Donald Trump’s name can be found on hotels, at golf resorts and even on NFT trading cards. Soon, it’ll be on the stock market, too.
The parent company of Truth Social, the social media platform the former president launched after getting booted from Facebook and Twitter after the Jan. 6 Capitol attack, is expected to start trading on the stock market on Tuesday, March 26.
The ticker symbol the new company plans to use? DJT, for Donald J. Trump.
Why is Truth Social’s stock symbol DJT?
This isn’t the first time Trump’s initials have been used as a stock symbol. The same ticker was used by Trump Hotels and Casino Resorts, the casino company that filed for bankruptcy and delisted from the New York Stock Exchange in 2004.
Bringing Trump’s initials back to the stock market could help boost investor interest, says Russell Jame, associate professor of finance at the University of Kentucky.
“That association is desirable for a certain subset of people,” Jame says.
Truth Social’s parent − Trump Media & Technology Group − is set to merge with Digital World Acquisition Corp., a special-purpose acquisition company, or SPAC. Also referred to as blank-check companies, these publicly traded shell companies exist to acquire or merge with private companies and begin selling their stock to the public.
The merger could boost Trump’s net worth by more than $3 billion, a major windfall as Trump faces massive penalties in court.
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