Investing in Trump Media & Technology Group stock (DJT) has been a rollercoaster ride recently, with shares jumping as much as 15% in a single day. The surge came after Donald Trump announced that he would not be selling his shares in the company, which is home to his social media platform, Truth Social.
Trump, who holds a significant 60% interest in DJT, made the announcement on his Truth Social account, stating that he has no intention of selling. This declaration caused shares to initially spike but then settle at around a 9% gain.
With the current share price hovering around $30, Trump Media has a market capitalization of approximately $6.5 billion, giving the former President a stake worth about $3.9 billion. Despite the recent positive movement, the stock has been volatile, with a nearly 23% drop just the day before Trump’s announcement.
In the past month, DJT shares have rallied by more than 60%, but it wasn’t always smooth sailing for the company. In September, the stock hit its lowest point since its debut, following the expiration of a lockup period. However, as speculation mounted around a potential Trump victory in the presidential election, both domestic and overseas betting markets shifted in favor of the company.
Trump founded Truth Social in response to being banned from major social media platforms like Facebook and Twitter after the January 6, 2021, Capitol riots. While he has since been reinstated on those platforms, he has continued to build his presence on Truth Social as an alternative platform.
Despite the hopes for Truth Social to disrupt the social media landscape, the company’s financials have raised concerns. DJT recently reported a net loss of $19.25 million in the third quarter, although this was an improvement from the previous year. Revenue also saw a slight decline year-over-year, with a 23% decrease over the first nine months of the year.
As investors weigh the potential of Trump Media & Technology Group, the stock continues to be a headline-grabbing investment opportunity with its ups and downs in the market. Stay tuned for more updates on this dynamic company and its impact on the finance world.