Trump Media Stock Gains 40% After Hours

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Post on Nov 06, 2024

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Trump Media Stock Soars 40% After Hours: What's the Buzz?

Hold onto your hats, folks! Trump Media & Technology Group (TMTG), the company behind the social media platform Truth Social, saw its stock price skyrocket by a whopping 40% in after-hours trading. This surge came after a wild day on Wall Street, with TMTG's stock already up 11% during regular trading. So, what's fueling this sudden frenzy?

The Big News: The jump in TMTG's stock price is likely linked to a recent SEC filing. The filing revealed that Digital World Acquisition Corp. (DWAC), a special purpose acquisition company (SPAC) that's set to merge with TMTG, secured an extension to finalize the deal. This extension gives DWAC more time to complete the merger, potentially paving the way for TMTG's stock to be listed on a major exchange.

What Does This Mean for TMTG? It's still early days, but this news could be a huge boost for TMTG. Getting listed on a major exchange would increase the stock's liquidity and make it easier for investors to buy and sell. This could lead to increased investor interest and, hopefully, more eyeballs on Truth Social.

But It's Not All Sunshine and Roses: Despite the excitement, it's important to remember that TMTG still faces several challenges. The company is still in its early stages, and Truth Social hasn't yet become a mainstream social media platform. Plus, the SEC is currently investigating the DWAC-TMTG merger.

The Bottom Line: The 40% after-hours surge in TMTG's stock price is a big deal. It shows that investors are still bullish on the company's future, despite the ongoing regulatory scrutiny. However, it's crucial to stay grounded and remember that this is still a long game. Only time will tell if TMTG can truly succeed in the crowded world of social media.