One big one in the eye of the Trump knockers and TDS afflicted.
MarketsTrump Media Adds $1.1 Billion in Value Day After Debut
· FormerSPAC turned meme stock has soared 278% this year
· Gains bring Trump’s paper staketo more than $5 billion
DonaldTrump
Photographer: Anna Moneymaker/Getty Images
March 27,2024 at 9:36 PM GMT+8
Updatedon
March 28, 2024 at 5:41 AM GMT+8
Save
Former president Donald Trump’s Trump Media & Technology Group Corp. powered higher on Wednesday after a stellar debut, as investors use it as a way to bet on Trump’s 2024 re-election campaign.
Investors flocked back to the parent company of Truth Social, drivingshares up 14% after paring an earlier increase, and adding some $1.1 billion toits value. The move higher came after the stock jumped to a roughly two-yearpeak on Tuesday when the media startup traded for the first time as a publiccompany. The gains bring Trump’s personal stake to more than $5 billion, addingto the former president’s paper wealth.
Havea confidential tip for our reporters? Get in Touch
Before it’s here, it’s on the Bloomberg Terminal
More FromBloomberg
