Truth Social Stock: How to Buy Truth Social Media Stock?
Can You Buy Truth Social Stock? In this article, we will show you how to buy Truth Social Media Stock. Continue reading to learn how to invest in Truth Social.
How to Invest in Truth Social?
Can You Invest in Truth Social Media? Truth Social is currently public, and investors can purchase shares.
After soaring in its first public trading session, the media company associated with Donald Trump, Truth Social, became the most costly US stock to put money on.
Truth Media & Technology Group saw a 14% increase to $66.22 a share on March 24, 2024. The company is traded on the Nasdaq under the former president's initials, DJT.
That comes one day after the stock had its public debut via the SPAC merger and ended a tumultuous trading day that saw shares surge as much as 60%
Before learning how to invest in Truth Social, let's first examine what Truth Social is and who its owner is.
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What Is Truth Social?
What is Truth Social Media? Donald Trump is the founder of Truth Social, a social media platform, he expects will carve out a distinct place in the social media market.
He was permanently barred from Facebook and Twitter at the beginning of 2021.
Hence, he made a decision to create his own platform to
re-enter the digital world to keep connected with his supporters.
To
compete with the already-existing social media apps, the Trump Media Technology
Group (TMTG) introduced Truth Social in February 2022.
As the
"Big Tent" platform for America, Truth Social advocates for freedom
of expression, open discourse, and nondiscrimination based on political ideology.
More than 170,000 people downloaded the app on its first day after it was released on the Apple store.
Truth Social briefly held the top spot thanks to the hype.
As Donald Trump posted multiple comments after the start of the summer, the social networking app experienced growth on Apple's app store.
Additionally, he vowed that going forward, Truth Social would be his major social media channel.
Who Owns Truth Social Stock?
Who Owns Truth Social Media Stock? Trump Media Technology Group, a social media business established by former president Donald Trump, continues to be the owner and operator of Truth Social. Currently, Devin Nunes is in charge of the media company as CEO.
Through a
special purpose acquisition company (SPAC) called Digital World Acquisition
Corp., the former president has stated interest in turning Truth Social into a
publicly traded corporation (DWAC).
Before
forming a merger with the social media platform, Digital World Acquisition
Corp., a firm with a blank check, aims to generate money. Instead of going
public, Truth Social would merge with DWAC stock.
On March 25, 2024, Trump Media & Technology Group and Digital World Acquisition Corp. successfully concluded their business integration after many setbacks.
Patrick Orlando, a seasoned investor with experience in acquiring businesses, is the owner of Digital World Acquisition Corp.
Orlando is involved in DWAC as well as Benessere Investment Group, Maquia Capital, and other organizations. He holds degrees from MIT in management science and mechanical engineering.
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How Is Truth Social Doing?
How Is Truth Social Media Doing? On New Year's Eve, President Trump praised the success of Truth Social, saying that it was doing "unbelievably well" towards the end of 2022.
His
remark was in reaction to a piece from the DC Enquirer that stated that the New
York Times had reported in the fall of last year that the free speech platform
had expanded dramatically in the face of fierce competition.
Truth
Social is the subject of two federal investigations, according to the article's
subtitle in the New York Times, and its financial future is also dubious.
Still, though, it has outpaced its competitors.
While the
left-leaning news organization was compelled to acknowledge that supporters of
free speech have flocked to Trump's platform in droves, the president has
previously noted that the website has an advantage over rival social media
platforms on the international scene.
Truth
Social's unwavering commitment to free speech stands in stark contrast to
evidence of Twitter's pervasive coordination with federal authorities.
Elon
Musk, the CEO of Tesla and SpaceX, signed a deal to acquire Twitter in 2022,
and Trump acknowledged the change in management while praising the
effectiveness of the Truth Social interface.
Trump
stated in October that "TRUTH SOCIAL has kind of become a phenomenon. It
outperformed every other platform last week, including TikTok, Twitter,
Facebook, and the rest."
Elon
Musk, the new owner of Twitter, revealed alarming proof of federal agencies'
cooperation with the social media behemoth to block and stifle Donald Trump and
other dissenting political voices in a series of "Twitter Files" that
were made public in December.
The information revealed in the Twitter Files has shown how important Truth Social's commitment to free speech is.
The 45th president only puts information
on Trump's platform, which directs supporters of the America First movement and
other conservatives to Truth Social's website.
Trump stated to Fox News Digital in November 2022 that he intended to stick solely with Truth Social.
He said, "I'm staying on Truth." "I prefer it, I like how it functions, I like Elon, but I'm sticking with Truth," the speaker said.
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What happened to Google's Truth Social app?
After Google admitted the Truth Social app to its Play Store on Thursday, shares of Digital World Acquisition Corp., the business looking to float former president Donald Trump's media empire, surged in premarket trade.
The Play Store had previously
prohibited the platform due to issues with content control.
How to Buy Truth Social Stock
How to Buy Truth Social Media Stock? Truth Social's shares are currently public, and investors can purchase them.
The SPAC Digital World Acquisition Corp (NASDAQ: DWAC) merged with Truth Social and is open to investments.
DWAC shares changed over to Truth Social after the transaction. Truth Social has become a company with a stock that can be purchased and traded just like any other.
Truth Social Stock Symbol
Truth Social Media Stock Symbol = > Trump Media Technology Group (TMTG), the parent company of Truth Social, provided the stock symbol.
The ticker for DWAC was changed to DJT after it became public on the Nasdaq Stock Exchange.
At that
point, anyone desiring to purchase TMTG stock on the stock exchange can do so
using standard methods.
Truth Social Stock Ticker Symbol
Truth Social Media Stock Ticker Symbol => An acronym used to specifically identify publicly traded shares of a specific stock on a specific stock exchange is called a ticker symbol or stock symbol. With the stock ticker DJT, it began trading on the Nasdaq Stock Exchange.
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Truth Social Stock Price
Truth Social Media Stock Price => On Tuesday, March 25, 2024, Donald Trump had a sparkling debut on the Nasdaq stock exchange.
Shares of TMTG surged higher and higher until late in the trading day when a sharp drop brought Trump's Truth Social closer to reality.
At closing, the company's market value was close to $8 billion, which is comparable to that of Etsy and Lyft.
Before fading at the closing of trading to settle at $57.99, near their day's low, shares rose as high as $79.38.
Truth Social IPO
Truth Social Media IPO => After its IPO, the platform, now known as Trump Media & Technology Group (NASDAQ: DJT), garnered over 5 million active monthly users and brought in billions of dollars for Trump.
How much would Truth Social's IPO cost?
By the time the market closed on March 28, 2024, DJT shares had reached a worth of $62.
Thanks to its merger with
Trump Media & Technology, Digital World Acquisition Group (NASDAQ: DJT)
now allows stock purchases.
Any
well-known brokerage, such as Robinhood, Fidelity, Moomoo, Vanguard, WeBull, Stash, Public, TD
Ameritrade, and others, allows you to buy DJT.
Truth Social Stock Market Value
Since Truth Social is a publicly listed social media network, it is impossible to estimate the price of a single share.
IPO opening price of other social media companies
Facebook
(Meta)
- Previous 52-Week High: $384.33
- Opening Price of Stock: $38.00
Twitter
- Previous 52-Week High: $80.75
- Opening Price of Stock: $26.00
Alphabet,
Inc.
- Previous 52-Week High: $2,936.41
- Opening Price of Stock: $85.00
Pinterest
- Previous 52-Week High: $89.90
- Opening Price of Stock: $19.00
Bumble
- Previous 52-Week High: $84.80
- Opening Price of Stock: $43.00
Snap,
Inc.
- Previous 52-Week High: $83.34
- Opening Price of Stock: $17.00
Should I Invest in Truth Social?
Is Truth Social a Good Investment?
Since it debuted earlier this year, the Truth Social platform has attracted a lot of attention.
After its release, the app soon gained the title of most downloaded,
and despite a few setbacks, it has managed to retain a few million customers.
More people might tune in to hear what Donald Trump has to say now that he seems to use his own app more frequently.
Many believe that other social media platforms fail to declare themselves a safe haven for free speech, but it does so.
The business anticipates 81 million users and $13.50 in income per person over the next three years.
The possibilities for Truth Social could be endless if everything goes according to plan.