Trump Media & Technology Group (NASDAQ:DJT) Stock Sees Heavy Put Option Buying

Trump Media & Technology Group Corp. (NASDAQ:DJT) saw unusually large options trading activity on Thursday. Stock investors bought 30,315 put options on the stock. This represents an increase of approximately 56% compared to the average daily volume of 19,492 put options.

Key Headlines Impacting Trump Media & Technology Group

Here are the key news stories impacting Trump Media & Technology Group this week:

• Neutral Sentiment: Trump Media and TAE Technologies filed an amended registration statement for their proposed merger, a step in advancing the transaction. The filing does not by itself ensure completion or establish the merger’s eventual value to DJT shareholders. Trump Media and TAE Technologies file amended merger registration
• Neutral Sentiment: A reported transfer of 4,259 bitcoin is close in size to collateral pledged for a loan. The headline raises questions about the relationship between the transfer and the collateral, but provides no clear indication of an immediate financial impact on the company. Trump Media Bitcoin transfer and pledged loan collateral
• Negative Sentiment: Democrats’ midterm gains and control of Congress prompted a sharp decline in DJT shares. Coverage cited investor concerns about the political outlook and possible congressional scrutiny; the sell-off also reduced the value of Donald Trump’s stake. Trump Media stock plunges after midterms
• Negative Sentiment: Reports described the stock hitting record lows amid the post-election turmoil, adding to concerns about its steep decline and weakened market valuation. Trump Media stock hits record low amid post-election turmoil

Hedge Funds Weigh In On Trump Media & Technology Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new position in Trump Media & Technology Group during the second quarter valued at approximately $101,684,000. State Street Corp raised its holdings in Trump Media & Technology Group by 32.0% in the second quarter. State Street Corp now owns 4,191,672 shares of the company’s stock worth $32,444,000 after purchasing an additional 1,015,305 shares during the period. Yorkville Advisors Global LP acquired a new stake in Trump Media & Technology Group in the second quarter worth $17,618,903. Anson Funds Management LP acquired a new stake in Trump Media & Technology Group in the first quarter worth $6,598,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Trump Media & Technology Group during the second quarter worth $4,047,000. Institutional investors own 4.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on DJT shares. Weiss Ratings lowered shares of Trump Media & Technology Group from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, September 2nd. Wall Street Zen cut shares of Trump Media & Technology Group from a “sell” rating to a “strong sell” rating in a research note on Sunday. One research analyst has rated the stock with a Sell rating. According to MarketBeat, Trump Media & Technology Group currently has a consensus rating of “Sell”.

Trump Media & Technology Group Stock Down 10.8%

Shares of Trump Media & Technology Group stock traded down $0.48 during trading on Thursday, reaching $4.01. 10,022,536 shares of the company were exchanged, compared to its average volume of 4,382,401. Trump Media & Technology Group has a twelve month low of $3.80 and a twelve month high of $17.09. The business has a 50-day moving average price of $8.05 and a 200-day moving average price of $9.23. The firm has a market capitalization of $1.11 billion, a price-to-earnings ratio of -0.82 and a beta of 1.35.

About Trump Media & Technology Group

Trump Media & Technology Group Corp. is a media and technology company focused on developing social media, streaming and other digital services. Its principal platform is Truth Social, a social networking service that enables users to create posts, follow accounts and participate in online discussions.

The company also operates Truth+, a streaming platform offering video content, including news and entertainment programming. TMTG has additionally announced plans to develop Truth.Fi, a financial services and technology initiative intended to include products such as separately managed accounts, exchange-traded funds and other investment-related offerings.