DJT, Donald John Trump, initials that are worth their weight in gold in the stock market today. Trump Media and Technology Group (TMTG), the former United States president’s media company, surged nearly 60% to $78.8 on the Nasdaq on its first day of trading in its new form, with the mnemonic code DJT. , by which the action can be quickly identified.
The shareholders of Digital World Acquisition Corp, a special purpose acquisition company (SPAC) or blank check company, an empty shell put on the market in 2021 with the intention of merging with an unlisted company, want to be listed expressly, authorized last week, after many twists and turns and over two years. After more procedures, Trump married the media.
The nonprofit TMTG owns Truth Social, the microblogging network founded by Donald Trump after it was banned from Twitter for encouraging its supporters to storm the Capitol.
Penalty for financial fraud reduced to 175 million
The man seeking a new term in the White House owns about 60% of the company, worth about $11 billion based on a price of $78.8 a share. So his share is currently over $6 billion.
The Republican candidate, convicted by New York State of financial fraud, could be tempted to use some of his billions in capital gains to pay for American justice. But financial rules bar him from reselling his shares during the six-month lock-up period.
Yesterday, Digital World Acquisition Corp surged 35% on the New York Stock Exchange after Donald Trump’s bail to the courts (which seeks to avoid running away after a fine if the appeals ruling is upheld) was cut from $454 million. $175 million.
The stock market life of the Trump media promises to be closely tied to the troubles of the former-and-maybe-future president of the United States and his chances of re-election in November.
