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Trump Media: Election Results Won't Drive The Business

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 Update - Nov. 21, 2024

The problem with Trump Media raising a bunch of cash is that management doesn't have any clear plans for building the media company. Now signs continue to suggest Trump Media is moving into the crypto segment via either building a crypto payment platform, or the purchase of Bakkt Holdings (BKKT).

-Trump Media & Technology has recently filed a trademark application with plans to establish a cryptocurrency payment platform.

-A report in The New York Times said that the Nov. 18 application from the parent company of social media platform Truth Social is looking to trademark the name TRUTHFI.

Finviz Chart

Original article posted on Nov. 6

  • Trump Media & Technology Group Corp. stock rallied on Donald Trump winning the While House again, but the business fundamentals remain weak with no meaningful improvements.
  • The media company reported weak Q3 '24 results with minimal revenues.
  • The company lacks a clear business plan and unique offerings, with Truth Social and Truth+ failing to differentiate from existing platforms.
  • The stock has no real value beyond the cash balance due to the lack of a visible plan for generating profits in the future.
As investors were previously warned, Trump Media & Technology Group Corp. (NASDAQ:DJT) would sell off into the lock-up expiration. Investors were also notified after this occurred that plenty of stocks hit lows and quickly bounced. My investment thesis remains ultra-Bearish on the stock following the unexpected size of the rebound heading into the U.S. Presidential election, along with another weak quarter.

Read the full article on Seeking Alpha. 

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

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