Trump's Truth Social Media Company to Trade Under DJT Ticker, Boosting Supporters' Investments But Facing Legal Hurdles
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Donald Trump's new social media company, Truth Social, will trade on the stock market under the ticker symbol DJT, Trump's initials. This symbol was previously used by one of Trump's former casino companies.
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Truth Social is owned by Trump Media & Technology Group, which plans to merge with a special purpose acquisition company (SPAC) called Digital World Acquisition Corp. This could boost Trump's net worth significantly.
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The DJT ticker could help attract interest from investors who support Trump, though company profitability remains the main stock price driver.
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The merger could be finalized as soon as next week, but faces lawsuits trying to block it from former Digital World executives.
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Shares of Digital World are up over 110% this year, lifted by investments from Trump supporters, though the price dipped recently after shareholders approved the merger.