Trump Media Stock Surges 24 Percent in First Week of Trading

President Trump’s stake in the company is now valued at $4.87 billion, and owning the stock is perceived as lending support to the former president.

Republican presidential hopeful and former US President Donald Trump looks on, flanked by son Eric Trump (L) and daughter-in-law Lara Trump, during an Election Night Party in Nashua, N.H., on Jan. 23, 2024. Timothy Clary/AFP via Getty Images

The stock performance of Trump Media & Technology Group (TMTG) blew past expectations as shares surged by more than 24 percent in the company’s first week of trading after going public.

TMTG, the parent company of Truth Social, started trading under the ticker symbol DJT on NASDAQ starting March 26 after earlier merging with Digital World Acquisition Corp. (DWAC). Shares of DWAC traded at $49.95 on Monday’s close. By the end of the week on Thursday, TMTG was trading at $61.96, up by over 24 percent. The stock market remained closed on Friday due to Easter.