Former US President Donald Trump's media company got off to a flying start on Tuesday, March 26, on the New York Stock Exchange, for its first day of trading under the initials DJT, those of the future Republican candidate for the presidency. presidential election.

DJT shares of the Trump Media and Technology Group (TMTG), which oversees social network Truth Social, were up more than 34% to $66.36 around 1555 GMT.

“I love Truth Social, I love the truth,” Donald Trump said on Tuesday on his network, created in 2022, hailing the success of shares on the Nasdaq.

Also read: Truth Social: Donald Trump's surprise financial lifeline?

Shortly after the opening of Wall Street, the trading of the highly demanded DJT title even had to be suspended for a few minutes before resuming.

On Friday, a general meeting of the shell company – also called SPAC – Digital World Acquisition Corp (DWAC), a listed vehicle intended to carry another company, voted in favor of a merger with TMTG, Trump's company.

Stake valued at more than $5 billion

Donald Trump is the main shareholder of TMTG, who will control tens of millions of shares in the new listed company. According to several estimates, its stake would be valued on paper at more than $5 billion, given the current price of the stock.

This IPO in any case offers a breath of fresh air to the finances of the ex-president pursued by the courts on several fronts.

Read alsoAssault on the Capitol, financial fraud... Donald Trump's legal problems

New York justice on Monday eased the financial pressure on the future presidential candidate by reducing his bail in civil proceedings to $175 million, but refused to further postpone his historic criminal trial, which will begin on July 15. april.

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Republican presidential candidate and former United States President Donald Trump attends the 2024 Senior Club Championship awards ceremony at Trump International Golf Club in West Palm Beach, Florida, United States, March 24, 2024. REUTERS - Marco Bello

With AFP

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