Trump Media & Technology Group (NASDAQ:DJT) Stock Sees Heavy Put Option Buying

Trump Media & Technology Group Corp. (NASDAQ:DJT – Get Free Report) was the target of unusually large options trading on Thursday. Stock investors bought 30,315 put options on the stock. This is an increase of approximately 56% compared to the typical daily volume of 19,492 put options.

Trump Media & Technology Group Stock Performance

DJT stock traded down $0.48 during mid-day trading on Thursday, hitting $4.01. 10,022,536 shares of the company were exchanged, compared to its average volume of 4,382,401. Trump Media & Technology Group has a 1-year low of $3.80 and a 1-year high of $17.09. The firm’s 50 day simple moving average is $8.05 and its 200 day simple moving average is $9.23. The firm has a market cap of $1.11 billion, a P/E ratio of -0.82 and a beta of 1.35.

Institutional Investors Weigh In On Trump Media & Technology Group

A number of hedge funds and other institutional investors have recently made changes to their positions in DJT. Commonwealth Equity Services LLC boosted its stake in Trump Media & Technology Group by 8.6% in the 3rd quarter. Commonwealth Equity Services LLC now owns 54,769 shares of the company’s stock worth $496,000 after purchasing an additional 4,351 shares during the period. TrinityBridge Ltd acquired a new stake in shares of Trump Media & Technology Group in the 3rd quarter valued at about $1,206,000. Trueblood Wealth Management LLC lifted its holdings in shares of Trump Media & Technology Group by 28.5% in the third quarter. Trueblood Wealth Management LLC now owns 45,047 shares of the company’s stock valued at $408,000 after purchasing an additional 10,000 shares in the last quarter. Root Financial Partners LLC bought a new stake in shares of Trump Media & Technology Group in the third quarter valued at about $39,000. Finally, Axxcess Wealth Management LLC lifted its holdings in shares of Trump Media & Technology Group by 2.8% in the third quarter. Axxcess Wealth Management LLC now owns 72,161 shares of the company’s stock valued at $654,000 after purchasing an additional 1,960 shares in the last quarter. 4.29% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about Trump Media & Technology Group

Here are the key news stories impacting Trump Media & Technology Group this week:

  • Neutral Sentiment: Trump Media and TAE Technologies filed an amended registration statement for their proposed merger, a step in advancing the transaction. The filing does not by itself ensure completion or establish the merger’s eventual value to DJT shareholders. Trump Media and TAE Technologies file amended merger registration
  • Neutral Sentiment: A reported transfer of 4,259 bitcoin is close in size to collateral pledged for a loan. The headline raises questions about the relationship between the transfer and the collateral, but provides no clear indication of an immediate financial impact on the company. Trump Media Bitcoin transfer and pledged loan collateral
  • Negative Sentiment: Democrats’ midterm gains and control of Congress prompted a sharp decline in DJT shares. Coverage cited investor concerns about the political outlook and possible congressional scrutiny; the sell-off also reduced the value of Donald Trump’s stake. Trump Media stock plunges after midterms
  • Negative Sentiment: Reports described the stock hitting record lows amid the post-election turmoil, adding to concerns about its steep decline and weakened market valuation. Trump Media stock hits record low amid post-election turmoil

Analyst Ratings Changes

Several research analysts have weighed in on the company. Weiss Ratings lowered Trump Media & Technology Group from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, September 2nd. Wall Street Zen downgraded Trump Media & Technology Group from a “sell” rating to a “strong sell” rating in a report on Sunday. One equities research analyst has rated the stock with a Sell rating. According to MarketBeat.com, Trump Media & Technology Group currently has a consensus rating of “Sell”.

Read Our Latest Stock Analysis on Trump Media & Technology Group

About Trump Media & Technology Group

(Get Free Report)

Trump Media & Technology Group Corp. is a media and technology company focused on developing social media, streaming and other digital services. Its principal platform is Truth Social, a social networking service that enables users to create posts, follow accounts and participate in online discussions.

The company also operates Truth+, a streaming platform offering video content, including news and entertainment programming. TMTG has additionally announced plans to develop Truth.Fi, a financial services and technology initiative intended to include products such as separately managed accounts, exchange-traded funds and other investment-related offerings.

Further Reading

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