Truth Social Spinoff — DJT Stock Rises As Trump Media Explores Public Listing Deal For The Platform
Synopsis
Trump Media added that the shares of Truth Social would be distributed to its shareholders of record prior to the closing of the merger with TAE.
Trump Media & Technology Group Corp. (DJT) on Friday announced that it is currently undertaking discussions with TAE Technology Inc. and Texas Ventures Acquisition III Corp. (TVA) to spin off its social media platform, Truth Social.
The company stated that discussions are ongoing to consider spinning off the platform into a new publicly-traded company. Trump Media added that the shares of Truth Social would be distributed to its shareholders of record prior to the closing of the merger with TAE. Thereafter, the social media platform would be merged with Texas Ventures III, the company said.
Trump Media shares were up nearly 2% in Friday’s pre-market trade. Retail sentiment on Stocktwits around the company trended in the ‘neutral’ territory, with message volumes at ‘high’ levels.
Get updates to this developing story directly on Stocktwits.<
For updates and corrections, email newsroom[at]stocktwits[dot]com.<
Stay updated with all the latest Business News, including market trends, Share Market News, stock updates, taxation, IPOs, banking, finance, real estate, savings, and investments. Track daily Gold Price changes, updates on DA Hike, and the latest developments on the 8th Pay Commission. Get in-depth analysis, expert opinions, and real-time updates to make informed financial decisions. Download the Asianet News Official App from the Android Play Store and iPhone App Store to stay ahead in business.