Trump’s media company valued at nearly $10 billion as shares surge in Nasdaq debut

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A chairman of a private equity firm says the valuation of Trump's company, which owns social media platform Truth Social, reflects the enthusiasm of supporters rather than a reasonable estimate of underlying business prospects

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At $72.63, the company’s market capitalization was $9.84 billion on an undiluted basis. Trading in the shares under the ticker “DJT” was briefly halted for volatility just after the opening bell. Meanwhile, a pause to a ruling that would have blocked New York state authorities from seizing his assets bought Trump some financial breathing room as he tries to build a campaign war chest and keep his real-estate empire intact.

A Reddit user Chester-Ming posted “the hype has the potential to offset everything – shitty fundamentals, insane dilution and more”, on 15 million-large “wallstreetbets” investor forum, although the user warned that Trump could potentially cut his stake.

 

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