Mar 26, 2024 - Politics & Policy

Trump's Truth Social to start trading as DJT

Illustration of a suit and tie with the tie made out of red digital dots with an arrow highlighted in the middle pointing upward

Illustration: Natalie Peeples/Axios

Donald Trump's social media company will begin trading Tuesday on the Nasdaq under ticker symbol "DJT" after its successful merger with a blank-check company.

Why it matters: Truth Social's listing could eventually become a financial windfall for Trump, who owns tens of millions of shares. His share is currently valued at $3.9 billion.

  • But Trump either must wait six months to sell or get special permission from the board to sell earlier. Either move is tricky because it could tank the value of his remaining holdings.

The big picture: Using Trump's initials is both appropriate and with precedent.

  • Truth Social is dominated by Trump and Trump-related content, including campaign ads.
  • Trump previously used "DJT" as the stock symbol for one of his hotel and casino companies, which filed for bankruptcy and was delisted.

The bull case: MAGA fans will buy and hold the shares out of political loyalty. Their own version of GameStop.

The bear case: It's a lousy business, with far fewer users than social media rivals and losses outpacing revenue. If this were being valued on the fundamentals, there wouldn't be much value.

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