On Tuesday morning, shares of Trump Media & Technology Group rose significantly after debuting under the new ticker symbol “DJT”. The merger process began in October 2021 and was delayed by regulatory investigations. However, on Friday, DVAC shareholders approved the merger and the company now trades under the ticker “DJT”.

The newly merged company, Trump Media & Technology Group, was up 38% at $69.10 at 11:20 a.m. ET on Tuesday. Shares rose as much as 59% to $79.38 in the first half hour of trading. Former President Donald Trump owns about 80 million shares in the company, worth between $3 billion and $4 billion at the time of the merger announcement. These shares are expected to rise significantly after the first day of trading on the Nasdaq.

Trump Media initially revealed plans to merge with blank check company DVAC in October 2021. However, regulatory investigations into whether DVAC misled investors in talks with Trump Media delayed the process. Despite this setback, Trump Media remained committed to going public and eventually agreed to merge with DVAC without changing the terms of their initial agreement. This includes a six-month lock-up period that prevents players from selling shares held by them during this period.

Some have speculated that Trump Media’s decision to go public is aimed at improving their financial situation as they face mounting legal fees and fines due to ongoing legal challenges facing former president Donald Trump. As such, it remains to be seen how successful this move will be for both companies involved in this merger deal.

In conclusion, shares of Trump Media & Technology Group rose on their first day of trading after merging with Digital World Acquisition Corp (DVAC). The newly formed company now trades under the ticker “DJT”, which represents former president Donald J. Trump’s initials. While some have questioned why President Trump would go public with his media venture given his legal challenges, it appears that he has made strategic decisions that could benefit both himself and his business interests moving forward.

By Samantha Johnson

As a dedicated content writer at newspuk.com, I immerse myself in the art of storytelling through words. With a keen eye for detail and a passion for crafting engaging narratives, I strive to captivate our audience with each piece I create. Whether I'm covering breaking news, delving into feature articles, or exploring thought-provoking editorials, my goal remains constant: to inform, entertain, and inspire through the power of writing. Join me on this journalistic journey as we navigate through the ever-evolving media landscape together.

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