Trump Media stock rose on the second day of its market debut

Shares of Trump Media and Technology Group (DJT) rose 14% on Wednesday in their second day of trading on the Nasdaq (^IXIC).

Shares of the parent company of Donald Trump's social media platform Truth Social rose 16% on its first official day of trading on Tuesday. It has since become public to merge With special purpose acquisition company Digital World Acquisition Corp. In a deal approved by shareholders last week.

DJT's strong showing comes amid a rebound in meme stocks where some trades seen as lacking fundamentals have seen eye-popping returns.

According to a Securities and Exchange Commission filing from DWAC, Trump Media lost $49 million in the first nine months of last year and generated $3.4 million in revenue. At current levels, its market cap is now around $8 billion.

Other meme-friendly names like Reddit (RDDT) and GameStop (GME) have also seen massive rises in recent days while riskier assets like Bitcoin (BTC-USD) and commodities have soared since the start of the year.

Some names go back to the land. Reddit and GameStop fell by about 13% and 16%, respectively, in Wednesday trading.

Short interest in DJT stock — Bets that the stock price will fall rather than rise — amount to about 11% of shares outstanding, according to the latest data from S3 Partners. The average short interest in public companies falls at Range 3% to 4%.

Shares of Trump Media rose on the second day of its market debut.  (AP/Paul Sancia, Archivio)Shares of Trump Media rose on the second day of its market debut.  (AP/Paul Sancia, Archivio)

Shares of Trump Media rose on the second day of its market debut. (News agency)

The former president founded Truth Social after he was kicked off major social media apps like Facebook and Twitter, the platform now known as X, in the wake of the Capitol riots on January 6, 2021. Trump has since been reinstated on the platforms.

Trump will keep approx 60% share In Truth Social, a stake currently worth about $4 billion. The completion of the merger also comes as the former president faces a $454 million fraud penalty and is in trouble Deficit fundraiser As he prepares for a rematch in the 2024 elections against President Biden.

But Trump will have to wait before cashing in his shares.

Under the terms of the merger, stakeholders are subject to a six-month lock-in period before shares are sold or transferred. The only exception is if the company's board of directors votes to provide a special exemption.

Alexandra Canal He is a senior reporter at Yahoo Finance. Follow her on X @allie_canal, linkedin, And email it to [email protected].

Click here for the latest stock market news and in-depth analysis, including stock-moving events

Read the latest financial and business news from Yahoo Finance

Leave a Reply

Your email address will not be published. Required fields are marked *

indian nude girl mms verpornos.org desi gay videos
indian sxe hd redwap.sex porn vdo
xvidios pornpakistani.com desi free sex
hades hentai clipxhentai.com street fighter hentai
pamasahe watch teleseryehot.com pba rappler
xx justpornvideo.mobi lakshmi rai hot
marathi open sexy video tubeporncity.info tube 8 hindi
hentai love dolls hentaiparadize.org microne magazine 10
xnxx pakistan momporntrends.com xxxvom
deci xxx bigtitsporntrends.com indiyan x video
haryana sex.com mom2fuck.mobi www.sexy.com
anjelina hot erohardcore.info hindilink4uto
tales of the kama sutra: the perfumed garden fuckhindi.com kinkbomb
拘束男をひたすらヌキまくる逆レ●プ痴女 強制射精ザーメン10連発スペシャル 伊藤舞雪 javmovies.mobi 美雪ありす
hardcore sex videos download redpornvideos.net nangi hindi video