Trumps social media company soars in its first day of trading on Nasdaq | KLRT [Video]

NEW YORK (AP) — Shares of Donald Trump’s social media company jumped more than 30% in the first day of trading on the Nasdaq, boosting the value of Trump’s large holdings in the company as well as the smaller stakes of fans who purchased shares as a show of support for the former president.

Trump Media & Technology Group Corp. merged Monday with a blank-check compan y called Digital World Acquisition Corp. Trump Media, which runs the social media platform Truth Social, has now taken Digital World’s place on the Nasdaq stock exchange.

Before trading began, Trump Media had a market value of about $6.8 billion, a figure that will rise significantly if the gains in the shares hold. The shares are trading under the ticker symbol “DJT.” Trump holds a nearly 60% ownership stake in the company. As of 12:00 p.m. ET, the shares were up 34% to $67.

…