By George Glover
Trump Media & Technology Group stock was racking up more gains on Monday -- but don't expect this rally to last much longer, judging by some of the wild moves shares have made this year.
Trump Media, which trades under the ticker DJT in reference to President Donald Trump's initials, jumped 5.2% to $16.93 ahead of the opening bell. It was the second-most traded stock by total volume in the premarket, behind chip maker Nvidia.
DJT surged 42% on Thursday, netting the Trump family more than half a billion dollars in a single trading session. It rose another 8.3% on Friday, powered higher by investor excitement about the Truth Social parent's unusual merger with nuclear fusion company TAE Technologies. The two companies are combining in an all-stock deal valued at more than $6 billion, to build fusion power plants that will supply electricity for artificial intelligence.
Investors should be wary. Zero Wall Street analysts cover Trump Media right now. The company's big bet on Bitcoin already appears to have gone sour, and it reported a net loss of $54.8 million over the third quarter. Shares are still down 53% for the year despite the recent rally.
There's also plenty of uncertainty about the future of nuclear fusion. Barron's argued last week that the most likely outcome is that the stock's gains fade as timelines for fusion technology get stretched out, costs rise, profits prove elusive, and capital gets harder to raise.
It's not like the shares have ever traded on Trump Media's underlying fundamentals: They tended to serve as a proxy for Trump's popularity in the run-up to the 2024 presidential election, before giving up all of those gains.
So DJT stock might still make sense for any day traders looking to trade off the volatility -- but investors planning for the longer-term should tread carefully.
Write to George Glover at george.glover@dowjones.com
This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
December 22, 2025 08:31 ET (13:31 GMT)
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