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 . 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 — Benny Johnson (@bennyjohnson) The new company resulted from a merger of Trump Media and Technology with Digital World Acquisition Corp., as reported Friday. At 1 p.m. Tuesday, its stock was trading at . DWAC, the company’s previous Wall Street ticker symbol, which has been replaced by DJT, closed Monday at about $50 a share, according to . Trading in the new company’s shares Tuesday was so brisk that it was temporarily halted soon after the opening bell, according to . 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 — Vince Langman (@LangmanVince) Throwing
Donald Trump off of
Twitter and causing him to create TruthSocial and DWAC, was the dumbest freaking thing they could’ve done. — Brian Cates – Political Columnist & Pundit (@drawandstrike) 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) In addition to the inherent drama of anything related to Trump, considering he’s the and facing four criminal cases brought by
Democratic prosecutors, the DJT stock was closely watched because of he faces in New York. ( from posting a bond on Monday didn’t dilute the interest the case generated.) Trump himself owns about 60 percent of the company, according to . 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. We are committed to truth and accuracy in all of our journalism. For more A.F. Branco cartoons, go to WesternJournal.com/cartoons.