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and the stock gained 7% that day.

https://www.cnbc.com/quotes/DJT

Initially in 2021 the stock traded as DWAC, Digital World Acquisition Corporation, nice name.

https://en.wikipedia.org/wiki/Digital_World_Acquisition_Corp.

"On October 20, 2021, DWAC and Trump Media & Technology Group (TMTG) announced that they had entered into a definitive merger agreement that would combine the two entities, allowing TMTG to become a publicly traded company. DWAC was created with the help of ARC Capital, a Shanghai-based firm specializing in listing Chinese companies on American stock markets that has been a target of U.S. Securities and Exchange Commission (SEC) investigations for misrepresenting shell corporations.[6][7][8] Some investors were surprised to learn that their investment money was being used to finance a Trump company.[9] In 2021, the DWAC Trump venture was linked with another company, China Yunhong Holdings, based in Wuhan, Hubei,[10][11] until its lead banker who was running the merger promised to sever ties with China in December 2021, stating that Yunhong was to "dissolve and liquidate".[12][13] In February 2022, Reuters reported that the connection between Shanghai-based ARC Capital and Digital World was more extensive than thought, with ARC having offered money to get the SPAC off the ground.[13]"