Staff Reporter
Trump Media & Technology Group announced on Monday that it has become the first company to be listed on NYSE Texas, marking an early win for the exchange as it prepares for intense competition in the Lone Star State.
The company, which operates Truth Social and is primarily owned by President Trump, will also list its warrants on the Texas exchange, though its main listing will continue to be on Nasdaq.
This move could strengthen the NYSE, owned by Intercontinental Exchange, which became the first exchange to operate in Texas on the same day.
Texas hosts the largest number of companies listed on the New York Stock Exchange, boasting a combined market value exceeding $3.7 trillion, and is now witnessing increased competition among stock exchanges.
NYSE will face competition from Nasdaq, which announced plans to establish a regional headquarters in Texas earlier this month, as well as the Texas Stock Exchange, a venture supported by major players like BlackRock and Citadel Securities. The Texas Stock Exchange filed paperwork in January to operate as a national securities exchange, aiming for a launch in 2026.
“This listing, along with our plans to relocate to Florida, reflects our commitment to moving our business to states that prioritize free enterprise and personal freedom,” said Trump Media CEO Devin Nunes.
Trump Media has gained popularity among retail investors and has experienced significant volatility, particularly around election periods.
“The business-friendly environment in Texas — with fewer political challenges and a stronger focus on business priorities — creates a unique opportunity,” said Derek Wilson, co-founder of Dallas Opportunity Partners, an investor in the Texas Stock Exchange.
