Trump Media & Technology Group shares jump premarket

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Trump Media & Technology Group shares jump premarket
Credit: © Reuters.

After a more than 16% gain on its market debut, shares of Trump Media & Technology Group (DJT) are up a further 16% premarket.

In fact, on Tuesday, Donald Trump's social media company jumped more than 50% only minutes after it began public trading.

The merger between Trump Media and shell company Digital World Acquisition Corp. was completed on Monday, allowing DJT to become publicly traded.

The stock closed Tuesday's session at $57.99, while ahead of the Wednesday open, it is above the $67 per share mark.

Trump's social media platform, Truth Social, was launched after he was kicked off mainstream platforms, including Facebook and Twitter.

While he has since been reinstated on those platforms, he has stuck with Truth Social. Trump is the majority shareholder in DJT, with filings showing Trump holds around 78 million shares in the company.

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