Trump Media stock skyrockets in first trading day on Nasdaq
Trump Media & Technology Group (DJT) — the parent company of Former President Donald Trump's Truth Social — is seeing intraday gains of over 40% in its first day of trading since premiering on the Nasdaq (^IXIC) Tuesday morning.
Yahoo Finance Live monitors Trump Media's soaring stock price ahead of Tuesday's closing bell, weighing in on the company's reported revenue.
For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Editor's note: This article was written by Luke Carberry Mogan.
Video Transcript
AKIKO FUJITA: Former President Trump's social media company Truth Social surging more than 30% in its first day of trading. Now, we're talking about more than 40% with about an hour left to go in the trading day here. DJT is the ticker symbol that we're looking at here. More than 6 and 1/2 million shares changing hands here by 9:50 this morning.
So certainly getting a lot of attention among investors. The SEC filing showing former President has roughly 70% share in the company. But worth reminding our viewers, Josh, company reported less than $3.5 million in revenue.
JOSH LIPTON: That's what's impressive. So it's a market valuation, Kiko. I last checked. It was around $2.5 billion, for a company that in the first nine months of last year reported around $3 million in revenue.
That's million, folks. Not billion. Million.
So I don't know. Maybe the bet here-- what do you think? Like, Trump wins. They take market share. Make a profit.
AKIKO FUJITA: That's the thinking. And in either way, it's going to be in focus, right, between now and November.
JOSH LIPTON: For sure.
AKIKO FUJITA: You know the former President is going to be taking to Truth Social to get his message out. So huge pop, at least, in the first day of DJT.
