Donald Trump said he would not sell his Truth Social stock. But he technically can starting soon.
Published On Sep 18, 2024, 9:35 AM
Donald Trump has announced he has no intention of selling his stock in Trump Media & Technology Group (stock symbol: DJT), but he is technically able to do so beginning soon. His shares surged upon this announcement, although they have since declined about 10%. Trump retains a roughly 60% stake in DJT, which is currently valued at approximately $1.3 billion, despite having been worth over $4.5 billion shortly after the company's public debut. Since then, the stock has experienced significant volatility, correlating with the political landscape and Trump's legal challenges. The company recently reported a net loss of $16.4 million for the second quarter, raising questions about its financial stability.
Stock Forecasts
DJT
Negative
Given the recent decline in DJT shares and ongoing legal challenges for Trump, alongside the unimpressive quarterly results, investor sentiment might be cautious. Trump’s statements about not selling may create temporary price support, but fundamentals suggest further price pressure is likely as the company's financial health remains in doubt.
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Trump maintains a roughly 60% stake in Trump Media & Technology Group, which trades on the Nasdaq under the ticker symbol "DJT."