Trump Media Stock Jumps as Much as 50 Percent, Halted for Volatility

Shares of former President Donald Trump’s social media and technology company jumped about 50 percent on Tuesday in its first day of trading on the Nasdaq before it was briefly halted for volatility.

After making its debut, shares for the Trump Media & Technology Group stock, called “DJT,” spiked 50 percent. But it was briefly halted because of the sharp rise before it had resumed trading at around 9:40 a.m. ET.

It’s not uncommon for the trading of highly-watched stocks to be suspended when the price increases or plunges too quickly.

Reports indicated that more than 6.5 million shares of the Trump stock were bought and sold by around 9:50 a.m. ET. And a report from Reuters found that the company is now worth about $10 billion after the surge on the Nasdaq.

At $72.63, the company’s market capitalization was $9.84 billion on an undiluted basis. The former president’s majority stake in TMTG was last valued at $5.72 billion, although lock-up restrictions for six months could prevent him from selling or borrowing against his shareholding.

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