Trump’s social media company to start trading on the Nasdaq on Tuesday

Trump Media & Technology Group, whose flagship product is social networking site Truth Social, will begin trading on the Nasdaq stock market on Tuesday.

Shareholders of Digital World Acquisition Corp., a publicly traded shell company, approved a deal to merge with the Trump’s media business in a Friday vote.

Shares of Digital World have been volatile. On Friday the stock slumped 13.7% after the merger was approved. In afternoon trading Monday soared 22% to $45.40.

Former president Donald Trump is set to own most of the combined company — or nearly 79 million shares. Multiply that by Digital World’s closing stock price Friday of $36.94, and the total value of his stake could be nearly $3 billion.

<bsp-list-loadmore data-module="" class=«PageListStandardB» data-gtm-region=«related coverage» data-gtm-topic=«No Value» data-gtm-modulestyle=«List B»> <bsp-custom-headline custom-headline=«div»> related coverage </bsp-custom-headline> <bsp-custom-headline custom-headline=«div»> What is Truth Social, Donald Trump’s social media platform? </bsp-custom-headline> <bsp-custom-headline custom-headline=«div»> Court agrees to pause collection of Trump’s massive civil fraud judgment if he puts up $175M </bsp-custom-headline> <bsp-custom-headline custom-headline=«div»> Trump’s New York hush money case is set for trial April 15 </bsp-custom-headline> </bsp-list-loadmore>

Trump won’t be able to cash out his stake in the Palm Beach, Florida-based company immediately, unless the company’s board makes changes to a “lock-up” provision that prevents company insiders from selling newly issued shares for six months.

The former president was in New York Monday attending a hearing on his criminal hush money case. Elsewhere, a New York appeals court