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.
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Trump Media, the parent of President Donald Trump's social-media platform Truth Social, announced a $400 million stock-repurchase program, which could reduce the number of shares outstanding by 10%.
Trump Media & Technology Group Corp (NASDAQ:DJT), the company behind the Truth social media platform, majority-owned by US President Donald Trump, announced that its board of directors has authorized an up to $400 million stock buyback. This repurchase may include both common stock and warrants, conducted through open market transactions, with all repurchased shares to be retired by the company.
Trump Media approves $400 million stock buyback
Trump Media & Technology Group Corp (NASDAQ:DJT), the company behind president Donald Trump's social media platform Truth Social, has filed for approval of a spot Bitcoin ETF with the Securities and Exchange Commission (SEC). This ETF aims to hold Bitcoin directly and offer shares to investors that reflect Bitcoin's price performance, providing a straightforward way for retail and institutional investors to gain exposure to Bitcoin without owning the cryptocurrency itself.
I'm initiating a buy on Trump Media & Technology Group Corp. due to its oversold technical setup and potential for a near-term bounce as sentiment stabilizes. Despite limited fundamentals and high volatility, I see the stock's current price as an attractive entry, especially with support at $19-$20. Trump Media's pivot to Bitcoin and blockchain, while risky, aligns with its core audience and could create new monetization opportunities.