For the first time in over 30 years, a portion of Donald Trump’s corporate empire is going public.
Trump Media & Technology Group, the owner of Truth Social, is ready to begin its long-awaited voyage as a public corporation at Tuesday’s opening bell, using the ticker symbol “DJT.”
Trump’s Truth Social Stock Price
Trump Media will begin trading under the ticker symbol “DJT” with a stock price of around $50 and a market capitalization of roughly $6.8 billion. Rather than large institutional and experienced investors, many of Digital World’s investors were small-time investors wanting to support Trump or cash in on the hysteria. Those stockholders helped the stock more than quadruple this year in anticipation of the merger’s completion.
Source: PBS
They are investing on a company that has yet to generate a profit. Trump Media lost $49 million in the first nine months of last year, bringing in only $3.4 million in income and incurring $37.7 million in interest expenses.
In a recent regulatory filing, the firm mentioned the high failure rate for new social media platforms, as well as the company’s assumption that it will lose money on its operations “for the foreseeable future” as dangers for investors.
