DJT: Trump Media shares soar more than 12% in afternoon trading

• The share price of Trump Media soared by more than 12% in afternoon trading.
• The DJT ticker was up more than $5 per share just before 1 p.m. ET.
• Trump Media owns the Truth Social app frequently used by the company's majority shareholder, former President Donald Trump.

The share price of Trump Media soared by more than 12% in afternoon trading Monday, continuing a stunning rise that began in mid-April.

The DJT ticker was up more than $5 per share just before 1 p.m. ET.

Trump Media owns the Truth Social app frequently used by the company's majority shareholder, former President Donald Trump.

The company began public trading on March 26 with a price of more than $70 per share. Over the next several weeks, share prices cratered, ending up with a low closing price of $22.80 on April 16.

Since then, Trump Media shares have more than doubled in price, adding billions of dollars to the company's market capitalization, and to the ex-president's stake.

Earlier Monday, Trump Media released updated information to shareholders advising them how to avoid having their stock shares loaned out for use by short sellers to bet the price drops.

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This is developing news. Check back for updates.