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Former President Donald Trump’s newly merged social media company will begin trading under the ticker symbol DJT on Tuesday, the company announced in a new regulatory filing.
The company, which owns the Truth Social application platform, will be called Trump Media & Technology Group Corp. and will be listed on the NASDAQ market.
TMTG is the result of a combination of Trump’s company and the shell company Digital World Acquisition Corp.
On Friday, a majority of DWAC shareholders voted in favor of the merger with TMTG. That combination was finalized Monday, according to a filing with the U.S. Securities and Exchange Commission.
DWAC’s stock price soared more than 30% Monday after an appeals court suspended for 10 days a civil judgment for business fraud against Trump and sharply reduced the appeal bond he will owe. pour to extend this break. The stock price rebound more than offset the sharp fall in DWAC shares Friday after the merger was approved.
Trump, who is the presumptive Republican presidential nominee, owns at least 58% of the company, a stake that is worth $3 billion or more at Monday’s stock price. But under current rules, Trump is barred from selling stocks for six months.
Trump Media will continue to be led by CEO Devin Nunes and his current management team, who led the privately held company before its merger with publicly traded company DWAC.
“As a public company, we will passionately pursue our vision of building a movement to reclaim the Internet from Big Tech censors,” Nunes said in a statement. “We will continue to uphold our commitment to Americans to serve as a safe haven for free speech and stand up to the ever-growing army of speech suppressors.”
Former DWAC CEO Eric Swider will become head of Trump Media.
cnbc
