Shares of Donald Trump’s company rose 50% on the first day of trading
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On the first day of stock trading, shares of Donald Trump’s company Trump Media & Technology Group, which owns a social network called Truth, have become more expensive by almost 50%. Placement of papers took place not in the form of a traditional initial public offering (IPO), but in a cheaper way – by merging with a public “dummy” company (Special purchase acquisition company, SPAC): these are created specifically for bringing large companies with real businesses to the stock exchange.
Shares of Trump Media & Technology Group under the symbol DJT (in honor of Trump’s full name – Donald John Trump) are traded on the NASDAQ exchange. The former US president owns about 58%. At current DJT prices, Trump’s stake in the company is valued at $5.4 billion.
Experts do not exclude that the launch of the Truth social network with a monthly audience of about 600 thousand users, which many reproach in the spread of far-right ideology and nationalismwill help Donald Trump improve his financial situation.
Let us remind youthat Donald Trump must provide bail in the amount of $464 million as part of a case for misrepresenting his net worth. If bail is not provided, interim measures in the form of confiscation of part of the property may be applied to Mr. Trump. In this regard, the media in the United States are actively discussing the possible bankruptcy of ex-President Donald Trump.
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