Trump Media & Technology Group (DJT), spearheaded by President Donald Trump, focuses on social media, streaming services, news, and more, aiming to go beyond “mainstream” platforms. One of its main selling points is the promise of avoiding censorship. Its brands include Truth Social, Social+, and Truth.Fi, which provides financial services.
Trump Media & Technology Group continues its struggles in the stock market. The stock is down 50 % year-to-date while being 70% off its 52-week high of $56.55.
Trump Media to Debut on NYSE Texas
Trump Media & Technology Group announced on March 31 its planned listing on the New York Stock Exchange Texas. The stock currently trades on the Nasdaq Exchange and will continue even after its NYSE Texas listing.
Trump Media will become the first new stock to list on NYSE Texas and will use the same ticker “DJT” as it does in its Nasdaq listing.
Trump Media CEO and Chairman Devin Nunes calls it a “great fit” as TMTG looks to diversify into financial and other services realms.
TMTG is also planning to reincorporate in Florida.
President Donald Trump to Sell His Stake?
Interestingly, as per a recent filing with the Securities and Exchange Commission (SEC), Trump Media revealed that the company can sell more than 142 million shares including 114.75 million shares owned by Trump. These shares are controlled by his son and kept in a trust.
However, it is to be noted that the stake has remained clear for sale since June 2024 and the latest filling just reiterates this in order to keep the sale authorization effective. Also back in September 2024, Trump cleared the air by saying that he will not be selling his stake and does not need money.
Amid the buzz, TMTG has clarified by issuing a statement that “there is no open window for any affiliate to sell shares.”
Trump Media’s Financial Condition
Trump Media & Technology Group is in a financial mess. The company only generated $3.62 million in revenue in 2024 while incurring operating costs of $61 million, of which half were related to legal expenses involving a special purpose acquisition company (SPAC) merger. TMTG incurred non-cash losses of $107.4 in stock-based compensation and $225.9 million due to adjustments in derivative liability mostly incurred in Q1.
Ultimately, the company completed the quarter with a cash reserve of $776.8 million as it evolves into a holding company.
Should You Buy DJT?
At present, no analyst has shown any interest in the stock as tracked by Barchart, showing a clear disconnect with the financial world. This reflects the stock’s poor visibility in the market while making liquidity a concern for investors.
