2024-03-26 18:16:00
On Tuesday, shares of the Trump Media and Technology Group recorded an increase of more than 30 percent in its first trading under its new name “DJT” on the New York Stock Exchange after its merger, which enhances the gains of the former president, who is facing legal troubles.
The day after completing its merger with Digital World Acquisition, the shares of Trump Media and Technology Group rose by 36.3 percent to $68.09 at approximately 15.45 GMT.
The post-merger stock is trading under the name “DJT”, which are the initials of the name of the former president and current Republican candidate for the presidential elections scheduled for November 2024. It had reached a peak earlier on Tuesday, rising by about 60 percent, and trading in it was temporarily suspended due to… Turn it around.
Trump posted a comment on the Truth Social platform, saying, “I love Truth Social, I love Truth!”, referring to the platform owned by the Trump Media and Technology Group.
Trump launched the Truth Social platform after his accounts were banned on major platforms following the storming of Congressional headquarters by his supporters on January 6, 2021.
Trump owns about 80 million shares in the group, worth more than five billion dollars, according to current prices.
The trading of shares under the new name comes at a time when Trump is seeking to deposit a bail bond with the New York court that convicted him, two of his sons, and their family company of lying for years about the actual value of his assets.
On Monday, an appeals court reduced the value of the bail bond from $454 million to $175 million and gave him an additional ten days to complete the deposit.
The basic value of the bond before it was reduced raised the possibility that the authorities in New York might seize assets owned by Trump to guarantee the value of the bond.
On Monday, Trump said that he would deposit the $175 million “within ten days.”
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