US EditionTrump's Truth Social platform soars in first day of trading on Nasdaq
- Trump's SPAC merger with DWAC is the highest profile ever, driven by his notoriety.
- Shareholders hope for growth with Truth Social app to turn a profit, possibly boosted by Trump's potential presidency.
- The success of the Trump Media deal hinges on the app's market expansion and Trump's political future.
185 Articles
185 Articles
How can Donald Trump’s lossmaking Truth Social be worth $8bn?
The rightwing social network’s flotation, supported by fans of the ex-president, make it a part of the ‘meme stock’ phenomenon• Business live – latest updatesDonald Trump’s social network went public on Tuesday and almost immediately hit a valuation of almost $8bn (£6.3bn). The valuation fell back to a more modest $6.58bn by the time markets closed in New York, but that still represented a gain of more than 15% on its initial public offering (IP…
Wall Street Bets On A Trump Dollar Rally Ignore 40 Years Of Data
(Bloomberg) -- Wall Street bets that a second Donald Trump presidency will set off a rally in the dollar run in the face of history, according to a working paper that analyzed almost 40 years of data. Pasquale Della Corte of London’s Imperial College Business School and Hsuan Fu at Quebec’s Universite Laval found there is a statistically significant relationship between exchange-rate returns and US presidential cycles. The study, which hasn’t be…
Stock market today: Wall Street opens higher following a 3-day lull
U.S. stocks are rising following a three-day lull. The S&P; 500 was 0.6% higher early Wednesday. It’s on track for its first gain since setting an all-time high last week. The Dow Jones Industrial Average was up 257 points, and the Nasdaq composite was up 0.3%. Shares of Trump Media & Technology Group continued their wild ride. The owner of the money-losing Truth Social platform founded by former president Donald Trump rose another 18%. Treasury…
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