Former President Donald Trump has expanded investment opportunities in recent weeks, adding a cryptocurrency token and a silver commemorative coin to the list that already includes shares of Truth Social-parent Trump Media & Technology.
The former president has previously launched golden sneakers, bibles, non-fungible tokens (NFTs) and physical Trump cards. The Donald Trump stock on Tuesday appeared headed for its first gain after six consecutive declines that followed Friday's end of selling restrictions on Trump and other insiders. Here are the other new assets tied to the Trump name.
First: DJT Stock
DJT shares fell sharply, then rebounded more than 6% during early market action on Tuesday after sinking more than 10% on Monday. The Trump stock plunged 24.6% last week.
DJT stock began trading as Trump Media on March 26, coming public via a SPAC merger with Digital World Acquisition. Even including the pre-SPAC DWAC trading, Trump Media set its lowest price since Oct. 21, 2021, the day after DWAC and Trump Media to combine.
DJT stock hit a recent high of 46.27 on July 12, just after the first assassination attempt on the candidate. At that point, the former president showed a commanding lead over President Biden. Biden later dropped out and threw his support behind Vice President Kamala Harris.
Trump Media has scant revenue, reporting roughly $800,000 in each of the last three quarters, along with ongoing losses. Still, the stock trades an average of more than 8.9 million shares per day.
DJT stock has traded at times as a sentiment indicator about Donald Trump's political campaign.
Sept. 20 was the first day for insiders to sell. Tuesday will be when the general public learns of whether any such sales took place. Insiders are required by securities law to disclose sales within two business days, which means Friday sales must be disclosed by late Tuesday.
Any insider sales on Monday must be disclosed by late Wednesday, and so on.
Trump Media Hits New Low As Former President, Insiders Can Sell DJT Stock
On Sept. 13, Donald Trump posted on Trump Media's Truth Social that he wouldn't sell DJT stock when the lockup expired. Shares gained 12% that day, but the selling quickly resumed. Trump owns a majority of DJT stock.
Second: A Silver Coin
Trump, through the website realtrumpcoins.com, last weekend launched a commemorative silver coin. Price: $100.
The site describes the coin as being designed by Trump and that it is 1 ounce of .999 pure silver. It comes with a certificate of authenticity, according to the description.
Over the weekend, Trump wrote on Truth Social that the coins are "The ONLY OFFICIAL coin designed by me – and proudly minted here in the U.S.A."
Silver spot prices traded around $31 per ounce on Tuesday, as prices have jumped more than 30% in 2024.
Third: The Trump-Backed Crypto Token
Meanwhile, Trump, who has signaled support for cryptocurrencies during the 2024 campaign, has backed a new token.
On Sept. 16, Trump, along with two of his sons and others, unveiled the World Liberty Financial currency during a livestream on X. The team said 63% of the tokens will be sold to the public, 17% will be given to users of the project and 20% will go to the team and advisers behind the venture.
Cryptocurrency Prices And News
The crypto so far is available only on a limited basis to accredited investors under what is known as a Regulation D exemption, CoinDesk reports. Eventually, plans are to make 63% of the token available to the public. Trump and his sons said "they only want token buyers who are seeking to be participants in governance, not those after an economic return."
Trump has made an about-face on crypto, calling it a "scam against the dollar" several years ago. Adding JD Vance as his running mate gave Trump a broader technological stance. Vance has several years of experience as a Silicon Valley venture capitalist, and is a proponent of easing federal regulatory oversight of cryptocurrencies.
Please follow Kit Norton on X @KitNorton for more coverage.
YOU MAY ALSO LIKE:
Is Tesla Stock A Buy Or A Sell?
Get Full Access To IBD Stock Lists And Ratings
Learning How To Pick Great Stocks? Read Investor's Corner
AI Is Fueling A 'Nuclear Renaissance.' Bill Gates And Jeff Bezos Are In The Mix.
Bulls In Control With Three Titans In Buy Areas; What To Do Now
