Donald Trump's Truth Social makes waves in Nasdaq debut
New York, New York - Shares of Trump Media & Technology Group soared Tuesday in its debut on the Nasdaq, adding to the former president's expected windfall in the wake of legal problems.
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One day after completing its merger with the shell company, Digital World Acquisition, Trump Media was up 36.3% at $68.09 around 11:45 AM EST.
The stock, trading under the "DJT" ticker, which is the initials of the former president and current presidential candidate, rose almost 60% at its peak earlier Tuesday and was halted at one point because of volatility.
"I LOVE TRUTH SOCIAL, I LOVE THE TRUTH!" Trump posted on the social media network.
Trump launched Truth Social after he was kicked off mainstream platforms following the January 6 attack on the Capitol by a mob of Trump supporters.
Trump has nearly 80 million shares of the venture, worth more than $5 billion at current pricing.
The listing comes as Trump faces a huge bond payment after a New York court ruled that he, his sons, and their family business lied for years about the value of his assets.
Donald Trump's fraud trial bond payment slashed
On Monday, a New York appeals court cut the $454 million bond payment that had been due that day to $175 million and gave him 10 extra days to pay.
The nearly half-billion originally owed had raised the possibility that New York authorities would move to seize Trump's assets.
Trump said on Monday that he would post the $175 million "within the 10 days."
Cover photo: Collage: Michael M. Santiago / GETTY IMAGES NORTH AMERICA / Getty Images via AFP