Trump Media & Technology Group (NASDAQ:DJT) Shares Down 4.5% - Here's What Happened

Key Points

• Trump Media & Technology Group shares fell 4.5% to $6.675, with trading volume down 74% from its average daily level.
• Analyst sentiment remains negative: the stock carries an average “Sell” rating, while one firm upgraded it only from “strong sell” to “sell” and another downgraded its rating.
• Several institutional investors, including BlackRock and State Street, recently bought or increased stakes, but institutional ownership remains low at 4.29%.

Shares of Trump Media & Technology Group Corp. (NASDAQ:DJT - Get Free Report) fell 4.5% during trading on Monday. The stock traded as low as $6.70 and last traded at $6.6750. Approximately 1,105,894 shares were traded during trading, a decline of 74% from the average daily volume of 4,204,212 shares. The stock had previously closed at $6.99.

Analyst Ratings Changes

DJT has been the subject of several recent analyst reports. Wall Street Zen upgraded shares of Trump Media & Technology Group from a "strong sell" rating to a "sell" rating in a report on Saturday, October 10th. Weiss Ratings lowered Trump Media & Technology Group from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Wednesday, September 2nd. One investment analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, the stock has an average rating of "Sell".

Trump Media & Technology Group Trading Down 3.1%

The firm has a market cap of $1.88 billion, a price-to-earnings ratio of -1.39 and a beta of 4.07. The firm has a 50-day moving average of $8.74 and a two-hundred day moving average of $8.87.

Hedge Funds Weigh In On Trump Media & Technology Group

Several large investors have recently added to or reduced their stakes in DJT. BlackRock Inc. bought a new stake in Trump Media & Technology Group in the second quarter valued at about $101,684,000. State Street Corp increased its holdings in shares of Trump Media & Technology Group by 32.0% during the second quarter. State Street Corp now owns 4,191,672 shares of the company's stock worth $32,444,000 after buying an additional 1,015,305 shares in the last quarter. Yorkville Advisors Global LP bought a new position in shares of Trump Media & Technology Group in the second quarter valued at approximately $17,618,903. Anson Funds Management LP acquired a new position in Trump Media & Technology Group in the first quarter worth $6,598,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Trump Media & Technology Group in the second quarter valued at about $4,047,000. Institutional investors and hedge funds own 4.29% of the company's stock.

Trump Media & Technology Group Company Profile

Trump Media & Technology Group Corp. is a technology and media company that develops social media, streaming and financial-services products. Its primary platform is Truth Social, a social networking service designed to support user-generated content, discussion and content sharing.

The company also operates Truth+, a streaming platform offering video content, including news, entertainment and other programming. In addition, TMTG has introduced Truth.Fi, a financial-services and fintech initiative intended to provide products such as investment accounts and exchange-traded funds through third-party partners.

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