Former President Donald Trump's Truth Social began trading under the ticker "DJT" on Tuesday, putting the real estate tycoon — and his initials — at the helm of a publicly traded company once again. CBS News' Lilia Luciano has more.
The company recently attempted to fend off short sellers by advising investors on ways to prevent their shares from being loaned for short-interest positions.
Trump is entitled to an additional 36 million shares if the company's share price trades above $17.50 "for twenty out of any thirty trading days" over the next three years.
The precipitous fall of Trump Media, Truth Social's parent company, following a regulatory filing illustrates a cardinal rule in markets.
Former president Donald Trump's digital media company is losing money, and lots of it. First, as a recap: Trump Media and Technology Group (TMTG) recently merged with Digital World Acquisition Corp. in a SPAC, the ill-starred financial instrument that, more often than not, represents a last-ditch option for a substantial cash infusion. The company is on the NASDAQ as, predictably, $DJT.
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