Trump Media & Technology Group (NASDAQ:DJT) Shares Gap Down – Should You Sell?

Trump Media & Technology Group Corp. (NASDAQ:DJT) shares gapped down before the market opened on Wednesday . The stock had previously closed at $51.51, but opened at $47.53. Trump Media & Technology Group shares last traded at $47.04, with a volume of 16,839,817 shares changing hands.

Trump Media & Technology Group Stock Performance

The stock’s 50-day moving average is $22.70 and its 200-day moving average is $31.86.

Trump Media & Technology Group (NASDAQ:DJT) last released its earnings results on Friday, August 9th. The company reported ($0.10) EPS for the quarter. The company had revenue of $0.84 million during the quarter.

Insider Activity

In other Trump Media & Technology Group news, General Counsel Scott Glabe sold 4,083 shares of Trump Media & Technology Group stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $22.70, for a total value of $92,684.10. Following the transaction, the general counsel now owns 15,917 shares in the company, valued at $361,315.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, General Counsel Scott Glabe sold 4,083 shares of the stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $22.70, for a total value of $92,684.10. Following the completion of the sale, the general counsel now owns 15,917 shares of the company’s stock, valued at $361,315.90. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Devin G. Nunes sold 27,846 shares of Trump Media & Technology Group stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $22.70, for a total transaction of $632,104.20. Following the transaction, the chief executive officer now owns 87,154 shares in the company, valued at $1,978,395.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 128,138 shares of company stock valued at $2,908,733 in the last 90 days. 14.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Moisand Fitzgerald Tamayo LLC acquired a new stake in shares of Trump Media & Technology Group in the 3rd quarter valued at about $34,000. Allworth Financial LP acquired a new stake in Trump Media & Technology Group during the third quarter valued at approximately $48,000. Amalgamated Bank bought a new position in Trump Media & Technology Group during the 3rd quarter worth approximately $58,000. Avondale Wealth Management acquired a new position in shares of Trump Media & Technology Group in the 3rd quarter worth approximately $64,000. Finally, CWM LLC acquired a new stake in shares of Trump Media & Technology Group during the 3rd quarter valued at approximately $66,000. 4.29% of the stock is owned by institutional investors and hedge funds.

Trump Media & Technology Group Company Profile

Trump Media & Technology Group Corp. develops a social media platform known as Truth Social that offers social networking services in the United States. The company was founded in 2021 and is based in Sarasota, Florida.