Trump’s Social Media Company Surges 50% in Value on Market Debut

Shares of Trump Media & Technology Group Surge Before Market Open According to Investing.com

On Tuesday, Donald Trump’s social media company experienced a massive 50% increase in value just minutes after becoming publicly traded on the stock market. This surge in stock prices was followed by a remarkable gain of more than 16% for the Trump Media & Technology Group (DJT) on its market debut. By Wednesday morning, DJT shares had surpassed the $67 per share mark, continuing to rise by another 16% premarket.

The merger between Trump Media and Digital World Acquisition Corp. was finalized on Monday, paving the way for DJT to begin trading on the stock market. The merger was a strategic move that allowed DJT to tap into Digital World Acquisition Corp.’s resources and expertise. As a result, DJT has been able to develop and launch Truth Social, a social media platform developed specifically for conservatives and right-leaning individuals who were banned from mainstream platforms like Facebook and Twitter.

Trump is the majority shareholder of DJT, holding approximately 78 million shares in the company. He has remained loyal to Truth Social despite being reinstated on mainstream platforms like Facebook and Twitter. His commitment to his own platform has helped it gain traction among conservative users who are looking for an alternative to traditional social media platforms that they feel are biased against their views.

Leave a Reply