Trump's social media company soars 40% in its first day of trading on Nasdaq


Shares of Donald Trump's social media company jumped 40% in the first day of trading on the Nasdaq, boosting the value of the former president's large stake in the company in the process.

Trump Media & Technology Group runs the social media platform Truth Social.

Before trading began, Trump Media had a market value of about $6.8 billion, a figure that will rise significantly if the early gains in the shares hold.

The shares are trading under the ticker symbol "DJT." Trump holds a nearly 60% ownership stake in the company.