DJT Stock Surges on First Day of Trading after Trump Media & Technology Group Merger with Digital World Acquisition Corp.

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

After months of delays, Trump Media & Technology Group stock is finally experiencing a surge on its first day of trading following its merger with Digital World Acquisition Corp. The newly combined company, formed under the stock ticker “DJT,” representing former President Donald J. Trump’s initials, is attracting significant attention in the market.

On Monday, the announcement of DWAC shareholders’ approval led to a surge in DWAC’s stock, as plans were unveiled for the company to begin trading under the new “DJT” ticker on Tuesday. Despite challenges such as regulatory investigations and potential legal challenges, this move may prove beneficial for the former president as he navigates future legal battles.

Trump Media stock saw a 38% increase to $69.10 by 11:20 a.m. ET on Tuesday, reaching a high of 59% at $79.38 in the first half hour of trading. With former President Donald 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 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 from selling their shares.

Some observers see this decision by Trump Media as an opportunity to boost President Trump’s finances amidst mounting legal fees and penalties while navigating future legal battles.

Overall, this merger represents an exciting new chapter for both companies and their investors as they embark on this journey together in the fast-paced world of technology and media.

Leave a Reply