Donald Trump's Social Media Stock Surges 50% In Nasdaq Debut [Forbes]
Digital World Acquisition Corp. - Units (DWACU)
Company Research
Source: Forbes
Donald Trump's social media company began trading on the Nasdaq stock exchange Tuesday under the ... [+] ticker $DJT. Trump Media (ticker $DJT) shares jumped nearly 50% about 15 minutes after markets opened Tuesday, the firm's first day of trading as an independent public company following the completion of its reverse merger with the previously public, special-purpose acquisition company Digital World Acquisition Corp. Trading at $73 per share, Trump Media's market capitalization sits at some $15 billion on a fully diluted basis, pending the redemption of stock purchase agreements by existing Digital World shareholders. Trump, who owns more than half of Trump Media's stock, now has a roughly $9 billion nest egg from Trump Media, whose primary offering is the right-wing social media platform Truth Social. Trump can't sell his shares in his namesake company for six months, a period which will test whether the “meme stock” can maintain its multibillion-dollar valuation on the p
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