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Trump Media: Excitement Set To Slump

Updated - May 21, 2024

Trump Media & Technology Group actually reported a dip in revenues for Q1. In addition, the media company nearly listed more retail shareholders than revenues. Truth Social continues to have virtually no business, yet the stock only slumped to $44. 

  • Revenues fell to $770,500 from a year-ago $1.116M, and those sales largely came from the company's "nascent advertising initiative, which will continue to evolve as TMTG implements its vision," the company said.
  • Successfully Debuted as Public Company, and Now Has Over 621,000 Retail Shareholders.

Finviz Chart

Updated - April 8 

As expected, Trump Media is slumping after an initial burst following the consummation of the SPAC merger with Digital World. DJT is already down 50% from the initial highs. 

Finviz Chart

Original article published on April 2 

  • Trump Media & Technology Group Corp. completed its SPAC deal with Digital World Acquisition Corp, but shareholders now face major risks with the stock market shifting focus away from SPAC promises.
  • The business has done very little since launching in early 2021, with total 2023 revenue of only $4.1 million.
  • The stock has a fully diluted valuation of up to $10 billion despite weak financials and limited sings of innovation.
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After a very lengthy process and a difficult road, Trump Media & Technology Group Corp., or TMTG, (NASDAQ:DJT) finally completed the SPAC deal with Digital World Acquisition Corp. As with most SPACs after completing business combinations, shareholders in the social media company now face major risks with the stock market shifting focus away from SPAC promises to the reality of the limited business in place. My investment thesis remains ultra Bearish with the stock still trading at nearly $50 despite updating the market with weak 2023 numbers and not providing much hope for 2024.

Read the full article on Seeking Alpha. 

Disclosure: No position mentioned. Please review the disclaimer page for more details. 


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