Trump Media Stock Rises Again, Adding Billions to Former President’s Stake

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Trump Media Frenzied Trading 

The trading activity around TMTG is reminiscent of the mania seen with so-called meme stocks. Meme shares surge based on investor sentiment and momentum rather than traditional financial fundamentals. 

TMTG’s journey began with the plan to create a conservative media giant centered on Trump after he was banned from social media following the January 6 attack on the U.S. Capitol.

 In 2022, the company launched Truth Social, which Trump uses to communicate with supporters and critique opponents.

TMTG aimed to go public through a merger with a special purpose acquisition company (SPAC). After a rocky start, including an investigation by the Securities and Exchange Commission (SEC), TMTG merged with Digital World Acquisition Corporation and started trading on March 26, 2022.

Trump Media’s Market Presence

Despite its relatively small size in the social media landscape, Truth Social’s app has been downloaded 10 million times since its 2022 launch.