June 21, 2024

DJT Soars to New Heights: 16% Gain in First Trading Day

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

On Monday, the Trump Media & Technology Group (DJT) completed its merger with Digital World Acquisition Corp., paving the way for its entry into the stock market. Following its debut, DJT saw a remarkable gain of over 16%, with shares continuing to rise by another 16% premarket.

The surge in stock prices came after Donald Trump’s social media company, Truth Social, experienced a massive 50% increase in value just minutes after becoming publicly traded on Tuesday. Developed after Trump was banned from mainstream platforms like Facebook and Twitter, Truth Social has remained a popular choice for many of his supporters. 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.

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