Trump's social media company to start trading on Nasdaq on Tuesday

Shareholders of Digital World Acquisition Corp., a publicly traded shell company, approved a deal to merge with the Trump's media business in a Friday vote.

By AP | Updated: Mar 25, 2024, 10.02 PM IST

The Truth Social account for former President Donald Trump is seen on a mobile device in New York. Trump’s Truth Social looks set to hit Wall Street in a move that could give him stock worth billions of dollars on paper. But the former president likely can’t cash it out right away, unless some things change.

Trump Media & Technology Group, whose flagship product is social networking site Truth Social, will begin trading on the Nasdaq stock market on Tuesday.

Shareholders of Digital World Acquisition Corp., a publicly traded shell company, approved a deal to merge with the Trump's media business in a Friday vote.

The common stock of Trump Media & Technology Group will trade under the ticker symbol "DJT."

Former president Donald Trump is set to own most of the combined company - or nearly 79 million shares. Multiply that by Digital World's closing stock price Friday of $36.94, and the total value of his stake could be nearly $3 billion.

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