Trump Media & Technology Group Goes Public, Valuation Soars

Despite minimal revenue, Trump's media venture's stock surges on debut, fueled by loyal base and investor enthusiasm.

Donald Trump's media company, Trump Media & Technology Group, has finalized its deal to go public, with its valuation soaring to at least $5 billion, marking Trump's entry into the world's 500 wealthiest people.
The company began trading under the ticker symbol DJT, seeing a significant surge in its stock value, raising Trump's net worth to around $5.9 billion.
Despite generating less than $5 million in revenue in 2023 and facing losses, the valuation reflects the unwavering loyalty of Trump's core base and the potential for targeted advertising and strategic partnerships.
Legal and ethical concerns are raised regarding the merger and Trump's potential conflicts of interest, especially if he wins the presidency again, with fears that this could influence the social media landscape and regulatory bodies.
The company's success on its first day of trading reflects both support for Trump and investor enthusiasm, despite potential risks due to Trump's numerous legal proceedings and the control he wields as a majority shareholder.