Trump Media Becomes First Company to List on New NYSE Texas

Trump Media and Technology Group launched trading on the newly formed NYSE Texas, making it the exchange’s first listed company amid Texas’s rise in finance.

The New York Stock Exchange on Aug. 15, 2019. Johannes Eisele/AFP via Getty Images

Trump Media and Technology Group (TMTG), operator of Truth Social, on March 31 became the first company to list on the newly launched New York Stock Exchange (NYSE) Texas, marking the official opening of the first securities exchange to operate in Texas.

The Florida-based company, owned by President Donald Trump, will maintain its primary listing on the Nasdaq under the ticker “DJT,” but its shares will now also trade on NYSE Texas with the same symbol. Trump Media’s public warrants are listed under the ticker “DJTWW.”

“We’re honored to become the initial listing for NYSE Texas, which is a great fit for TMTG as we diversify into financial services and other realms,” TMTG CEO and Chairman Devin Nunes said in a statement. “Texas provides a fantastic climate for business and entrepreneurship that aligns with TMTG’s mission. This listing, alongside our plans to reincorporate in Florida, shows we’re part of a growing movement to take our business to states that value free enterprise and personal freedom.”

The exchange’s launch signals a strategic expansion by the NYSE, part of Intercontinental Exchange Inc., into a state that has increasingly drawn companies for its low regulatory burden and business-friendly environment.

Texas now ranks as the state with the largest number of companies listed on the NYSE, representing more than $3.7 trillion in market value.

“We are thrilled to open NYSE Texas to corporate issuers and to welcome Trump Media & Technology Group to our NYSE community through a NYSE Texas listing,” said Lynn Martin, president of NYSE Group. “This new offering, which we announced just last month, will allow companies to capitalize on the pro-business dynamics in Texas. We applaud Trump Media, Governor Abbott and the state of Texas on their commitment to supporting the innovation of U.S. capital markets.”

The NYSE stated that it will soon establish NYSE Texas’s headquarters in Dallas. The exchange is a reincorporation and rebranding of NYSE Chicago and offers a fully electronic equities platform for new listings.

Trump Media’s expansion into financial services includes the upcoming launch of TruthFi, a fintech platform focused on “America First” investment products. The company also operates Truth+, a streaming platform, in addition to its flagship social media service, Truth Social.

The launch of NYSE Texas comes as the state positions itself as a future financial hub. A second Texas-based exchange, the Texas Stock Exchange (TXSE), is also in the works and has already raised more than $160 million in early funding.

With both NYSE Texas and TXSE headquartered in Dallas, Texas is emerging as a competitive alternative to traditional financial centers such as New York.

Tom Ozimek contributed to this report.