• Wed. May 22nd, 2024

DJT’s Market Debut: Trump-Backed Social Media Platform Surges in Value

BySamantha Jones

Mar 27, 2024
Shares of Trump Media & Technology Group surge before the market opens, according to Investing.com

On its market debut, shares of Trump Media & Technology Group (DJT) surged more than 16%, and are currently up an additional 16% premarket. The company, which includes Trump’s social media platform Truth Social, saw a significant increase in value following its merger with Digital World Acquisition Corp. on Monday.

Trump’s decision to launch Truth Social came after being banned from mainstream platforms like Facebook and Twitter. Despite being reinstated on these platforms, Trump has remained loyal to Truth Social. As the majority shareholder in DJT, Trump holds approximately 78 million shares in the company.

The success of Truth Social and the positive response from investors have contributed to the rapid rise in DJT’s stock value. Trump’s presence in the company has helped bolster confidence in its future growth and potential for further success in the market. Following the completion of the merger on Monday, DJT saw a rapid increase in value, with the stock trading above $67 per share ahead of Wednesday’s opening.

By Samantha Jones

As a content writer at newsnnk.com, I weave words into captivating stories that inform and engage our readers. With a passion for storytelling and an eye for detail, I strive to deliver high-quality and engaging content that resonates with our audience. From breaking news to thought-provoking features, I am dedicated to providing informative and compelling articles that keep our readers informed and entertained. Join me on this journey as we explore the world through the power of words.

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