Trump’s Truth Social sky­rock­ets on first trad­ing day in major boost to for­mer pres­i­dent

Trump’s Truth Social skyrockets on first trading day in major boost to former president

For­mer Pres­i­dent Don­ald Trump’s media com­pa­ny, Trump Media, rose sharply in price dur­ing its stock mar­ket debut.
On its first day, Trump Media, the par­ent com­pa­ny of Truth Social, was val­ued at rough­ly $8 bil­lion, greater than respect­ed com­pa­nies such as Mat­tel and West­ern Union. The for­mer pres­i­dent holds 60% of the stock in Trump Media, mak­ing him the pri­ma­ry ben­e­fi­cia­ry of the good mar­ket per­for­mance, the New York Times report­ed.

The stock price for Truth Social is shown at the Nas­daq build­ing Tues­day, March 26, 2024, in New York. (AP Photo/Frank Franklin II)

Accord­ing to the out­let, a fren­zy of inter­est in the company’s stock caused trad­ing to be briefly halt­ed due to extreme volatil­i­ty. How­ev­er, by the end of the first trad­ing day, Trump Media closed at $57.99, a gain of 16%.
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