The focus of the second half of the year? The purest "Trump concept stock" surged 35% on Monday

Former U.S. President Donald Trump's social media company DWAC successfully "went public through a SPAC merger," soaring 35% during Monday's U.S. stock trading session and continuing to surge by 7.6% in after-hours trading.

Earlier, an appellate court significantly reduced the bond amount that Trump needed to submit in a civil fraud case.

The originally set bond amount was reduced from $454 million to $175 million, and the deadline for Trump to submit the bond was extended by 10 days from Monday.

This ruling resolved Trump's "urgent situation."

Trump is currently facing over $500 million in legal fees and damages. Investors are concerned that due to Trump's significant assets being mostly related to real estate, the hefty fines may force him to sell some of his DWAC shares to raise cash.

The substantial reduction in the bond amount reduces the likelihood of Trump selling shares and the board modifying the lock-up provisions of the merger agreement.

DWAC shareholders voted last Friday to approve the merger with the parent company of the social platform Truth Social, TMTG (Trump Media & Technology Group). Truth Social is a social media platform created by Trump in 2021, with the vast majority of users being Trump's supporters.

DWAC has officially been renamed TMTG and will begin trading on the Nasdaq from Tuesday under the code "DJT," representing Trump's full name initials.

Trump Enters the Ranks of the World's Top 500 Richest People

Selling shares may help Trump pay over $500 million in legal fees and damages.

In February, DWAC stated that Trump would own 78.75 million shares of the merged company, assuming maximum redemption by DWAC shareholders, which would account for 69.4% of the issued shares.

This means that the value of Trump's shares increased by $1.02 billion on Monday, and based on the closing price, the valuation will reach $3.93 billion.

Bloomberg has included these shares in Trump's net worth, with calculations showing that Trump's net worth has reached $6.4 billion, entering the ranks of the world's top 500 richest people for the first time in Bloomberg's Billionaires Index.

According to the current contract terms, Trump can only sell these shares at the earliest after 6 months, meaning this unexpected windfall cannot be cashed out immediately.

However, the board can vote to allow Trump to sell shares earlier. The board is expected to include several individuals close to Trump, including his son Donald Trump Jr. and Trump's former trade representative Robert Lighthizer.

DWAC's stock price has risen by a cumulative 160% since the beginning of this year, despite falling by around 15% since hitting a 52-week high on January 23