Trump’s social media company to trade on the Nasdaq Mar 26th

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Trump’s social media company to trade on the Nasdaq

– moneysense.ca

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

How much is Truth Social stock?

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. Shares of Digital World have been volatile. On Friday, the stock slumped 13.7% after the merger was approved. In afternoon trading Monday soared 22% to USD$45.40. (All figures in this article are in U.S. currency.)

Former U.S. 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.

Trump won’t be able to cash out his stake in the Palm Beach, Florida-based company immediately, unless the company’s board makes changes to a “lock-up” provision that prevents company insiders from selling newly issued shares for six months…

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