Shares of Trump Media & Technology Group (DJT) rose 6% in early trading Monday after shares rose 15% on Friday following news that Donald Trump would not sell his shares in the company.
Trump, who made the announcement on his Truth Social account on Friday afternoon, maintains a roughly 60% stake in DJT, Truth Social’s parent company.
At Monday’s opening levels of around $34 per share, Trump Media has a market capitalization of more than $7.3 billion, giving the president-elect a stake valued at more than $4.2 billion.
The company’s stock has been on a dizzying path since Trump’s victory over Kamala Harris in the presidential election, swinging between highs and lows.
In September, Trump Media shares traded at their lowest level since the company’s debut following the expiration of its much-publicized lockup period. The stock finally recovered from its lows as both domestic and foreign betting markets began to tilt in favor of a Trump victory.
Trump founded Truth Social after he was banned from major social media apps like Facebook (META) and Twitter, now . He officially returned to posting on X in mid-August after a hiatus of about a year.
As Truth Social attempts to take on social media headlines, the company’s fundamentals have long been in question.
On Tuesday, just hours before polls closed, DJT released third-quarter results that revealed a net loss of $19.25 million for the quarter ending September 30. This was down from the $26.03 million the company reported in the same period a year earlier. .
DJT also reported revenue of $1.01 million, a slight year-over-year decline compared to the $1.07 million it reported in the third quarter of 2023. For the trailing nine months through September 30, revenue They have fallen 23% compared to the previous year. period.
Alexandra Canal He is a senior reporter at Yahoo Finance. Follow her on X @allie_canal, LinkedIn, and email her at alexandra.canal@yahoofinance.com.
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