Trump's Truth Social stock jumps in first day of trade [Yahoo! Finance]
Digital World Acquisition Corp. - Units (DWACU)
Company Research
Source: Yahoo! Finance
Shares of Trump Media & Technology Group, Truth Social's parent company, were trading around $65 under the ticker symbol "DJT," Trump's initials, before the market open Tuesday. The company merged with special purpose vehicle Digital World Acquisition Corp. ( DWAC ) in a deal approved by shareholders last week. Prior to the merger, DWAC had been on the public market since 2021. Truth Social was founded by Trump after he was kicked off major social media apps like Facebook and, Twitter, the platform now known as X, following the Jan. 6 Capitol riots in 2021. He has since been reinstated on the platforms. Trump will maintain a roughly 60% stake in Truth Social, or nearly 79 million shares. That valuation could surge to more than $3 billion depending on trading levels. The merger comes as the former president faces a $454 million fraud penalty and grapples with a campaign fundraising shortfall as he gears up for a 2024 presidential rematch against current commander-in-chief Joe
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