Trump Media & Technology Group (NASDAQ:DJT) Trading Down 10.8% – Here’s What Happened

Trump Media & Technology Group Corp. (NASDAQ:DJT)’s share price dropped 10.8% during mid-day trading on Thursday . The company traded as low as $34.41 and last traded at $35.70. Approximately 49,952,152 shares changed hands during trading, an increase of 305% from the average daily volume of 12,337,795 shares. The stock had previously closed at $40.03.

Trump Media & Technology Group Trading Down 10.2 %

The business has a 50-day simple moving average of $22.44 and a 200-day simple moving average of $31.84.

Trump Media & Technology Group (NASDAQ:DJT) last posted its earnings results on Friday, August 9th. The company reported ($0.10) earnings per share (EPS) for the quarter. The company had revenue of $0.84 million for the quarter.

Insider Transactions at Trump Media & Technology Group

In related news, General Counsel Scott Glabe sold 4,083 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $22.70, for a total transaction of $92,684.10. Following the completion of the sale, the general counsel now owns 15,917 shares in the company, valued at $361,315.90. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Trump Media & Technology Group news, CEO Devin G. Nunes sold 27,846 shares of Trump Media & Technology Group stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $22.70, for a total transaction of $632,104.20. Following the sale, the chief executive officer now owns 87,154 shares in the company, valued at $1,978,395.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Scott Glabe sold 4,083 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $22.70, for a total transaction of $92,684.10. Following the completion of the sale, the general counsel now directly owns 15,917 shares in the company, valued at $361,315.90. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 128,138 shares of company stock worth $2,908,733. Company insiders own 14.80% of the company’s stock.

Hedge Funds Weigh In On Trump Media & Technology Group

A number of hedge funds and other institutional investors have recently made changes to their positions in DJT. Moisand Fitzgerald Tamayo LLC acquired a new stake in Trump Media & Technology Group during the third quarter valued at approximately $34,000. Allworth Financial LP bought a new stake in Trump Media & Technology Group during the third quarter worth about $48,000. Amalgamated Bank bought a new stake in Trump Media & Technology Group during the 3rd quarter worth approximately $58,000. Avondale Wealth Management acquired a new stake in Trump Media & Technology Group during the 3rd quarter valued at $64,000. Finally, CWM LLC bought a new position in Trump Media & Technology Group in the 3rd quarter valued at $66,000. 4.29% of the stock is owned by institutional investors.

About Trump Media & Technology Group

Trump Media & Technology Group Corp. develops a social media platform known as Truth Social that offers social networking services in the United States. The company was founded in 2021 and is based in Sarasota, Florida.