Analysis of the DJT stock price following Truth Social’s debut on the stock market

Analysis of the DJT stock price following Truth Social’s debut on the stock market

Donald Trump’s social media platform is I’m negotiating now in stock exchange.

Truth Social’s parent company, Trump Media & Technology Group, went public Tuesday morning. under the ticker DJT, short for Donald J. Trump. The stock was trading at $70.74 as of 9:38 a.m. ET, up 41.6%.

The public listing was made possible through Trump Media’s merger with Digital World Acquisition, a special purpose acquisition company, or SPAC. Digital World shareholders voted in favor of the merger on Friday, and Trump Media took Digital World’s place on Nasdaq on Tuesday.

Analysis of the DJT stock price following Truth Social’s debut on the stock market

This photo illustration shows an image of former President Donald Trump reflected on a phone screen displaying the Truth Social app.

What is Trump’s net worth?

Truth Social’s IPO means a massive increase in Trump’s net worth, at least on paper.

Trump is not allowed to sell his shares or use them as collateral for a bond for the next six months. He would need approval from Trump Media’s board of directors to lift that restriction.

Trump was ordered to issue a $175 million bond while he calls upon the full $454 million civil judgment for fraud against him. He was also ordered to pay $83.3 million after defamation lawsuit » to advise columnist E. Jean Carroll.

Why is Truth Social’s ticker DJT?

Research shows that familiar names, such as the initials of a former president, can help a company’s stock performance.

A study carried out in 2006 by Princeton University Psychologists have found that stocks with tickers that are easier to pronounce tend to perform better during the first few days of trading. Another study of Pomona College In 2019, previous research confirmed that smart tickers tend to perform better, in part because they are more memorable to investors.

What is digital world acquisition?

Digital World is a SPAC, also known as a blank check company. These publicly traded shell companies exist to acquire or merge with private companies and take them public.

The merger of Truth Social with Digital World was first announced in 2021, When the number of companies going public via SPACs has increased. Investment vehicles have since faces criticism to be bad business for individual investors.

This is a developing story.

This article was originally published on USA TODAY: What is the Truth Social stock price? This is how much “DJT” is worth

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