Former President Donald Trump’s social media company will officially begin trading publicly Tuesday, finally bringing the right-wing platform majority-owned by Trump to market at a gaudy multibillion-dollar valuation after more than two years of roadblocks.
Former President Donald Trump, center, speaks to reporters Monday.
Trump Media and its blank-check partner firm Digital World Acquisition Corp. announced Monday afternoon their business combination is complete.
The new entity will begin trading on the Nasdaq stock exchange Tuesday under the ticker symbol $DJT, a nod to the former president’s initials.
Trump will own between 58% and 69% of Trump Media when it officially goes public.
Digital World shares extended their Monday gain to about 25% to $46 following the announcement, sending the implied market value for Trump Media to between $5 billion and $7 billion, pending how many shares in the new entity existing Digital World shareholders redeem.
This is a breaking news story and will be updated…