Donald Trump's social media company saw its share price surge by over 50% within minutes of commencing public trading under the ticker DJT on Tuesday morning.
Trading in Trump Media & Technology Group was briefly halted due to volatility as the stock price soared, before resuming around 9:40 a.m. ET. By 9:50 a.m., more than 6.5 million shares in Trump Media had been traded.
Trump Media's merger with the shell company Digital World Acquisition Corp. was finalized on Monday, facilitating its transition to public trading and contributing nearly $4 billion in paper profits to Donald Trump's net worth. As of Tuesday's opening bell, Trump Media's market valuation could reach $6 billion.
On its final day of trading Monday under the DWAC ticker, the company's shares surged by over 35%. This increase followed a decision by a New York appeals court to reduce the bond amount required for Trump to halt collection on a business fraud judgment while he pursues an appeal. The bond was reduced from $454 million to $175 million.
The company concluded trading on Monday with a closing price of just under $50 per share.
