Truth Social, the social media platform founded by Donald Trump, is set to start trading on Tuesday. This marks a significant milestone for the platform, which has been making headlines since its inception.
The trading debut is expected to be a major event, with investors and analysts closely watching the performance of the company.
Truth Social has been gaining traction since its launch, with a growing user base and increasing popularity.
The company's stock is expected to be listed on the OTCQB, a marketplace for emerging growth companies.
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Truth Social Trading
Truth Social will start trading on Tuesday, with the company behind Donald Trump's social media app set to become a public company.
The company, Trump Media and Technology Group, will trade under the stock symbol DJT, short for Donald J. Trump.
Trading in Trump Media & Technology Group began on the Nasdaq Tuesday morning after last week's vote for a merger between Trump Media and special purpose acquisition company Digital World Acquisition Corporation.
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The company's market capitalization is approximately $2.7 billion.
Trump himself owns 58% of the shares in the company, placing his stake at more than $5 billion based on early trading Tuesday.
Trump can't sell or leverage his stake in the company for at least six months due to a lockup provision intended to prevent a rapid selloff that could shake investor confidence.
If you want to own a share of the company, you can do so for approximately $70.
Trump Media has a long road before it reaches profitability, according to a recent SEC filing, and most new social media companies face a low likelihood of success.
In the first nine months of 2023, Trump Media brought in less than $3.4 million in revenue while losing $49 million.
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Key Information
Donald Trump's Truth Social starts trading on Tuesday, and here's what you need to know:
The new company, Trump Media & Technology Group (TMTG), will trade on the Nasdaq under the ticker "DJT", which stands for the former president's initials.
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The merger with Digital World Acquisition Corp. (DWAC) was completed on Monday, after DWAC shareholders approved it on Friday.
Trump is the dominant shareholder of the new company, holding nearly 80 million shares that could be worth an estimated $4 billion as of Monday.
He will be required to hold those shares for a six-month lock-up period, but it's possible the requirement could be waived by the new company's board.
The new company's CEO will be former Congressman Devin Nunes, who previously served as CEO of TMTG.
Here are the key people involved in the new company:
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