Social Media Mogul Donald Trump’s Media Company Surges by Over 30% After IPO

By Eleanor Harrison Mar27,2024
Shares of Trump Media & Technology Group Surge Before Market Open According to Investing.com

On Tuesday, the stock of Trump Media & Technology Group (DJT) saw a remarkable gain of more than 16% following its market debut, with shares continuing to rise by another 16% premarket. This surge in stock prices comes after Donald Trump’s social media company experienced a massive 50% increase in value just minutes after becoming publicly traded on Tuesday.

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 company’s shares were priced at $57.99 by the close of Tuesday’s session, and as of Wednesday morning, they have surpassed the $67 per share mark.

Truth Social, Trump’s social media platform, was developed after he was banned from mainstream platforms like Facebook and Twitter. Despite being reinstated on those platforms, Trump has remained loyal to Truth Social. He is the majority shareholder of DJT, holding approximately 78 million shares in the company, according to recent filings.

By Eleanor Harrison

As a content writer at newseasoning.com, I infuse flavor into words, crafting compelling stories that captivate and inform our audience. With a keen eye for detail and a passion for creativity, I strive to create content that not only engages but also inspires. Whether I'm concocting a savory blog post or whipping up a spicy product description, I pour my heart and soul into every piece I write. Join me on this flavorful journey as we explore the tantalizing world of content creation together.

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