Trump’s social media company to start trading on the Nasdaq on Tuesday WSOC TV [Video]

NEW YORK — (AP) — Trump Media & Technology Group, whose flagship product is social networking site Truth Social, will begin trading on the Nasdaq stock market on Tuesday.

Shareholders of Digital World Acquisition Corp., a publicly traded shell company, approved a deal to merge with the Trump’s media business in a Friday vote.

Shares of Digital World have been volatile. On Friday the stock slumped 13.7% after the merger was approved. On Monday, it soared 35.2% to $49.95.

Former President Donald Trump is set to own most of the combined company — or nearly 79 million shares, with a value of nearly $4 billion.

Trump won’t be able to cash out his stake in the Palm Beach, Florida-based company immediately, unless the company’s board makes changes to a “lock-up” provision that prevents company insiders from selling newly issued shares for six months.

The former president was in New York Monday attending a hearing on his criminal hush money case. Elsewhere, a New York …