• Sat. May 18th, 2024

Trump-Backed Social Media Platform Soars on Stock Market Debut, Up 32% in Two Days

BySamantha Jones

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

On Monday, DJT completed a merger with Digital World Acquisition Corp. and began trading as a public company. Shares of DJT surged more than 16% on its market debut, and are up an additional 16% premarket. The company, which includes Trump’s social media platform Truth Social, saw a significant increase in value following the merger.

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 dedicated content writer at newszxcv.com, I bring a passion for storytelling and a keen eye for detail to every piece I create. With a background in journalism and a love for crafting engaging narratives, I strive to deliver informative and captivating content that resonates with our readers. Whether I'm covering breaking news or delving into in-depth features, my goal is to inform, entertain, and inspire through the power of words. Join me on this journey as we explore the ever-evolving world of news together.

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