Trump Media & Technology Group Surges on First Day of Trading Following Merger

Trump Media & Technology Stock Surges in Debut of Truth Social Ownership

The newly formed Trump Media & Technology Group stock experienced a significant increase on its first day of trading following the merger with Digital World Acquisition Corp. The company is now trading under the stock ticker “DJT,” representing former President Donald J. Trump’s initials. The merger process began in October 2021, with delays from Securities and Exchange Commission (SEC) investigations. Finally, DWAC shareholders approved the merger on Friday, leading to a surge in DWAC’s stock on Monday.

On Tuesday morning, shares of Trump Media & Technology Group saw a 38% increase to $69.10 by 11:20 a.m. ET after the announcement that DWAC shareholders approved the merger on Friday. The stock had risen as much as 59% to $79.38 in the first half-hour of trading.

Former President Donald Trump holds approximately 80 million shares in the company, valued between $3 billion and $4 billion at the time of the merger announcement. The value is expected to increase significantly after the first day of trading on the Nasdaq.

Trump Media initially revealed plans to merge with blank check company DWAC in October 2021, but regulatory investigations into whether DWAC misled investors on talks with Trump Media delayed the process. The company has not made any changes to the merger terms, including a six-month lock-up period that prevents shares held by the former president and major stakeholders from being sold.

Some have speculated that Trump Media’s decision to go public is aimed at improving Trump’s financial situation as he faces mounting legal fees and penalties from his various business ventures and political activities, including his ongoing legal challenges related to his role in inciting January 6th insurrection at Capitol Hill.

Overall, it seems that this merger will provide an avenue for Trump to raise additional funds while also benefiting from increased visibility and recognition through being publicly traded.

However, there are also potential risks associated with going public such as increased scrutiny and potential regulatory issues if there are concerns about financial reporting or other disclosures that need to be made.

Only time will tell how this new venture will unfold for both Trump Media & Technology Group and former President Donald J. Trump personally.

It’s worth noting that this article was written before any actual events took place so this information might not be entirely accurate anymore if anything has changed since then

Sophia Reynolds

As a content writer at newsloki.com, I'm always on the lookout for the next intriguing story to share with our audience. With a passion for crafting engaging and informative content, I delve into a variety of topics ranging from breaking news to feature pieces. My goal is to captivate readers through my words and keep them coming back for more. When I'm not typing away at my keyboard, you can find me exploring new coffee shops, diving into a good book, or taking long walks in nature. Join me on this journey of storytelling and discovery at newsloki.com - where every word has the power to inform and inspire.

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