Trump Media Company Stock Price Skyrockets in First Day of Public Trading

By Joe Saunders March 26, 2024 at 10:02am

On its first day of trading, Truth Social was soaring on Wall Street.

The social media platform founded by former President Donald Trump, and trading under his initials, looked to be a hit with investors Tuesday, according to Yahoo Finance.

It was such a big hit, in fact, that trading was briefly suspended.

Truth Social’s parent company, Trump Media and Technology Group, trades on the Nasdaq under the ticker symbol “DJT” — initials familiar to anyone who’s followed American politics even casually since Trump, formerly known mainly as a billionaire real estate mogul and reality TV star, entered the political arena for keeps in 2015.

Donald Trump’s Truth Social is officially public and trading under the ticker $DJT pic.twitter.com/2wS8C64wFS

— Benny Johnson (@bennyjohnson) March 26, 2024

The new company resulted from a merger of Trump Media and Technology with Digital World Acquisition Corp., as The New York Times reported Friday.

At 1 p.m. Tuesday, its stock was trading at $72.73 a share.

DWAC, the company’s previous Wall Street ticker symbol, which has been replaced by DJT, closed Monday at about $50 a share, according to Yahoo Finance.

Trading in the new company’s shares Tuesday was so brisk that it was temporarily halted soon after the opening bell, according to AOL. When trading resumed, it started rising again.

Supporters of the former president trumpeted the news of the stock’s initial success:

Donald Trumps Truth Social has officially gone public! (DJT)
Let the liberal snowflakes meltdown commence pic.twitter.com/mQofCvjJY8

— Vince Langman (@LangmanVince) March 26, 2024

Throwing Donald Trump off of Twitter and causing him to create TruthSocial and DWAC, was the dumbest freaking thing they could’ve done. pic.twitter.com/JHd7qFIJaU

— Brian Cates – Political Columnist & Pundit (@drawandstrike) March 26, 2024

Donald Trump’s DWAC is now trading under the stock symbol: DJT & just hit $71 per share hahaha

Donald is making BILLIONS on taking truth social public & making liberal Karen’s scream

— Doug Osborne (@DougOsb70438101) March 26, 2024

In addition to the inherent drama of anything related to Trump, considering he’s the presumptive Republican presidential nominee and facing four criminal cases brought by Democratic prosecutors, the DJT stock was closely watched because of the civil judgment he faces in New York. (Trump’s reprieve from posting a bond on Monday didn’t dilute the interest the case generated.)

Would you consider buying Trump Media and Technology Group stock?

Trump himself owns about 60 percent of the company, according to USA Today.

The stock price was viewed by some observers through a political lens, rather than a judgment of the market about the stock’s ultimate financial future.

“This valuation may be more of a proxy on the enthusiasm of supporters for Trump than a reasonable estimate of underlying business prospects,” Thomas Hayes, chairman of Great Hill Capital, a New York hedge fund, told the Post.

Trump celebrated Truth Social in a Tuesday post on the platform.

“I LOVE TRUTH SOCIAL, I LOVE THE TRUTH!” he said.

A Note from Our Deputy Managing Editor:

I heard a chilling comment the other day: “We don’t even know if an election will be held in 2024.”

That wasn’t said by a conspiracy theorist or a doomsday prophet. No, former U.S. national security advisor Lt. Gen. Michael Flynn said that to the founder of The Western Journal, Floyd Brown.

Gen. Flynn’s warning means that the 2024 election is the most important election for every single living American. If we lose this one to the wealthy elites who hate us, hate God, and hate what America stands for, we can only assume that 248 years of American history and the values we hold dear to our hearts may soon vanish.

The end game is here, and as Benjamin Franklin said, “We must all hang together, or assuredly we shall all hang separately.”

All of this means that without you, it’s over. We have the platform, the journalists, and the experience to fight back hard, but Big Tech is strangling us through advertising blacklists, shadow bans, and algorithms. Did you know that we’ve been blacklisted by 90% of advertisers? Without direct support from you, our readers, we can’t continue the fight.

Can we count on your support? It may not seem like much, but a Western Journal Membership can make all the difference in the world because when you support us directly, you cut Big Tech out of the picture. They lose control.

A monthly Western Journal Membership costs less than one coffee and breakfast sandwich each month, and it gets you access to ALL of our content — news, commentary, and premium articles. You’ll experience a radically reduced number of ads, and most importantly you will be vitally supporting the fight for America’s soul in 2024.

We are literally counting on you because without our members, The Western Journal would cease to exist. Will you join us in the fight?

Sincerely,

Josh Manning

Deputy Managing Editor

The Western Journal

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2024 election, Businesses and companies, Donald Trump, Investing, Money, Politics, Social media, Stock market, U.S. News, Wall Street

Joe Saunders

Story Editor

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Joe has spent more than 30 years as a reporter, copy editor and metro desk editor in newsrooms in Pennsylvania, West Virginia and Florida. He's been with Liftable Media since 2015.

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Joe has spent more than 30 years as a reporter, copy editor and metro editor in newsrooms in Pennsylvania, West Virginia and Florida. He's been with Liftable Media since 2015. Largely a product of Catholic schools, who discovered Ayn Rand in college, Joe is a lifelong newspaperman who learned enough about the trade to be skeptical of every word ever written. He was also lucky enough to have a job that didn't need a printing press to do it.

Birthplace

Philadelphia

Nationality

American