Exiled from Twitter since October 2021, Donald Trump played the “Truth Social” card, his own social network. Since its takeoff in February 2022, more than 5 million followers have joined it. And it's not over: the listing of Truth Social's stock, DJT, is looming on the NASDAQ.
Trump Media & Technology Group Corp. : the new star of the stock market
Who would have thought that ex-POTUS, Donald Trump, would be so in the race, potentially face Joe Biden in the upcoming presidential elections ? Despite the Democrats' attacks, repeated trials and controversies, Trump seems to be rising from the ashes.
Beyond the obstacles, Trump even seduces cryptophiles : already the owner of thousands of ETH, collecting NFTs, he despises centralized bank digital currencies (MNBC) and promises not to get involved in Bitcoin (BTC) upon a possible return to the White House. A boon for fans of cryptocurrencies!
According to CNBCthe saga of former President Donald Trump's media empire takes an unexpected turn with the merger of his company with Digital World Acquisition Corp (DWAC). This union gives birth to Trump Media & Technology Group Corp.which will debut on the NASDAQ under the symbol DJT as of Tuesday, according to official documents.
After a favorable vote from DWAC shareholders, the merger was sealed, setting the stage for a tumultuous day of trading. Despite an initial drop in DWAC's stock following the merger announcement, a court ruling suspending civil judgment against Trump boosted stock price by more than 30%.
This stock market about-face more than offsets previous fluctuations and marks the start of a new era for Trump's media empire.
Trump's challenge to tech giants
As Donald Trump embarks on a new media adventure with Trump Media & Technology Group Corp., its majority stake in society has captivated attention, weighing more than 3 billion dollars. However, the rules of the game prevent him from selling shares for six months.
Trump Media remains under the leadership of veteran CEO Devin Nunes and his management team, already in place before the merger with DWAC. Their mission? Resisting Big Tech Censorship and providing sanctuary for free speech, a commitment emphasized by Nunes himself.
Eric Swider, former CEO of DWAC, takes the reins as head of Trump Media, ushering in a new era of taking on the powerful in Silicon Valley.
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