We recently published Ten companies that steal the show on Wall Street. Trump Media & Technology Group Corp. (NASDAQ:DJT) is one of Thursday’s best performers.
Trump Media soared 41.93 percent on Thursday to close at $14.86 apiece, as investors repositioned their portfolios following news that it would merge with TAE Technologies, Inc. for $6 billion.
In a statement, Trump Media & Technology Group Corp. (NASDAQ:DJT) said it officially signed a definitive merger agreement with TAE Technologies to combine in an all-stock transaction, which is believed to create one of the world’s first publicly traded merger companies.
As part of the deal, Trump Media & Technology Group Corp. (NASDAQ:DJT) would provide TAE with $200 million in cash on the signing date, and an additional $100 million upon the initial filing of Form S4 on mergers, acquisitions and exchange offers with the Securities and Exchange Commission.
Following a successful merger, the combined company would immediately begin construction next year on the world’s first commercial-scale fusion power plant, capable of powering 50 MWe.
Thereafter, it would intensify the expansion of fusion power plants with capacities ranging between 350 and 500 MWe.
“Fusion power plants are expected to provide affordable, abundant and reliable electricity that would help the United States win the AI ​​revolution and maintain its global economic dominance,” said Trump Media & Technology Group Corp. (NASDAQ:DJT).
Upon completion of the transaction, shareholders of each party would own an equal 50 percent stake in the combined company.
While we recognize DJT’s potential as an investment, our conviction lies in the belief that some AI stocks have more promise to generate higher returns and have limited downside risk. If you’re looking for an extremely cheap AI stock that’s also one of the biggest beneficiaries of Trump’s tariffs and offshoring, check out our free report on the best short-term AI stock.
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Disclosure: None. This article was originally published in Internal jumpsuit.