With Donald Trump facing dozens of federal criminal charges and hundreds of millions in legal expenses, Trump Media & Technology Group Corp. went public on the Nasdaq exchange March 26
With Donald Trump facing dozens of federal criminal charges and hundreds of millions in legal expenses, Trump Media & Technology Group Corp. went public on the Nasdaq exchange March 26FILE - Former President Donald Trump speaks with construction workers at the construction site of the new JPMorgan Chase headquarters in midtown Manhattan, Thursday, April 25, 2024, in New York. There have been lawsuits, short-selling and rampant speculation.
Here are some key takeaways from experts and regulator filings that help explain why Trump Media's stock — ticker symbol DJT — has gone up and down, and why its performance continues to confound Wall Street expectations: Day 1 looked like a windfall for Trump, who controls about 65% of the stock, and other early investors: Shares surged 59% to $79.38. Trump’s wealth immediately grew to $8 billion on paper. But he couldn’t cash out because of a “lock-up” provision that generally prevents company insiders from selling newly issued shares for six months.
Truth Social launched in 2022, and the former president uses the platform like he often used Twitter, now known as X: to spread misinformation, praise supporters and attack his political rivals. Trump's retail investors appear to be ignoring the company's fundamentals and placing a bet that the former president will ensure it succeeds, according to analysts and other experts.
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