QUICK HITS

1 Trump’s social media company posts large gains in IPO:

Trump Media & Technology Group posted soaring 48.7% gains by afternoon in its first day of trading under its new ticker,“DJT.”The company took the place of a shell company that had been trading on the Nasdaq after the two merged. The stock’s price has shot well beyond what several experts say is reasonable, driven by excitement about Trump’s latest run for the White House. Truth Social, the platform that’s the company’s main asset, is losing money and expects to continue to do so while competing against rivals with many more users.

2 Trump’s mother-in-law came to U.S. through process president derided:

Melania Trump sponsored her mother to immigrate to the United States through a family-based process that former president Donald Trump aggressively sought to end, according to federal immigration records released Monday. Trump and his top advisers had repeatedly disparaged as “chain migration,” or the right of U.S. citizens to bring their parents to the United States, the process that the former first lady’s mother, Amalija Knavs, followed from Slovenia to the U.S.

3 Powerball jackpot climbs to $865 million:

The Powerball jackpot has increased to an estimated $865 million after yet another drawing without a big winner, continuing a winless streak that dates to New Year’s Day. The numbers drawn were: 7, 11, 19, 53 68 and red ball 23. Since the last jackpot winner on Jan. 1, there have been 36-straight drawings without someone matching all of the game’s six numbers.

4 Willie in Philly — music legend takes July 4 picnic north:

Willie Nelson’s Fourth of July Picnic is two-stepping out of Texas to the Philadelphia area. The country luminary’s mostly annual mega-concert, hosted in Texas for most of its 50-year-history, will be held for the first time in the Northeast. The bill includes Bob Dylan and the duo of Robert Plant and Alison Krauss. Nelson first threw the giant patriotic party in 1973.