Close Navigation
Learn more about IBKR accounts

Trump Media’s Stock Rockets 19% In Premarket Ahead Of Nasdaq Debut: What’s Going On?

Posted March 26, 2024
Shanthi Rexaline
Benzinga

Shares of Trump Media & Technology Group Corp. surged in premarket trading on Tuesday, ahead of its anticipated public market debut.

TMTG is set to begin trading on the Nasdaq following its merger with Digital World Acquisition Corp., a special-purpose acquisition vehicle. The merger’s completion was announced via a press release on Monday. TMTG’s common stock and public warrants will be listed under the ticker symbols DJT and “DJTWW,” respectively, according to the companies.

The company will retain its leadership under TMTG’s CEO, Devin Nunes, and its current management team. Nunes expressed the company’s commitment to its vision in a statement, saying, “As a public company, we will passionately pursue our vision to build a movement to reclaim the Internet from Big Tech censors.”

However, skeptics question the valuation’s justification, particularly in light of Digital World’s significant rally this year. Jay Ritter, a finance professor at Florida’s Warrington College of Business, commented on the situation, stating, “This is a very unusual situation. The stock is pretty much divorced from fundamentals,” as reported by CNN. 

Additionally, the fortunes of Truth Social, a platform associated with TMTG, are closely linked to former President Donald Trump, who faces financial challenges amid legal fines and multiple lawsuits despite leading in the 2024 election race.

In premarket trading, the stock surged by 19.12% to $59.50.

Originally Posted March 26, 2024 – Trump Media’s Stock Rockets 19% In Premarket Ahead Of Nasdaq Debut: What’s Going On?

Join The Conversation

If you have a general question, it may already be covered in our FAQs. If you have an account-specific question or concern, please reach out to Client Services.

Leave a Reply

Your email address will not be published. Required fields are marked *

Disclosure: Benzinga

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Disclosure: Interactive Brokers

Information posted on IBKR Campus that is provided by third-parties does NOT constitute a recommendation that you should contract for the services of that third party. Third-party participants who contribute to IBKR Campus are independent of Interactive Brokers and Interactive Brokers does not make any representations or warranties concerning the services offered, their past or future performance, or the accuracy of the information provided by the third party. Past performance is no guarantee of future results.

This material is from Benzinga and is being posted with its permission. The views expressed in this material are solely those of the author and/or Benzinga and Interactive Brokers is not endorsing or recommending any investment or trading discussed in the material. This material is not and should not be construed as an offer to buy or sell any security. It should not be construed as research or investment advice or a recommendation to buy, sell or hold any security or commodity. This material does not and is not intended to take into account the particular financial conditions, investment objectives or requirements of individual customers. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.

IBKR Campus Newsletters

This website uses cookies to collect usage information in order to offer a better browsing experience. By browsing this site or by clicking on the "ACCEPT COOKIES" button you accept our Cookie Policy.