Donald Trump's social media platform Truth Social made its Nasdaq debut on Tuesday.
Shares of Trump Media & Technology Group, Truth Social's parent company, were trading above $65 under the ticker symbol "DJT," Trump's initials, just around mid-morning.) in a deal approved by shareholders last week. Prior to the merger, DWAC had been on the public market since 2021.
Trump founded Truth Social 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.in Truth Social, or nearly 79 million shares. That translates to a valuation of more than $5 billion based on current trading levels.But Trump will have to wait before cashing in his shares.
According to the terms of the merger, stakeholders are subject to a six-month lockup period before selling or transferring shares. The only exception would be if the company's board votes to make a special dispensation. According to an SEC filing from Digital World, Trump Media lost $49 million in the first nine months of last year and brought in $3.4 million in revenue.— bets that the stock price will fall rather than rise — was about 11% of outstanding shares. To note, average short interest in public companies sits in the
Former President Donald Trump awaits the start of a pre-trial hearing with his defense team at Manhattan criminal, Monday, March 25, 2024, in New York. A judge will weigh on Monday when the former president will go on trial.
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