Former President Donald Trump’s media and technology company, Trump Media & Technology, is set to trade on the Nasdaq under the ticker symbol ‘DJT,’ using his initials. This news comes amidst anticipation that Trump’s business empire would face significant challenges, but instead, it turned into a highly successful day. CNN contributor and tech journalist Kara Swisher joins CNN’s Laura Coates to discuss the listing of Trump’s Truth Social. Shareholders of Digital World Acquisition Corp., a publicly traded shell company, approved a merger deal with Trump’s media business. However, analysts predict that Truth Social will not generate substantial profits for investors in the long run.
Background and Analysis
Former President Donald Trump, who owns stock shares valued at $3 billion or more in the newly merged social media company, is returning to the stock market. This move presents an opportunity for Trump to earn a significant payout. Despite the promising performance of Trump’s social media startup before its first trading session, skeptics argue that the company’s financials raise concerns. Trump’s Truth Social generated $3.4 million in revenue but incurred $49 million in losses over the past nine months. The Washington Post calls the Truth Social stock scheme another Trump con, expressing doubt about its long-term viability.
Summary:
- Trump Media & Technology will trade on the Nasdaq under the ticker symbol ‘DJT.’
- Kara Swisher discusses the listing of Donald Trump’s Truth Social on CNN.
- Shareholders of Digital World Acquisition Corp. approve a merger with Trump’s media business.
- Analysts predict that Truth Social will not be profitable for investors in the long run.
- Donald Trump owns stock shares worth over $3 billion in the newly merged company.
- Truth Social generated $3.4 million in revenue but incurred $49 million in losses.
- The Washington Post criticizes the Truth Social stock scheme as another Trump con.
Might interest you:
“Former President Donald Trump’s social media startup is rising ahead of its first session as a publicly traded company after acquiring Digital World Acquisition Corp.”
“As Donald Trump’s social media company, Trump Media & Technology, prepares to start trading on the Nasdaq, shareholders of Digital World Acquisition Corp., a publicly traded shell company, approved the deal for a merger with Trump’s media business.”
“Trump’s Truth Social will likely not provide significant profits for investors in the meme stock before the price eventually drops.”
“…Donald Trump’s social media startup is rising ahead of its first session as a publicly traded company…”
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