Former President Donald Trump’s newly merged social media venture is set to commence trading under the stock ticker symbol DJT on Tuesday.
This announcement comes following a regulatory filing by the firm.
The company, which includes the Truth Social app platform, will be listed on the NASDAQ market.
The formation of Trump Media & Technology Group Corp. is the outcome of a merger between Trump’s company and the shell company Digital World Acquisition Corp. (DWAC).
On Friday, a majority of DWAC shareholders voted in favor of the merger with TMTG.
The merger was finalized on Monday, as reported in a filing with the U.S. Securities and Exchange Commission.
Big losses
Monday’s news saw a surge in DWAC’s share price, climbing up to 25% higher, thus recovering from losses incurred on Friday after the merger’s approval.
Donald Trump, who is also the presumptive Republican presidential nominee, holds a minimum of 58% ownership in the company, valued at $3 billion or more based on Monday’s share price.
However, due to existing regulations, Trump is restricted from selling shares for the next six months.
Devin Nunes, the CEO of Trump Media, along with the current management team, will continue to lead the company.
Nunes expressed determination to pursue the company’s vision of reclaiming the internet from the censorship of big tech companies. He emphasized their commitment to providing a platform for free expression and resisting efforts to suppress speech.
