Shareholders of Digital World Acquisition Corp., a publicly traded shell company, recently approved a merger deal with Trump's media business in a Friday vote.

The news of the merger resulted in considerable volatility for Digital World's shares. On Friday, following the approval, the stock plunged by 13.7%. However, in Monday's afternoon trading, it made an impressive recovery, surging by 22% to reach $45.40.

As the merger progresses, former President Donald Trump is expected to become the majority owner of the combined company, holding nearly 79 million shares. Considering Digital World's closing stock price on Friday at $36.94, his stake could be valued at almost $3 billion.

Truth Social, launched in February 2022, emerged as a platform for Trump after being banned from major social platforms such as Facebook and Twitter following the January 6 Capitol insurrection. Although he has since been reinstated on these platforms, Trump has remained loyal to Truth Social, even promoting it on the site itself. One of his recent posts stated, "I love Truth Social."

Trump Media has not yet disclosed the exact number of Truth Social's active users. However, with the company now publicly traded, more information is expected to be revealed. Research firm Similarweb has estimated that the platform had approximately 5 million active mobile and web users in February. While this is significantly lower than competitors like TikTok with over 2 billion users and Facebook with 3 billion, it surpasses other alternative-tech platforms like Parler and Gettr.

Although Truth Social shows promise, Trump Media faced significant financial losses in the initial nine months of last year. With only $3.4 million in revenue, the company reported a loss of $49 million and had to bear interest expenses of $37.7 million.

The common stock of Trump Media & Technology Group is set to trade under the ticker symbol "DJT" as the company embarks on a new phase in its journey as a publicly traded entity.

As Trump Media & Technology Group prepares for its debut on the Nasdaq, many will be closely watching the performance of Truth Social and the potential it holds in an increasingly competitive social media landscape.