Trump Media & Technology Group (NASDAQ:DJT) Shares Gap Down – Should You Sell?

Trump Media & Technology Group Corp. (NASDAQ:DJT)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $42.91, but opened at $39.34. Trump Media & Technology Group shares last traded at $40.91, with a volume of 8,357,289 shares.

Trump Media & Technology Group Trading Down 7.1 %

The stock’s fifty day simple moving average is $33.70 and its 200-day simple moving average is $28.57. The company has a current ratio of 47.49, a quick ratio of 47.49 and a debt-to-equity ratio of 0.01.

Insider Activity

In other news, General Counsel Scott Glabe sold 15,917 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $32.19, for a total value of $512,368.23. Following the sale, the general counsel now directly owns 336,576 shares in the company, valued at approximately $10,834,381.44. This trade represents a 4.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Phillip Juhan sold 320,000 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $30.65, for a total transaction of $9,808,000.00. Following the completion of the sale, the chief financial officer now owns 329,798 shares in the company, valued at $10,108,308.70. The trade was a 49.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 536,100 shares of company stock worth $16,274,894. 14.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Tsfg LLC purchased a new position in shares of Trump Media & Technology Group in the 4th quarter valued at $31,000. Rakuten Securities Inc. purchased a new position in shares of Trump Media & Technology Group in the 3rd quarter valued at $27,000. Larson Financial Group LLC purchased a new position in shares of Trump Media & Technology Group in the 3rd quarter valued at $30,000. Moisand Fitzgerald Tamayo LLC purchased a new position in shares of Trump Media & Technology Group in the 3rd quarter valued at $34,000. Finally, MetLife Investment Management LLC purchased a new position in shares of Trump Media & Technology Group in the 3rd quarter valued at $43,000. 4.29% of the stock is owned by hedge funds and other 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.