• Sun. May 26th, 2024

DWAC, DTRUMP: A Merger and a Quest for Financial Freedom: The Inside Scoop

BySamantha Nguyen

Mar 27, 2024
Trump Media & Technology Stock Surges in Debut of Truth Social Ownership

On Tuesday, shares of Trump Media & Technology Group, now merged with Digital World Acquisition Corp, saw a significant increase as they debuted under the new “DJT” ticker symbol. The announcement that DWAC shareholders had approved the merger on Friday led to a surge in DWAC’s stock on Monday.

Trump Media stock, represented by the former president’s initials in its new ticker symbol, experienced a 38% increase to $69.10 by 11:20 a.m. ET on Tuesday. The stock had risen as much as 59% to $79.38 in the first half-hour of trading.

Former President Donald Trump holds approximately 80 million shares in the company, valued between $3 billion and $4 billion at the time of the merger announcement. The value is expected to increase significantly after the first day of trading on the Nasdaq.

The merger process began in October 2021 with delays from Securities and Exchange Commission (SEC) investigations into whether DWAC misled investors on talks with Trump Media. Regulatory investigations have been ongoing since then and it is not clear if they will continue after the merger has been completed successfully.

Some have speculated that Trump Media’s decision to go public is aimed at improving Trump’s financial situation as he faces mounting legal fees and penalties. These costs may escalate as the presumed Republican presidential nominee continues to navigate other legal challenges such as his impeachment trial and ongoing investigations into his businesses and personal finances

By Samantha Nguyen

As a content writer at newsqwe.com, I am passionate about crafting engaging and informative articles that captivate our audience. With a background in journalism and a keen eye for detail, I strive to deliver content that is not only well-researched but also adds value to our readers' lives. From breaking news stories to in-depth features, I take pride in my ability to tell compelling stories that resonate with our diverse audience. When I'm not typing away at my keyboard, you can find me exploring new cafes, practicing yoga, or getting lost in a good book. I am thrilled to be a part of the newsqwe.com team and look forward to sharing my love for writing with all of our readers.

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