Trump Media & Technology Group (NASDAQ: $DJT) Surges 45%+ on Tuesday After DJT Ticker Debut 

Trump Media & Technology Group Corp. (NASDAQ: $DJT)

Trump Media & Technology Group (NASDAQ: $DJT) is a media and technology company founded in 2021 by former U.S. President Donald Trump. Its flagship product is Truth Social, a social media platform launched in 2022 to provide an alternative to mainstream platforms. The company aims to fight against alleged censorship and bias by Big Tech corporations. 

On Tuesday, March 26, 2024, Trump Media & Technology Group (TMTG) made its public trading debut on the NASDAQ exchange under the’ DJT’ ticker, with shares soaring over 40% on the first day at one point. 

The company’s stock market debut comes after completing a merger with Digital World Acquisition Corp, a special purpose acquisition company (SPAC). Digital World shareholders voted to approve the $1.3 billion merger on Friday, paving the way for TMTG to take DWAC’s place on the public markets. 

Trump Media Leadership Team Transition

TMTG’s leadership remains intact, with CEO Devin Nunes and the current management team, who transitioned from a private company to a publicly traded entity. Former DWAC CEO Eric Swider joins Trump Media as a director, ensuring a smooth integration and continuity of vision. 

CEO Devin Nunes reaffirmed TMTG’s commitment to free speech, stating, “We built this company to protect the American people’s voices and their freedom.” This commitment underscores the company’s dedication to providing a digital space where diverse viewpoints can thrive. 

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Trump’s Net Worth Soars to $6.5 Billion 

Through the merger deal, Trump retained a roughly 60% stake in TMTG, holding nearly 79 million company shares. Following the merger, his net worth has received an almost $ billion boat, placing him firmly in the top 500 richest people list. Analysts caution that the current valuation may reflect enthusiasm among Trump supporters rather than a realistic assessment of the company’s prospects. 

However, Trump will be subject to a six-month lockup period during which he cannot sell or borrow against his TMTG shares unless the company’s board grants a special exemption. 

DJT Price Update 

Trump Media & Technology Group Corp. (DJT) stock is trading at $72.63 as of 12:47 PM, showing a significant increase of 45.40%. The shares traded in a wide range of$61.06 – $79.38. A few minutes to closing, the gains had shrunk to 20.04% at $59.96 per share as of 3:43 PM EDT, with a volume of 53,482,000 and an average volume of 3,904,008. 

Trump Media & Technology Group Corp. (DJT)
Trump Media (NASDAQ: $DJT)

Skepticism Mounts: Trump Media Risk Factors 

Despite optimism surrounding the Trump venture, many investors anticipate its failure. According to Ihor Dusaniwsky of S3 Partners, there’s a strong belief in a short-term stock price decline. The short positions in DJT stock reflect this sentiment, indicating a pessimistic outlook.  

However, the scarcity of available DJT shares for short trades makes betting against the stock prohibitively expensive. Despite this, short sellers persist, paying exorbitant rates, suggesting enduring skepticism about the company’s prospects. 

Furthermore, Trump’s legal battles and the potential need to sell shares to cover costs are also seen as risks that could trigger a sharp decline in TMTG’s share price. 

Potential Amid Skepticism 

Trump Media & Technology Group’s (TMTG) successful debut on the NASDAQ exchange, marked by the surge in its stock price, reflects initial investor optimism. The company appears poised for growth, with former President Donald Trump maintaining a significant stake and the leadership ensuring continuity. 

Despite skepticism and short-term concerns, DJT’s impressive market performance suggests potential for long-term value. Considering Trump’s stake and the platform’s potential, DJT presents a compelling buy opportunity for investors who are bullish on its trajectory. 

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