Trump Media & Technology Group's stock had risen amid talk of a deal to buy cryptocurrency-centered company Bakkt.
Investors have appeared unsure over the future of DJT stock after Donald Trump's election win.
Donald Trump will certainly be the next President of the United States, but the fate of his latest venture, Trump Media & Technology Group (NASDAQ: DJT) is less clear.
Policy uncertainty could boost the precious metal over the next 13 months, the bank said in a research note Sunday.
Some insiders have been selling Trump Media stock, but what's Donald Trump doing?
Yes, the "Trump" name remains, but DJT's brand valuation is slipping. No longer does Donald Trump need Truth Social for communication or DJT stock for clout.
Trump Media & Technology Group's key shareholder, ARC Global Investments, has unloaded nearly all its stake in the media company, it said in a regulatory filing on Thursday.
There's been strong volume for the closely watched Trump Media & Technology stock, but no big pops after Election Day.
As one of the most volatile stocks of 2024, Trump Media (NASDAQ: DJT) has experienced wild price swings throughout the year. The budding media business's stock price hasn't correlated with fundamentals at all — instead, it largely reflected public perception of Donald Trump, particularly with regard to his now-successful bid for the White House.
Shares fell 5% Wednesday after reports that insiders will start selling stock.
Phillip Juhan, chief financial officer of Trump Media, recently sold nearly $12 million worth of stock in the company, which operates the Truth Social app. Two other corporate insiders, general counsel Glabe Scott and director Eric Swider, also sold shares of DJT.
About $300 million was erased from Donald Trump's net worth after shares of Trump Media & Technology Group fell by 8% on Tuesday, as trading in the Truth Social parent has declined since surging after Trump's election victory last week.