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Donald Trump's media company, Trump Media & Technology Group, made a strong debut on the stock market, with its stock price surging. The company's valuation reached $9 billion despite generating only $3.3 million in revenue. Trump's net worth soared to $7.2 billion, surpassing figures like George Soros and Mark Cuban. The stock attracted meme-stock traders and Wall Street professionals, leading to high volatility and comparisons to other social media companies like Reddit and Meta.
The parent company of former President Trump’s Truth Social platform defied expectations in its first week on the stock market. Trump Media & Technology Group stock closed at roughly $62 per share after a whipsaw week of trading. https://t.co/1qciC94RNd
A CIO explains why newly minted meme stocks like Reddit and Trump Media are skyrocketing https://t.co/is5dO2aH5v
Donald Trump's social platform Truth Social trades at a slight premium to other social cos • Truth Social 1860.3x • @Reddit 9.8x • @Meta 9.2x • @Pinterest 7.7x • @Snap 4.1x • @tiktok_us 1.9x (parent: Bytedance) If this valuation holds up, Elon will be happy https://t.co/7hEx2YCdkh