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

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

Trump Media & Technology Group Stock Performance

The business’s 50 day moving average is $23.36 and its 200 day moving average is $31.98.

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

Insider Buying and Selling at Trump Media & Technology Group

In other Trump Media & Technology Group news, General Counsel Scott Glabe sold 4,083 shares of the company’s 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 transaction, the general counsel now owns 15,917 shares in the company, 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 SEC, which is available at this hyperlink. In other news, CFO Phillip Juhan sold 84,941 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $22.70, for a total transaction of $1,928,160.70. Following the completion of the sale, the chief financial officer now owns 405,059 shares in the company, valued at approximately $9,194,839.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Scott Glabe sold 4,083 shares of the stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $22.70, for a total transaction of $92,684.10. Following the transaction, the general counsel now directly 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 disclosure for this sale can be found here. Insiders sold 128,138 shares of company stock worth $2,908,733 over the last 90 days. Corporate insiders own 14.80% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in DJT. Rakuten Securities Inc. purchased a new position in Trump Media & Technology Group in the third quarter valued at about $27,000. Moisand Fitzgerald Tamayo LLC purchased a new position in Trump Media & Technology Group in the third quarter valued at about $34,000. Allworth Financial LP purchased a new position in Trump Media & Technology Group in the third quarter valued at about $48,000. Archer Investment Corp purchased a new position in Trump Media & Technology Group in the third quarter valued at about $48,000. Finally, Huntington National Bank purchased a new position in Trump Media & Technology Group in the third quarter valued at about $51,000. 4.29% of the stock is owned by hedge funds and other institutional investors.

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.