Shares of of Trump Media & Technology Group, newly merged with Digital World Acquisition Corp. (DWAC), soared as they started trading under the🅠 new "DJT" ticker symbol Tuesday.

The companies announced that DWAC's shareholders approved the merger Friday, and DWAC's stock surged Monday after it 澳洲幸运5官方开奖结果体彩网:announced plans to debut under the new stock ticker Tuesday. That surg๊e continued onಌ Tuesday in the combined company's trading debut.

Trump Media stock, whose new ticker corresponds to the former president's initials, gained nearly 60% in the first half hour of trading, moving as high as $79.38. The stock came off those highs as trading progressed but still finished the session 16% higher at $57.99.

Trump owns about 80 million shares in the company, which was worth between $3 billion and $4 billion when the merger was announced last week. As of Tuesday's close, the stake was worth more than $4.6 billion.

Trump Media, the owner of the social network Truth Social, first announced plans to merge with 澳洲幸运5官方开奖结果体彩网:blank check company DWAC in Oct. 2021, but those plans were delayed while 澳洲幸运5官方开奖结果体彩网:regulators investigated whether DWAC misled investors on the talks it had 🤡with Trump Media before deciding to 🅘go public.

The company has not announced any changes to the merger terms, which currently prevent shares held by the ex-president and other major stakeholders from being sold until a six month 澳洲幸运5官方开奖结果体彩网:lock-up period has passed.

Some have viewed Trump Media's intentions to go public as an effort to boost Trump's finances as he faces hundreds of millions of dollars in growing legal fees and penalties, which could continue to grow as the presumptive Republican presidential nominee's other trials continue.

UPDATE: This article has been updated after publication with Tuesday's closing share price information.