Trump Media and Technology Group Surges on First Day of Trading after Merger with Digital World Acquisition Corp.

On Tuesday, the newly formed Trump Media & Technology Group stock experienced a surge on its first day of trading following its merger with Digital World Acquisition Corp. The company, formed under the stock ticker “DJT,” representing former President Donald J. Trump’s initials, is attracting significant attention in the market after months of delays due to Securities and Exchange Commission investigations.

The announcement of DWAC shareholders’ approval on Friday led to a surge in DWAC’s stock on Monday, as plans were unveiled for the company to begin trading under the new “DJT” ticker on Tuesday. The momentum continued as markets opened on Tuesday for the combined company’s trading debut.

Trump Media stock saw a 38% increase to $69.10 by 11:20 a.m. ET on Tuesday, reaching a high of 59% at $79.38 in the first half hour of trading. With former President Donald Trump holding approximately 80 million shares valued between $3 billion and $4 billion at the time of the merger announcement last week, his stake is expected to significantly increase following the first day of trading on the Nasdaq.

The merger between Trump Media and Digital World Acquisition Corp was initially proposed in October 2021 but faced delays as regulators investigated potential misrepresentation of talks between DWAC and Trump Media prior to the public offering. Despite these challenges, no changes have been announced to