Trump Media & Technology Group (NASDAQ:DJT) Trading Up 10% – Here’s Why

Trump Media & Technology Group Corp. (NASDAQ:DJT) shares shot up 10% during mid-day trading on Friday . The stock traded as high as $32.00 and last traded at $30.47. 41,758,043 shares changed hands during mid-day trading, an increase of 173% from the average session volume of 15,280,396 shares. The stock had previously closed at $27.69.

Trump Media & Technology Group Price Performance

The stock’s 50-day simple moving average is $23.84 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) EPS for the quarter. The firm had revenue of $0.84 million for the quarter.

Insider Activity at Trump Media & Technology Group

In other Trump Media & Technology Group news, CEO Devin G. Nunes sold 27,846 shares of the business’s stock in a transaction that occurred 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 completion of 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Trump Media & Technology Group news, CEO Devin G. Nunes sold 27,846 shares of the firm’s 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 directly owns 87,154 shares of the company’s stock, valued at approximately $1,978,395.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Phillip Juhan sold 84,941 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $22.70, for a total value of $1,928,160.70. Following the transaction, the chief financial officer now directly owns 405,059 shares in the company, valued at approximately $9,194,839.30. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 128,138 shares of company stock worth $2,908,733. Corporate insiders own 14.80% of the company’s stock.

Hedge Funds Weigh In On Trump Media & Technology Group

Institutional investors have recently bought and sold shares of the company. Greenwich Wealth Management LLC purchased a new stake in shares of Trump Media & Technology Group in the third quarter valued at about $10,946,000. Sapient Capital LLC purchased a new stake in Trump Media & Technology Group in the 3rd quarter valued at approximately $2,339,000. Busey Bank acquired a new position in Trump Media & Technology Group during the 3rd quarter worth approximately $727,000. Creative Planning purchased a new position in shares of Trump Media & Technology Group during the 3rd quarter worth approximately $538,000. Finally, Vontobel Holding Ltd. acquired a new stake in shares of Trump Media & Technology Group in the 3rd quarter valued at approximately $386,000. 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.