Shares for the media venture headed by former President Donald Trump jumped by as much as 20 percent on the second day of trading on the Nasdaq, again lifting the former president’s fortune on March 27 and providing him a potential windfall as he grapples with the costs of several legal cases.
At one point this week, Trump Media & Technology Group, which trades under the DJT ticker, crossed $10 billion on an undiluted basis, a massive valuation for a company that reported an operating loss of $10.6 million for the first nine months of 2023 on revenue of just $3.4 million, according to Reuters. President Trump’s majority stake in TMTG was last valued at about $5.6 billion, according to Forbes, although lock-up restrictions for six months could prevent him from selling or borrowing against his shareholding.
