President Trump’s Media Empire Takes Flight: DJT Surges on First Day of Trading After Merger with Digital World Acquisition Corp.

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

The stock of Trump Media & Technology Group is seeing a surge on its first day of trading after merging with Digital World Acquisition Corp. The newly combined company, represented by the ticker “DJT,” is attracting significant attention in the market following months of delays due to Securities and Exchange Commission investigations.

On Monday, DWAC shareholders approved the merger, leading to a surge in DWAC’s stock price. On Tuesday, plans were unveiled for the company to begin trading under the new ticker “DJT.” 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.

The merger between Trump Media and Digital World Acquisition Corp. was initially proposed in October 2021 but faced delays as regulators investigated potential misrepresentation of talks between DWAC and Trump Media prior to the public offering. Despite these challenges, no changes have been announced to the merger terms, including a six-month lock-up period preventing major shareholders like the ex-president from selling their shares.

Some observers see Trump Media’s decision to go public as a means of boosting President Trump’s finances amidst mounting legal fees and penalties. With potential legal challenges continuing to mount, this move may prove beneficial for the former president as he navigates future legal battles.

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