Hudson Bay, Morgan Stanley took positions in Trump social media firm in Q1

NEW YORK - Hudson Bay Capital Management, Geode Capital Management and Morgan Stanley were among the large institutional investors that took positions in Donald Trump 's Trump Media & Technology Group in the first quarter, securities filings showed on Wednesday.

Hudson Bay Capital bought 150,000 shares in the quarter, initiating a position worth nearly $10 million at the end of March and now worth about $7.8 million. Geode Capital Management, a spinoff of mutual fund giant Fidelity, bought 102,923 shares during the quarter, while Morgan Stanley bought 44,346 shares.Shares of Trump Media have been volatile, surging as much as 59% when they began trading on the Nasdaq on March 26.

The company reported an operating loss of $10.6 million for the first nine months of 2023 on revenue of $3.4 million, and currently has a market value of approximately $7 billion.

Morgan Stanley Geode Capital Management Hudson Bay Capital Trump Media Institutional Investors Capital Management Positions

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