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Trump's social media company to start trading on the Nasdaq on Tuesday

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Trump Media & Technology Group, whose flagship product is social networking site Truth Social, will begin trading on the Nasdaq stock market on Tuesday.

FILE - The Truth Social account for former President Donald Trump is seen on a mobile device, Wednesday, March 20, 2024, in New York. Trump Media & Technology Group, whose flagship product is social networking site Truth Social, will begin trading on the Nasdaq stock market on Tuesday, March 26, 2024. The common stock of Trump Media & Technology Group will trade under the ticker symbol DJT.

Former president Donald Trump is set to own most of the combined company — or nearly 79 million shares. Multiply that by Digital World’s closing stock price Friday of $36.94, and the total value of his stake could be nearly $3 billion.the deal’s windfall immediately, unless the company’s board makes changes to a “lock-up” provision that prevents company insiders from selling newly issued shares for six months.Copyright 2024 The Associated Press. All rights reserved.

 

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Trump Media merger wins investor approval, netting Trump potential windfallTrump will own about 60 percent of the company, which at Digital World’s current share price would be worth about $3.3 billion.
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