Trump Media & Technology Group, the parent company of Trump’s Truth Social platform, went public Tuesday after a years-long effort to merge with a special purpose acquisition company (SPAC).
Shares of the company were up 46 percent shortly before 10:30 a.m. EDT Tuesday, rising to roughly $72 from an opening price of $49.95 after trading was briefly halted. By market close, Trump Media stock was trading at around $58.
Shareholders in the SPAC, Digital World Acquisition Corp., approved the merger Friday, teeing up the Truth Social parent’s debut on the stock market and potentially securing Trump a multibillion-dollar windfall.
Trump, who owns roughly 58 percent of Trump Media, joined Bloomberg’s list of the world’s 500 richest people Monday following the completion of the merger.
Read more in a full report at TheHill.com.
