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Former President Donald Trump’s newly merged social media company will begin trading under a ticker symbol DJT the company said in a new regulatory filing on Tuesday.
The company owns the Truth Social app platform, which will be called Trump Media Technology Group Inc.and will trade on the Nasdaq market.
TMTG is the result of a merger between the Trump Company and a shell company Digital World Acquisition Company
A majority of DWAC’s shareholders voted on Friday to approve the merger with TMTG. The collaboration was completed on Monday, according to a filing with the U.S. Securities and Exchange Commission.
DWAC shares soared as much as 25% on Monday’s news, recouping losses from Friday after the merger was approved.
Trump, the Republican presidential candidate, owns at least 58% of the company, a stake worth $3 billion or more based on Monday’s stock price. But under current rules, Trump is not allowed to sell shares for six months.
Trump Media will continue to be led by CEO Devin Nunes and his current management team, who ran the private company before it merged with publicly traded DWAC.
“As a public company, we will passionately pursue our vision to build a movement to take back the Internet from the clutches of Big Tech censorship,” Nunes said in a statement.
“We will continue to fulfill our promise to Americans to be a safe haven for free speech and stand up to the growing army of repressive speech.
Former DWAC CEO Eric Swider will become a director of Trump Media.
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