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ificandream

(9,410 posts) Tue Mar 26, 2024, 01:12 PM Mar 26

Trump's social media company soars nearly 50% in its first day of trading on Nasdaq [View all]

Source: Associated Press

Shares of Donald Trump’s social media company jumped nearly 50% in the first day of trading on the Nasdaq, boosting the value of Trump’s large holdings in the company as well as the smaller stakes of fans who purchased shares as a show of support for the former president.

Trump Media & Technology Group Corp. was acquired Monday by a blank-check company called Digital World Acquisition Corp. Trump Media, which runs the social media platform Truth Social, has now taken Digital World’s place on the Nasdaq stock exchange.

Before trading began, Trump Media had a market value of about $6.8 billion, a figure that will rise significantly if the early gains in the shares hold. The shares are trading under the ticker symbol “DJT.” Trump holds a nearly 60% ownership stake in the company. As of 9:55 a.m. ET, the shares were up 47% to $73.50.

The stock created such a frenzy that Nasdaq briefly halted its trading just two minutes after it began for the day.

Read more: https://apnews.com/article/trump-media-truth-social-nasdaq-stock-106d7c423174ca1d7cc3cc9a3f3897a0

41 replies

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Trump's social media company soars nearly 50% in its first day of trading on Nasdaq [View all] ificandream Mar 26 OP

Maybe the universe ain't "just" after all. 3Hotdogs Mar 26 #1

On paper. Lots of time for it to drop to reflect fundamentals before he can access it 6 months plus down the road. nt Bernardo de La Paz Mar 26 #13

Exactly. His shares aren't worth shit right now. n/t iluvtennis Mar 26 #26

But media sells by sensational headlines, where fact don't matter. . . . nt Bernardo de La Paz Mar 26 #28

I've read a little more on the lockup agreement and it also prohibits selling options. If that were not the case, Musk, 24601 Mar 27 #39

Thanks for that info about the options - good stuff. n/t iluvtennis Mar 27 #40

Classic pump and dump scheme. Watch it plummet once... kysrsoze Mar 26 #2

Yes it's just like those Digital Trading Cards that turned out to be worthless FakeNoose Mar 26 #33

Wonder if anyone here bought short on margin like they said they would? MichMan Mar 26 #3

Market watch says 135 M shares outstanding and 3.7 million are shorted Bernardo de La Paz Mar 26 #12

By now... appmanga Mar 26 #29

Money Laundering yankee87 Mar 26 #4

Sadly legal. jimfields33 Mar 26 #5

Not legal. Deutsche Bank paid about $640 million dollar fine 2017 for its role in stock trades that laundered. . . .nt Bernardo de La Paz Mar 26 #18

Oh wow. I thought foreigners could buy our stocks. jimfields33 Mar 26 #21

Hoards of short sellers... Think. Again. Mar 26 #6

I suspect brokers are snatching up shares now to sell to suckers before the price plunges. Martin68 Mar 26 #7

Brokers have not been needed to buy stocks since the 1980s. former9thward Mar 26 #20

Are you suggesting there are no stock brokers left? If not, why did you assume I'm unaware that stocks can be purchased Martin68 Mar 27 #36

Why would brokers "snatch up shares"? former9thward Mar 27 #38

The Stock Market is a Casino. bluestateboomer Mar 26 #8

So tell me; what do you think your pension fund is invested in? mahatmakanejeeves Mar 26 #10

Most IPOs like this go up IbogaProject Mar 26 #9

There is an asymmetry with IPOs IbogaProject Mar 26 #11

So, wonder if this is being pushed by 401 k consultants? bluestarone Mar 26 #14

This is not a good look for the stock market, when a worthless company can be worth so much. Mr. Sparkle Mar 26 #15

Can you imagine the price plummeting a month before he is allowed to sell louis-t Mar 26 #16

He does not need to petition any court. former9thward Mar 26 #19

True... berksdem Mar 26 #23

We've all seen the movie "Game Stop". We know how this ends... SKKY Mar 26 #17

Don't you mean the move called "Dumb Money?" (Sony Pictures) Pluvious Mar 26 #31

Billionaires deserve a good short squeeze to make them squeal IronLionZion Mar 26 #35

It's called "Pump and Dump" RainCaster Mar 26 #22

This won't last Picaro Mar 26 #24

Closed at $57.99, High was $79.38 Kennah Mar 26 #25

Which Trump proxys are moving behind the scenes? pfitz59 Mar 26 #27

DJT is a meme stock that relies on the greater fool/idiot theory LetMyPeopleVote Mar 26 #30

Reminds me of Al Bundy explaining to... Pluvious Mar 26 #32

I encourage MAGA patriots to buy the stock now, go all in, the retirement fund, college fund, bet the farm IronLionZion Mar 26 #34

In '77, I bought a Pet Rock for $4.19, and now it's worth a staggering Torchlight Mar 27 #37

Disgusting Rebl2 Mar 27 #41