Trump’s social media company soars nearly 50% in its first day of trading

Trump Media & Technology Group, whose flagship product is social networking site Truth Social, began trading on the Nasdaq stock market (AP Photo/John Minchillo, File)

Shares of Donald Trump’s social media company jumped nearly 50% in the first day of trading on the Nasdaq.

The value will be a boost for Mr Trump’s large holdings in the company as well as the smaller stakes of fans who purchased shares as a show of support for the former president.