Trump Media settles legal dispute with firm's co-founders
Since its 2024 merger, Trump Media has reported low quarterly revenues with no growth. Operating expenses, meanwhile, have been larger and have increased.
Trump Media (NASDAQ: DJT) the company behind Truth Social, Truth+, and the Truth.Fi fintech brand has inched closer to launching its own Bitcoin exchange-traded fund (ETF) after submitting an amended registration to the U.S. Securities and Exchange Commission (SEC) on August 11.
New America Acquisition I Corp, a blank-check firm backed by Eric Trump and Donald Trump Jr., on Monday filed for an initial public offering of up to $300 million in the United States.
Trump Media's core business remains weak, with Q2 revenues under $1 million and heavy operating losses even when excluding legal expenses. The company pivoted in Q2, raising $2.4 billion to invest in Bitcoin and related assets, but that hasn't changed its business fundamentals. Valuation is extremely high, trading at about 1,375 times sales, making the stock very expensive compared to peers like Rumble and Meta.
Shares of Trump Media & Technology Group rallied to a six-week high Tuesday — with bitcoin approaching another record high and investors increasingly treating the social-media company as a cryptocurrency play.
CNBC's Martin Soong and Chery Kang discuss the Trump family's growing crypto holdings after Trump Media and Technology said it has amassed roughly $2 billion in bitcoin and related assets.
Trump Media (NASDAQ: DJT) surged at the opening bell on Monday after announcing that its Bitcoin treasury program has swelled to approximately $2 billion in combined holdings of Bitcoin and Bitcoin-related securities.
Trump Media's unique political angle and persistent retail interest create an asymmetrical risk-reward, enabling unpredictable rallies despite poor fundamentals. Short-term catalysts include crypto-related developments, ETF approval prospects, and a stable technical floor supported by strong on-balance-volume metrics. High short interest and a committed shareholder base set the stage for a potential short squeeze if triggers materialize.
The U.S. will charge a 30% tariff on the European Union and Mexico effective Aug. 1, President Trump said in letters to the leaders of each trading partner, posted on Truth Social on Saturday morning.
Several notable stocks, associated with everything from President Trump to pasta dinners, are significantly boosting their buybacks. Together, these newly announced programs add over $10 billion in fresh repurchase capacity to the stock market.
Trump Media Stock is back to its starting point once again. Virtually all the gains are gone from the pre-merger January 2024 announcement low of about $17.50.