Updated March 26th, 2024 at 14:54 IST

Donald Trump's Truth Social to Commence Trading as DJT on Nasdaq

Trump previously employed "DJT" as the stock symbol for one of his hotel and casino ventures, which eventually faced bankruptcy and delisting.

Reported by: Sagar Kar
Donald Trump assets | Image:Reuters
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Donald Trump's much-anticipated social media venture, Truth Social, is set to debut on the Nasdaq exchange on Tuesday under the ticker symbol "DJT" following its merger with a blank-check company.

The move holds significant financial implications as Truth Social's listing could potentially lead to substantial gains for Trump, who possesses tens of millions of shares in the company. Presently, Trump's stake is valued at a staggering $3.9 billion, as per a report from Axios.

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Trump can't immediately sell his shares  

However, there are stipulations regarding Trump's ability to sell his shares. He is required to wait six months before offloading them, or seek special approval from the board for an earlier sale. Both options carry risks, as selling could precipitate a decline in the value of his remaining holdings.

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Trump previously employed "DJT" as the stock symbol for one of his hotel and casino ventures, which eventually faced bankruptcy and delisting.

Truth Social is expected to feature predominantly Trump-centric content, including campaign advertisements. The platform aims to provide a space for conservative voices and counter what many on the right perceive as bias on mainstream social media platforms.

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Here is what else you need to know

Analysts have outlined contrasting views regarding Truth Social's potential. Some speculate that fervent supporters of Trump's "Make America Great Again" (MAGA) movement may invest in the platform out of political loyalty, akin to the GameStop phenomenon. On the flip side, critics argue that Truth Social's business model lacks viability, with fewer users compared to established social media giants and losses surpassing revenue.

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As Truth Social prepares for its market debut, investors and observers alike are keenly watching to see how the platform fares in the competitive social media landscape and whether it can deliver on its promises of providing an alternative platform for conservative voices.

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Published March 26th, 2024 at 14:54 IST