Trump Media & Technology Group (NASDAQ:DJT) Trading Up 7.3% – Here’s Why

Trump Media & Technology Group Corp. (NASDAQ:DJT)’s share price shot up 7.3% during mid-day trading on Wednesday . The company traded as high as $45.77 and last traded at $36.41. 111,483,793 shares were traded during mid-day trading, an increase of 668% from the average session volume of 14,521,403 shares. The stock had previously closed at $33.94.

Trump Media & Technology Group Price Performance

The stock’s fifty day simple moving average is $23.36 and its 200-day simple moving average is $31.98.

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

Insider Buying and Selling

In related news, CEO Devin G. Nunes sold 27,846 shares of Trump Media & Technology Group stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $22.70, for a total transaction of $632,104.20. Following the completion of the transaction, the chief executive officer now directly owns 87,154 shares in the company, valued at $1,978,395.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Trump Media & Technology Group news, COO Andrew Northwall sold 3,467 shares of Trump Media & Technology Group stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $22.70, for a total value of $78,700.90. Following the completion of the sale, the chief operating officer now directly owns 16,533 shares of the company’s stock, valued at approximately $375,299.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Devin G. Nunes sold 27,846 shares of Trump Media & Technology Group stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $22.70, for a total transaction of $632,104.20. Following the completion of the sale, the chief executive officer now directly owns 87,154 shares of the company’s stock, valued at $1,978,395.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 128,138 shares of company stock worth $2,908,733 in the last ninety days. Insiders own 14.80% of the company’s stock.

Institutional Trading of Trump Media & Technology Group

Several hedge funds and other institutional investors have recently bought and sold shares of DJT. Lincoln Capital Corp purchased a new stake in shares of Trump Media & Technology Group during the 3rd quarter valued at $323,000. Greenwich Wealth Management LLC purchased a new stake in shares of Trump Media & Technology Group during the 3rd quarter valued at $10,946,000. Sapient Capital LLC purchased a new stake in shares of Trump Media & Technology Group during the 3rd quarter valued at $2,339,000. Vontobel Holding Ltd. purchased a new stake in shares of Trump Media & Technology Group during the 3rd quarter valued at $386,000. Finally, Creative Planning purchased a new stake in shares of Trump Media & Technology Group during the 3rd quarter valued at $538,000. 4.29% of the stock is owned by hedge funds and other institutional investors.

About Trump Media & Technology Group

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.