• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Editor's Pick Trump Media stock erases all gains since it began trading as DJT shares fall another 11% Monday
Editor's Pick

Trump Media stock erases all gains since it began trading as DJT shares fall another 11% Monday

by April 9, 2024
by April 9, 2024 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

Shares of Trump Media have erased all their gains since they began trading under the ticker DJT last month.

As of Monday afternoon, the stock was priced at about $36 — down from a high of $66 seen March 27.

But experts say it’s hard to draw any firm conclusions about what the stock price’s movement means. That’s because so many available shares — about 12%, one of the highest ratios of any active stock listing — reflect traders’ bets that the stock will fall, said Ihor Dusaniwsky, managing director at S3 Partners, a data and predictive analytics company.

This is called short-selling.

Right now, much of the trading activity surrounding the stock reflects investors’ attempts to position bets around whether it will continue to fall, Dusaniwsky said in an email.

While some traders are looking to make even more gains from continued price declines, others may be looking to “squeeze” the short positions by betting that something will cause the share price to rise.

“This seems more like the gunfight at the OK Corral, with both sides waiting for the other to act first,” Dusaniwsky said.

As the stock’s price has rocked back-and-forth, former President Donald Trump, who owns a majority of the company’s shares, has seen his net worth move in tandem, falling from a high of about $5.2 billion down to about $2.9 billion.

But those figures are largely immaterial for Trump, since he is contractually barred from selling or even borrowing against his shares for six months.

In a post on Truth Social earlier this month, Trump called the company’s business ‘very solid’ and said criticisms of its ability to reach a wide audience were ‘lies.’

But according to company filings, Trump Media lost $58.2 million last year and did not report any user metrics.

Meanwhile, the company’s auditor issued a “going concern” notice for the business, saying it was not confident it would be able to stay afloat.

That auditor, BF Borgers CPA PC, has itself been the subject of recent reports about its effectiveness. For instance, it is banned in Canada.

In a news release last week, CEO Devin Nunes, a former U.S. congressman, said he was confident about the future of the business.

“We are excited to be operating as a public company and to have secured access to capital markets,’ Nunes said in a statement. ‘Closing out the 2023 financials related to the merger, Truth Social today has no debt and over $200 million in the bank, opening numerous possibilities for expanding and enhancing our platform.’

‘We intend to take full advantage of these opportunities to make Truth Social the quintessential free-speech platform for the American people,” Nunes said.

This post appeared first on NBC NEWS
You Might Also Like
  • Goldman Sachs rolls out an AI assistant for its employees as artificial intelligence sweeps Wall Street
  • McDonald’s announces plan to hire 375,000 employees this summer
  • Amazon’s Prime Day a ‘major’ cause of worker injuries, Senate probe finds
  • Berg Insight says 56.8 million patients worldwide are remotely monitored
Share
0
FacebookTwitterPinterestWhatsapp

previous post
Billionaire who helped Trump with $175M bond says he ‘probably didn’t charge enough’
next post
Despite Stable Markets, Breadth Says Danger

You may also like

Lawmakers weigh having regulators monitor social media for bank panics

April 2, 2023

Elon Musk’s X and Starlink face nearly $1 million in...

September 20, 2024

More than 15 million Toshiba laptop adapters recalled due to...

February 22, 2024

Boeing says it’s progressing on safety reforms and working with...

April 3, 2025

Southwest Airlines will charge to check bags for the first...

March 11, 2025

Couples 55 and older will be able to contribute more...

May 20, 2023

Latest jobs report signals that interest rates are unlikely to...

February 3, 2024

FTC drops Biden-era suit accusing Pepsi of price discrimination

May 23, 2025

New inflation data to reveal consumer strength amid highest interest...

October 12, 2023

More discounts — and pitfalls — await holiday shopping procrastinators

November 30, 2023

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Breakouts, Momentum & Moving Averages: 10 Must-See Stock Charts Right Now

      May 31, 2025
    • Leadership Rotation Could Confirm Corrective Phase

      May 30, 2025
    • Run Your Stock Portfolio Like a Pro Sports Team

      May 30, 2025
    • U.S. foreign tax bill sends jitters across Wall Street

      May 30, 2025
    • Amazon taps Xbox co-founder to lead new team developing ‘breakthrough’ consumer products

      May 30, 2025

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,765 views
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,472 views
    • 3

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 2,451 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,432 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,308 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,106)
    • Investing (538)
    • Stock (2,581)

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 3

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • Breakouts, Momentum & Moving Averages: 10 Must-See Stock Charts Right...

      May 31, 2025
    • Leadership Rotation Could Confirm Corrective Phase

      May 30, 2025
    • Run Your Stock Portfolio Like a Pro Sports Team

      May 30, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,106)
    • Investing (538)
    • Stock (2,581)

    Disclaimer: RoundTableThoughts.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    Pepsi and Delta say consumers are...

    July 12, 2024

    Barcelona protesters throw items and spray...

    July 10, 2024

    Federal regulators are probing whether Cash...

    February 16, 2024
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here