The stock market performance of Trump Media & Technology Group (TMTG) after last week’s merger and public offering on the Nasdaq exchange surpassed expectations when it soared nearly 25 percent in value.
TMTG, which is the parent company of Truth Social, began trading on NASDAQ under the ticker symbol DJT on March 26 after merging with Digital World Acquisition Corp. (DWAC). On Monday, shares of DWAC closed at $49.95. By Thursday, TMTG was trading at $61.96, representing a rise of over 24 percent. The stock market remained closed on Friday due to Easter, The Epoch Times reported.
Former President Trump owns 78.75 million shares in TMTG, a company whose shares are currently valued at $61.96 each. This means that his stake in TMTG is worth approximately $4.87 billion, while the company’s total market capitalization is approximately $8.39 billion. As of March 30, President Trump’s net worth was estimated to be $7.48 billion, which puts him at the 350th spot among the world’s 500 richest individuals.
