Trading in former President Trump’s Trump Media & Technology Group, the parent of Truth Social, began on the Nasdaq Tuesday morning after last week’s merger vote.
For approximately $70, you can now own a share of the company behind former President Donald Trump’s Truth Social platform.
Trading in Trump Media & Technology Group — which uses the ticker symbol began on the Nasdaq Tuesday morning after last week’s vote for a merger between Trump Media and special purpose acquisition company Digital World Acquisition Corporation.
The company’s market capitalization is approximately $2.7 billion.
Trump himself owns 58 percent of the shares in the company, placing his stake at more than $5 billion based on early trading Tuesday.
«Truth Social is doing very well. It’s hot as a pistol and doing great,» Trump told reporters in New York on Monday.
Trump can’t sell or leverage his stake in the company for at least six months due to a lockup provision intended to prevent a rapid selloff that could shake investor confidence, but the company has already bolstered Trump’s net worth.
