Trump’s Truth Social rockets up stock market in first day of trading | WND [Video]

By Harold HutchisonDaily Caller News Foundation

The stock price of Truth Social’s parent company skyrocketed during the early hours of its first official day of trading Tuesday, with the price increasing by over 40%.

Shareholders of Digital World Acquisition Corporation (DWAC) voted to approve a merger with former President Donald Trump’s Trump Media and Technology Group (TMTG), the parent company of Truth Social, Friday, leading to Tuesday’s Wall Street debut. Trump received 79 million shares of stock worth over $3 billion, The Hill reported.

WATCH:

DWAC shares traded at $49.95 at Monday’s close, according to Yahoo Finance, while the new DJT symbol that replaced DWAC is trading at over $73 as of Tuesday morning, increasing the value of Trump’s holdings by over $1 billion. Trump could receive 40 million additional shares by the end of April based on the stock’s performance, New York Magazine reported.

Get the hottest, most important news stories on the Internet – delivered FREE to your inbox …