If you havent seen the movie about game stop called "Dumb Money" please watch it.
The movie is a reflection on what took place during the gamestop short squeeze. In a nutshell you had Citadel who managed the order flow for RobinHood and other brokers collude with wall street hedge funds to screw over retail. The hedge funds and citadel were losing billions on their short positions in an attempt to bankrupt Game Stop.
Retailers, led by an anon who goes by Roaring Kitty noticed the large short position on GME and started to squeeze wall street. It led to a massive move in GME which was thought to be the squeeze that would end the short and wall street.
Unfortunately the brokers at the direction of Citadel disabled retail from being allowed to open new positions on GME, killing the squeeze.
Congress even investigated the events and found no wrong doing.
Now fast forward to now. Donald Trump is going to be winning back the office. He also will have a publicly traded company after his initials - $DJT on the nasdaq for Trump Media and Technology company.
Retailers who know absolutely nothing about the stock market but love Trump, will buy this stock in a frenzy just because its tied to the greatest president of our time.
I imagine a lot of shorts who have TDS will be shorting it as well, but we know our movement is greater and those shorts will be trapped. Wall street will see this as another opportunity to steal from retail and short it as well.
End result, we will see another GME with DJT stock. It will be more powerful then GME and do you really think Trump will be siding with wall street who was shorting his company? Dont think so.
Retribution is coming. We will see the real MOASS and it will take out wall street and citadel from the game they have been controlling.
EDIT: Nevermind (lol).
That means it must be approved.
I supposed, theoretically, that they might do the same symbol if one is an ETF on the NYSE and the other is a stock on the NASDAQ, but it would add confusion. The Trump followers who want to buy the Trump stock might end up buying the wrong thing.
They can ASK for anything they want. Will they GET everything they ask for?
Either way, stock could go higher on nothing but being associated with Trump -- like the move on the DeSantis drop out news.
Guys...
I understand your confusion with the dow jones. That is an index. Its composition of a handful of industrial stocks. You cannot buy it as a stock. You can trade Dow Jones Futures but no one can buy a DJT stock - when the stock is listed after the merger DWAC converts to DJT stock.
Yes, I stand corrected. It is not a stock or ETF. So, DJT is available as a symbol.