock prices following its merger with Digital World Acquisition Corp., attracting significant attention from investors in its first day of trading under DJT ticker symbol. With former President Donald J. Trump holding approximately 80 million shares valued between $3 billion and $4 billion at the time of the merger announcement last week, his stake is expected to significantly increase following its debut on Nasdaq exchange, providing him with a potential source of revenue amid mounting legal fees and penalties he faces due to ongoing legal battles involving him as ex-president.

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