Trump's Truth Social platform soars in first day of trading on Nasdaq

daryls61

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Former President Donald Trump's Truth Social began trading under the ticker "DJT" on Tuesday, putting the real estate tycoon — and his initials — at the helm of a publicly traded company once again.

Shares of Trump Media & Technology Group soared in early morning trading on the Nasdaq exchange, rising more than $25, or roughly 50%, to $75.21 per share. Trump, who owns 58% of the newly public company, now has a stake valued at $5.4 billion — at least on paper.

Trump Media & Technology Group, whose main asset is the social media service Truth Social, has captured the attention of both critics and supporters, with some of the latter buying stock in the company to express their support for the former president. Truth Social booked just $3.3 million in revenue in the first nine months of 2023 and is losing money, according to regulatory filings.

 
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