Trump Media Climbs 16% to $7.9 Billion Post-SPAC Deal Valuation
- Trump Media & Technology Group operates Truth Social
- Deal provides a windfall on paper for the former president
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Former president Donald Trump’s social media startup gained 16% in its first trading day as a public company, after the most high-profile blank-check deal in years added billions to his fortune — at least on paper.
Shares of Trump Media & Technology Group Corp. rose as much as 59% before paring gains, closing at $57.99 each on Tuesday. The trading after the closing of the merger with Digital World Acquisition Corp. values the unprofitable company at $7.9 billion, capping an eye-popping meme stock run, and providing a potential windfall for Trump as he faces a mounting series of legal and financial woes.