Trump Media & Technology Group (NASDAQ:DJT) Stock Price Down 9.5% – Here’s What Happened

Trump Media & Technology Group Corp. (NASDAQ:DJT)’s stock price dropped 9.5% during mid-day trading on Tuesday . The company traded as low as $30.11 and last traded at $30.25. Approximately 14,119,774 shares changed hands during trading, a decline of 10% from the average daily volume of 15,732,683 shares. The stock had previously closed at $33.41.

Trump Media & Technology Group Stock Down 8.8 %

The company has a current ratio of 47.49, a quick ratio of 24.73 and a debt-to-equity ratio of 0.01. The business’s 50-day moving average price is $24.36 and its 200 day moving average price is $31.89.

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

Insider Activity

In other Trump Media & Technology Group news, COO Andrew Northwall sold 3,467 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $22.70, for a total transaction of $78,700.90. Following the completion of the transaction, the chief operating officer now owns 16,533 shares of the company’s stock, valued at $375,299.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, COO Andrew Northwall sold 3,467 shares of the company’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $22.70, for a total transaction of $78,700.90. Following the completion of the sale, the chief operating officer now directly owns 16,533 shares in the company, valued at $375,299.10. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CTO Vladimir Novachki sold 7,801 shares of Trump Media & Technology Group 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 $177,082.70. Following the completion of the sale, the chief technology officer now owns 37,199 shares of the company’s stock, valued at $844,417.30. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 128,138 shares of company stock valued at $2,908,733 in the last 90 days. 14.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Trump Media & Technology Group

A number of hedge funds have recently modified their holdings of DJT. Charles Schwab Investment Management Inc. purchased a new position in Trump Media & Technology Group in the third quarter valued at $9,564,000. Avior Wealth Management LLC purchased a new stake in shares of Trump Media & Technology Group in the third quarter valued at $79,000. Archer Investment Corp acquired a new position in Trump Media & Technology Group during the 3rd quarter worth $48,000. Huntington National Bank bought a new stake in Trump Media & Technology Group during the third quarter worth approximately $51,000. Finally, Rakuten Securities Inc. bought a new stake in shares of Trump Media & Technology Group in the third quarter valued at about $27,000. Hedge funds and other institutional investors own 4.29% of the company’s stock.

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.