Former President Donald Trump’s social media platform **Truth Social** has been the subject of intense and anticipated discussion. After years of struggle, it finally found its place in the stock market. In this article, we take an in-depth look at Truth Social’s journey, its research, and the implications of its public debut.
The way society works
Truth Social’s parent company **Trump Media & Technology** took a different approach to going public. Instead of a traditional initial public offering (IPO), it chose to "blank check" merge with a shell company called **Digital World Acquisition**. Shareholders of Digital World voted in favor of the merger, giving Trump’s social media venture access to the stock market.
Lackluster Launch and Shareholder Support
Truth Social has faced challenges since its lackluster design, which has led to limited sales of about $5 million as of 2021. However, loyal Trump supporters have rallied behind it, increasing participation in Digital World and have driven the stock up an impressive 145% since the beginning of the year to $6 billion.
Ticker Symbol: DJT
The newly formed company will trade on the stock market as **Trump Media & Technology Group**, using the ticker symbol **"DJT"**—Trump's initials. Ahead of the announcement, Digital World's stock price stood at $44, implying that the combined entity would debut with a value exceeding $5 billion.
Trump's Paper Fortune
Donald Trump's stake in the combined business comprises approximately **79 million shares**, translating to a paper fortune of about **$3 billion**. However, he won't be able to cash in immediately due to a six-month lock-up period for key shareholders after the merger.
Financial Crunch and Meme Stock Status
This move comes amidst a financial crunch for Trump, who aims to regain the presidency from Joe Biden in the upcoming elections. A New York judge recently ordered him to pay $454 million following a civil fraud case. His lawyers have deemed this payment a "practical impossibility" after 30 surety companies declined to cover it.
Digital World has also become a so-called **meme stock**, fueled by internet memes—some posted on platforms like Truth Social—encouraging retail investors to buy into it. Despite underlying fundamentals, the stock's rise has been remarkable.
Conclusion
The first public appearance of Truth Social is an important milestone in Trump’s media ambitions. As the platform makes its way to the stock market, its impact on politics and investor sentiment remains unclear. Time would tell if it would be a force to be reckoned with or fade into obscurity.