Trump's media company shares rise after stellar debut

Reuters03-27

March 27 (Reuters) - Shares of Trump Media & Technology Group rose 11% in premarket trading on Wednesday, a day after their stellar debut.

It was the third most-trending stock on retail trader-focused trading platform Stocktwits and the 10th most-traded on the Nasdaq at 7 a.m. ET, according to LSEG data.

The rise underscores the popularity of Donald Trump driving investor interest, but the platform Truth Social would need to show strong user growth to sustain the trajectory, analysts said.

"There is likely to be significant volatility ahead as a share buying frenzy among his supporters may wane, and investors dig deeper into the fundamentals," said Susannah Streeter, head of money and markets at Hargreaves Lansdown.

TMTG, the company formed after merger with blank-check firm Digital World Acquisition Corp, gained 16% to end at $57.99 on Tuesday.

The stock climbed to a record high of $79.38 before ending near the lower end of the price swing that day, valuing the firm at nearly $8 billion. It currently trades at $64.37 a piece.

Truth Social has 8.9 million signups, according to a regulatory filing on Feb. 14, and does not break down the active users figure.

In comparison, X had 238 million daily active users as of June 2022, as per the latest available official data, while Facebook and Reddit had 2.1 billion and 73 million, respectively.

Digital World and the newly listed TMTG have surged about 600% since their merger was announced in 2021, cementing TMTG's status as one of Wall Street's so-called meme stocks.

(Reporting by Yuvraj Malik in Bengaluru)

((yuvraj.malik@thomsonreuters.com;))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2422796772?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-03-27 19:34","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2422796772","market":"us","top_or_hot":-1,"title":"Trump's media company shares rise after stellar debut","media":"Reuters","content":"<html><body><p>March 27 (Reuters) - Shares of Trump Media &amp; Technology Group    rose 11% in premarket trading on Wednesday, a day after their stellar debut.</p><p>   It was the third most-trending stock on retail trader-focused trading platform Stocktwits and the 10th most-traded on the Nasdaq at 7 a.m. ET, according to LSEG data.</p><p>   The rise underscores the popularity of Donald Trump driving investor interest, but the platform Truth Social would need to show strong user growth to sustain the trajectory, analysts said.</p><p>   \"There is likely to be significant volatility ahead as a share buying frenzy among his supporters may wane, and investors dig deeper into the fundamentals,\" said Susannah Streeter, head of money and markets at Hargreaves Lansdown.</p><p>   TMTG, the company formed after merger with blank-check firm <a href=\"https://laohu8.com/S/DWAC\">Digital World Acquisition Corp</a>, gained 16% to end at $57.99 on Tuesday.</p><p>   The stock climbed to a record high of $79.38 before ending near the lower end of the price swing that day, valuing the firm at nearly $8 billion. It currently trades at $64.37 a piece.</p><p>   Truth Social has 8.9 million signups, according to a regulatory filing on Feb. 14, and does not break down the active users figure. </p><p>   In comparison, X had 238 million daily active users as of June 2022, as per the latest available official data, while Facebook and <a href=\"https://laohu8.com/S/RDDT\">Reddit</a> had 2.1 billion and 73 million, respectively.</p><p>   Digital World and the newly listed TMTG have surged about 600% since their merger was announced in 2021, cementing TMTG's status as one of Wall Street's so-called meme stocks.</p><p> (Reporting by Yuvraj Malik in Bengaluru)</p><p>((yuvraj.malik@thomsonreuters.com;))</p></body></html>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Trump's media company shares rise after stellar debut</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTrump's media company shares rise after stellar debut\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-03-27 19:34 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1><strong>Reuters</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>March 27 (Reuters) - Shares of Trump Media & Technology Group    rose 11% in premarket trading on Wednesday, a day after their stellar debut.   It was the third most-trending stock on retail trader-...</p>\n\n<a href=\"https://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4516","symbol_name":"特朗普概念","start_time":0,"source_url":"https://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1","article_id":"2422796772","we_media_id":"1036604489","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2422796772","pubTimestamp":1711539252,"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"summary":"March 27 (Reuters) - Shares of Trump Media & Technology Group    rose 11% in premarket trading on Wednesday, a day after their stellar debut.   It was the third most-trending stock on retail trader-fo","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4516":"特朗普概念","DJT":"特朗普媒体科技集团","BK4585":"ETF&股票定投概念","BK4588":"碎股"},"translate_title":"特朗普的媒体公司股价在首次亮相后上涨","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"DJT":0.9,"DWAC":0.9},"content_text":"March 27 (Reuters) - Shares of Trump Media & Technology Group    rose 11% in premarket trading on Wednesday, a day after their stellar debut.   It was the third most-trending stock on retail trader-focused trading platform Stocktwits and the 10th most-traded on the Nasdaq at 7 a.m. ET, according to LSEG data.   The rise underscores the popularity of Donald Trump driving investor interest, but the platform Truth Social would need to show strong user growth to sustain the trajectory, analysts said.   \"There is likely to be significant volatility ahead as a share buying frenzy among his supporters may wane, and investors dig deeper into the fundamentals,\" said Susannah Streeter, head of money and markets at Hargreaves Lansdown.   TMTG, the company formed after merger with blank-check firm Digital World Acquisition Corp, gained 16% to end at $57.99 on Tuesday.   The stock climbed to a record high of $79.38 before ending near the lower end of the price swing that day, valuing the firm at nearly $8 billion. It currently trades at $64.37 a piece.   Truth Social has 8.9 million signups, according to a regulatory filing on Feb. 14, and does not break down the active users figure.    In comparison, X had 238 million daily active users as of June 2022, as per the latest available official data, while Facebook and Reddit had 2.1 billion and 73 million, respectively.   Digital World and the newly listed TMTG have surged about 600% since their merger was announced in 2021, cementing TMTG's status as one of Wall Street's so-called meme stocks. (Reporting by Yuvraj Malik in Bengaluru)((yuvraj.malik@thomsonreuters.com;))","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.2","shortVersion":"4.29.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2422796772"}