Trump’s Truth Social Rises 40% in First Day of Stock Trading
Summary from the AllSides News Team
Shares of former President Donald Trump’s social media company rose over 40% in its first day of trading on Tuesday.
The Details: Trump Media and Technology Group, the company behind Truth Social, was estimated to be worth about $9 billion by Tuesday afternoon, making the former president’s 58% share worth about $5 billion. Individual shares rose from $49.95 to as high as $79.38 but began dropping in the late afternoon. The company was listed on the Nasdaq stock exchange as “DJT” — not to be confused with the Dow Jones Transportation Average, also noted as DJT — after a Monday merger with Digital World Acquisition Corp.
For Context: Trump is facing a $175 million bond and a potential total $454 million judgement in the New York civil fraud case against him. Truth Social stock might help the former president cover that payment, but according to The Wall Street Journal (Center bias), large owners like Trump typically need board approval to sell shares so soon after a public offering.
How the Media Covered It: Coverage was widespread on Tuesday, often using words like “soared” and “surged” to describe DJT’s Tuesday morning price spike.
Featured Coverage of this Story
From the Center
Truth Social Stock Price Surges on First Day of Trading, Increasing Trump’s FortuneShares of Donald Trump’s social-media company surged about 30% on their first day of trading, boosting the presidential candidate’s fortune. The question is, how soon can he tap his roughly $5 billion stake in Truth Social?
That is up to the board of Truth Social’s parent company. The group includes his son, three former members of his administration and the former congressman who took a leading role in defending the former president in his first impeachment trial.
Truth Social’s parent company began trading Tuesday under the ticker DJT, Trump’s initials. Its shares soared after the opening...
From the Left
Trump's social media company surges in trading debut in a big boost to Trump's wealthTrump's social media venture soared as much as 59% in its trading debut on Tuesday delivering a potential windfall of billions of dollars to the former president's net worth.
Trading in Trump Media and Technology Group, the company behind the Truth Social app, was so frantic that it was briefly halted at one point. It's trading under the stock symbol DJT, or short for Donald J. Trump.
The surge in shares values a company that had just over $3 million in sales and lost nearly $50 million through the first...
From the Right
Trump’s Social-Media Company Stock Surges on First Day of TradingStock in Donald Trump’s social-media company surged in its Nasdaq debut on Tuesday, sending the former president’s on-paper net worth soaring.
The Trump Media & Technology Group, the owner of Truth Social, began trading under the stock ticker “DJT” Tuesday morning and increased by more than 30 percent by midday, up to nearly $70 per share. The company completed its $300 million merger with Digital World Acquisition Corp on Monday and TMTG replaced Digital World on the Nasdaq exchange.
Digital World is a SPAC corporation, a publicly traded shell company designed to be acquired...
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