Trump social media stock skyrockets in first day of trading [Yahoo! Finance]
Digital World Acquisition Corp. - Units (DWACU)
Company Research
Source: Yahoo! Finance
Shares of Trump Media & Technology Group , the parent company of Truth Social, shot up more than 50% in its first minutes of trading. The quick move triggered a trading halt of five minutes, which exchanges use to put a check on volatile stock moves. Shares cooled slightly after trading resumed, but interest remained hot. It was up about 40% as of midday and was one of the most actively traded stocks on the Nasdaq exchange, according to CNBC data. Trump appeared to celebrate the stock's performance with a post on his platform late Tuesday morning. Shareholders in shell company Digital World Acquisition Corp., or DWAC, voted Friday to approve a merger with Trump's social media company. The long-expected deal effectively took Trump Media & Technology Group into the public market, allowing people to easily buy and sell its stock. DWAC's stock had been trading since September 2021. The stock, which now trades under the ticker DJT, is being closely watched in large part because it
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