July 18, 2024

Donald Trump’s Truth Social stock price skyrocketed during its stock market debut, rising nearly 50% by Tuesday afternoon 3/26/2024

The parent company of Truth Social, Trump Media & Technology Group, went public Tuesday morning under the ticker DJT, short for Donald J. Trump. The stock was trading at $74.32 per share as of 1:57 p.m. ET, up more than $24.

The public listing was made possible by Trump Media’s merger with Digital World Acquisition, a special purpose acquisition company, or SPAC. Digital World’s shareholders voted in favor of the merger Friday, and Trump Media took Digital World’s place on the Nasdaq on Tuesday.

How much is Truth Social worth?
Before trading opened Tuesday, Truth Social’s parent company had a market value of about $6.8 billion. Because Trump owns about 79 million of the 135 million outstanding shares, his stake in the company was worth about $4 billion.

It’s a pricy valuation, especially for a company that has racked up tens of millions of dollars in losses since its 2021 launch and generated just over $3 million in revenue during the first nine months of 2023.