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Former President Donald J. Trump's social media company, Truth Social, experienced a significant surge in its stock price on its first day of trading on the Nasdaq, leading to an estimated market value close to $8 billion. The company's shares skyrocketed, with Trump's on-paper net worth increasing as a result. Trump Media & Technology Group, the parent company of Truth Social, saw its shares rise more than 50% in the initial minutes of trading. The company's valuation neared $8 billion, surpassing companies like the New York Times and Mattel.
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
Truth Social is down again for the umpteenth time. But yeah, it’s worth billions even though nobody uses it exclusive from other platforms except Trump and a handful of QAnon freaks, and the advertisers sell Trump Bobbleheads and Collectable Trump Coins. https://t.co/7lYae8UmhT
"DJT stock hits turbulence: More volatility ahead for Trump's high-flying Truth Social." (via @USATODAYmoney) https://t.co/9MdmoGhPrf