Trump Media Company Jumps 35.2%

It will trade under 'DJT' starting Tuesday
By Newser Editors and Wire Services
Posted Mar 25, 2024 3:38 PM CDT
DWAC Jumps 35.2% After Trump Media Merger
The download screen for the Truth Social app is seen on a laptop computer.   (AP Photo/John Minchillo)

US stocks drifted lower Monday at the start of what will be a shortened trading week.

  • The S&P 500 slipped 15.99 points, or 0.3%, to 5,218.19.
  • The Dow Jones Industrial Average fell 162.26 points, or 0.4%, to 39,313.64.
  • The Nasdaq composite fell 44.35 points, or 0.3%, to 16,384.47.
The market was cooling after last week's run, which sent all three indexes to records on Thursday. This week could be relatively quiet, with the headline report on US consumer spending and inflation coming Friday, the AP reports. US markets will be closed that day for Good Friday.

Wall Street is preparing for the return of a stock trading under the ticker symbol "DJT," the initials of Donald Trump, reports the AP. Trump Media and Technology Group, the company behind his Truth Social platform, completed its merger with Digital World Acquisition Corp. after Digital World's shareholders approved the deal on Friday. The company's stock jumped 35.2% in what's expected to be its last day trading under its ticker symbol of "DWAC." On Tuesday, it will begin trading under "DJT," which was used by Trump Hotels & Casino Resorts before it filed for Chapter 11 bankruptcy protection in 2004.

Boeing rose 1.4% Monday, trimming some of its sharp losses for the year.. Beset by worries about its safety and quality of manufacturing, the plane maker announced a shakeup to its management. Among the moves is the departure of its CEO, set for the end of the year. United Airlines was weighing on the market and lost 3.4%. Federal regulators are increasing their oversight of the company following several recent issues, including a piece of the outer fuselage falling off one jet and a plane losing a tire during takeoff.

(More stock market stories.)

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