Trump Media & Technology Group (DJT) Shares Surge 26% Over Two Days

Trump Media & Technology Group, the company behind the Truth Social app, experienced a notable uptick in its stock performance, with shares rising by 26% on Thursday. This marked the second consecutive day of robust gains for the company.

The recent rally offers a rare glimmer of hope for Trump Media, which has seen its stock, trading under the symbol DJT, struggle since its highly anticipated stock market debut in late March. Despite the recent surge, Trump Media shares remain significantly lower compared to their initial offering, resulting in substantial losses in market value, including for former President Trump.

However, the positive momentum in share prices over the past two days has been met with optimism from Truth Social members, who also hold small positions in the company. One member, @snowblazer, expressed their commitment to holding onto their shares, citing their belief in free speech and truth prevailing in the long run.

“While it’s been a challenging journey, my conviction remains strong, and I have no intention of selling anytime soon,” @snowblazer remarked on Wednesday afternoon, reflecting the sentiments of many small shareholders.

 

Financial analysts urge caution regarding the stock.

Company management issued instructions on Wednesday aimed at impeding the short-selling of Trump Media shares among small shareholders.

Short selling involves investors betting that a share will decrease in value, a practice many small shareholders attribute to the company’s poor performance since its trading debut.

Despite recent gains in share value, financial experts caution that Trump Media’s prospects remain uncertain, placing small investors who retain the stock in a vulnerable position.

“It’s only a matter of time before they become disillusioned,” remarks Julian Klymochko, CEO of Accelerate Financial Technologies.

Trump Media recently announced plans to issue additional shares and launch live video streaming, a move viewed by investors as both risky and costly.