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DJT

Trump Media & Technology Group Corp.

Industry

Internet Content & Information

Trump Media & Technology Group Corp. develops a social media platform known as Truth Social that offers social networking services in the United States. The company was founded in 2021 and is based in Sarasota, Florida.

Open

19.57

Mkt cap

4.4B

Volume

2.5M

High

20.41

P/E Ratio

-8.56

52-wk high

79.38

Low

19.52

Div yield

N/A

52-wk low

11.75

Trump Media & Technology Group Corp (NASDAQ:DJT) shares are trading lower amid volatility after its Nasdaq debut. The company reported a $58.19 million net loss for 2023, with revenue of $4.13 million. The loss includes nearly $40 million in interest expense, and the company ended the year with $2.6 million in cash. Despite warnings of continued losses, the stock has surged, partly due to speculation about its role in Trump's potential re-election campaign and its popularity as a meme stock.

Portfolio Pulse from Adam Eckert

April 04, 2024 | 3:51 pm

Trump Media & Technology Group's shares are experiencing a downturn due to ongoing volatility after its recent debut on Nasdaq. The company has forecasted continued operating losses and negative cash flows from operating activities in the foreseeable future.

Portfolio Pulse from Benzinga Newsdesk

April 04, 2024 | 2:22 pm

Portfolio Pulse from Benzinga Newsdesk

April 04, 2024 | 1:26 pm

JJ Kinahan, chief market strategist at TD Ameritrade, suggests that Trump Media & Technology (NASDAQ:DJT) stock could be seen as a contribution to Donald Trump's potential 2024 campaign by his supporters. The stock has experienced volatility, with a recent sharp decline amid broader market scrutiny, emergency loans from a Russian-American businessman under investigation, and insider trading scandals. Trump Media's stock closed at $48.81, a 5.41% decrease.

Portfolio Pulse from Benzinga Neuro

April 04, 2024 | 6:38 am

Trump Media & Technology Group Corp (NASDAQ:DJT), backed by former US President Donald Trump, received emergency loans in 2022 from a trust linked to Russian-American businessman Anton Postolnikov, who is under federal investigation. These loans were crucial for Trump Media's public debut and its merger with Digital World Acquisition Corporation. The company's stock recently fell after disclosing significant losses and being linked to a $22 million insider trading scheme.

Portfolio Pulse from Benzinga Neuro

April 04, 2024 | 3:36 am

Two brothers, Michael and Gerald Shvartsman, have pleaded guilty to securities fraud involving insider trading with information about the merger between Digital World Acquisition Corp. (DWAC) and Trump Media & Technology Group, the parent company of Truth Social. This insider trading scheme, which allowed them to profit illegally from nonpublic information about the merger, carries a maximum sentence of 20 years in prison. The scandal has added to the challenges facing the SPAC merger, which has also seen Trump Media & Technology Group's stock under pressure due to significant losses and legal disputes.

Portfolio Pulse from Benzinga Neuro

April 04, 2024 | 1:45 am

Two Florida men, Michael and Gerald Shvartsman, pleaded guilty to insider trading, making over $22 million from trades related to the public announcement of Trump Media & Technology Group going public via Digital World Acquisition Corp. (DWAC) and Benessere Capital Acquisition Corp. They are set for sentencing in July, with recommended prison time and forfeiture of profits. The case does not implicate Trump or Trump Media & Technology Group.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 5:29 pm

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 1:18 pm

Former U.S. President Donald Trump has filed a lawsuit against Andy Litinsky and Wes Moss, co-founders of Trump Media & Technology Group (NASDAQ:DJT), alleging they failed to fulfill their obligations, impacting the company's governance and merger efforts. This legal action comes as Trump Media's shares fell 21% following a reported $58 million loss and minimal revenue for 2023. Despite these challenges, Trump's stake in the company, valued at $4.06 billion, has increased his net worth, with the company's market capitalization at $7.13 billion.

Portfolio Pulse from Benzinga Neuro

April 03, 2024 | 1:26 am

Trump Media & Technology Group shares are trading higher, possibly due to a rebound after the company announced expected continued operating losses and negative cash flows for the foreseeable future.

Portfolio Pulse from Benzinga Newsdesk

April 02, 2024 | 5:32 pm

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