Trump Media becomes first company listed on NYSE Texas, boosting exchange presence

From Yahoo Finance: 2025-03-31 08:07:00

Trump Media & Technology Group becomes the first company listed on NYSE Texas, boosting the exchange’s presence in the Lone Star state. The company, primarily owned by Donald Trump, will also list its warrants on the Texas exchange while maintaining its primary listing on Nasdaq. NYSE faces competition from Nasdaq and the Texas Stock Exchange.

The Texas Stock Exchange aims to launch in 2026 as a national securities exchange, backed by heavyweights like BlackRock and Citadel Securities. Trump Media CEO Devin Nunes highlights the company’s plans to reincorporate in Florida, emphasizing a move towards states valuing free enterprise and personal freedom. Trump Media stock has experienced volatility on retail trading forums.

While securing the NYSE listing is a win, some view it as symbolic and suggest the exchange must enhance liquidity to thrive. The competition among listing venues could position Texas as a financial hub challenging New York. The state’s business-friendly environment and focus on economic growth make it an attractive location for financial ventures.

BlackRock’s iShares division seeks SEC approval for a Texas-focused ETF, investing in Texas-based companies in the Russell Texas Equity Index. The ETF could begin trading by early June pending regulatory approval. This move aligns with the growing interest in Texas as a financial center, adding to the state’s appeal for investors and companies.



Read more at Yahoo Finance: Trump Media lists on NYSE Texas, handing early win to exchange