High-frequency trading firms are paying up to $100,000 a month for a direct API feed to President Trump’s Truth Social posts, according to Wall Street Journal reporting discussed on CNBC Friday morning. Gunjan Banerji, the Journal’s lead markets writer, walked through the mechanics of the arrangement and explained why algorithmic traders view the fee as a cost of doing business rather than a discretionary spend.
The service routes posts from Trump Media & Technology Group (NASDAQ:DJT) to subscribing firms through a low-latency data pipe. Trump Media says every post remains available to the public at the same moment it is delivered to paying clients, so the debate centers on how quickly each recipient can actually process the message and route trades to exchanges.
Why Nanoseconds Translate Into Dollars Banerji framed the stakes in the smallest possible time unit. “For the high frequency traders, the types of firms that are subscribing to this data, nanoseconds matter. We’re talking billionths of a second can make a difference in terms of their profits or losses,” she said. Algorithmic desks that trade equities, Treasury futures, currency pairs, and index derivatives can capture or lose meaningful spreads on a single Trump statement about tariffs, sanctions, or personnel.
The market has repeatedly demonstrated that sensitivity. In April 2025, Trump posted “THIS IS A GREAT TIME TO BUY!!!” on Truth Social hours before announcing a 90-day tariff pause, and stocks surged on the follow-up news. Traders who read the initial post ahead of the tape captured the move. Firms that saw it later paid a worse price.
The Wall Street vs. Main Street Question Banerji’s second point tied the pricing structure to a broader market-fairness issue. “This could shift the balance of power further towards Wall Street and away from many Main Street investors who might want to trade on this data,” she said. Retail investors watching Truth Social through the free consumer app receive the same words, only after the algorithms have already positioned around them.
The CNBC host highlighted the unprecedented layer. “Historically, when presidents or other federal officials have put news out, they also haven’t owned the device with which people are going to pay to get the milliseconds of news ahead of time,” he noted. Trump Media is controlled by the sitting president, which distinguishes the arrangement from feeds sold by neutral venues such as the NYSE or NASDAQ.
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“No Choice” for the Subscribers Traders told the Journal that opting out would leave them behind competitors already on the feed. “We haven’t had a president who’s profiting from these payments before. But then they went on to say, look, we have to do this. We have no choice but to subscribe to this feed if we want to keep up with our competitors,” Banerji said. The dynamic mirrors how HFT shops treat exchange colocation and proprietary market-data products, where sitting out is the same as paying to lose.
Lawmaker Pushback Several Democratic senators have raised concerns. “Senator Warner of Virginia said this amounts to self-dealing by the president. He said this creates a two-tiered system for market data. Elizabeth Warren has spoken out against it. So has Chuck Schumer,” the host said. Warner, Warren, and Schumer have publicly flagged potential emoluments clause and market-structure issues, though no court or regulator has ruled that any law has been violated.
Trump Media’s counter is that simultaneity of publication removes the legal problem: everyone technically receives the post at the same instant, and firms are paying for delivery infrastructure rather than exclusive content. Details of the offering, including subscriber counts and contract terms, have been disclosed in company communications and can be tracked through Trump Media’s filings with the SEC.
For investors, the open question is whether the venture can sustainably monetize presidential communications and whether Congress or regulators eventually restrict the model. The commercial logic is straightforward. The governance question remains unresolved.
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Plus, the U.S. gives the president more muscular military options as he considers expanding the Iran war, and we go inside Taco Bell's rush to contain cyclospora.
Financial markets run on speed, often pricing in geopolitical shifts fractions of a second before standard retail feeds register a headline. For high-frequency trading firms and quantitative hedge funds, paying a steep premium for a latency advantage can be a required cost of doing business.
Trump Media & Technology Group Today
DJT
Trump Media & Technology Group
$9.14 -0.69 (-6.98%)
As of 03:39 PM Eastern
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52-Week Range$6.96▼
$20.17 Trump Media & Technology Group NASDAQ: DJT plans to launch Truth API—a licensed data feed that will automatically deliver verified Truth Social posts to institutional customers in milliseconds—on Aug. 1, 2026.
The prevailing narrative surrounding Trump Media historically centers on its consumer-facing social network and the associated retail user base.
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The fundamental reality of operating an advertising-supported consumer platform has proven exceptionally challenging in the current macroeconomic environment.
Building an infrastructure to support millions of free users requires immense capital, often leading to severe margin compression before a platform ever achieves true scale.
Trading Pennies in Ad Spend for Six-Figure ContractsEvaluating Trump Media through a traditional fundamental lens requires addressing the immediate financial metrics.
Trump Media generated $3.68 million in total revenue during 2025, with first-quarter 2026 revenue coming in just over $870,000. The trailing 12-month net margin is deeply negative at 29,103%, which is difficult to interpret, given the company’s unusually small revenue base and the fact that its 2025 loss included substantial investment-related losses. Valuing an enterprise with a $2.6 billion market capitalization against those distinct sales figures yields a price-to-sales ratio that defies standard value investing principles.
The Truth API marks a structural pivot aimed at rectifying those exact metrics. Instead of chasing fractions of a cent in retail ad spend, Trump Media is adding an enterprise software-as-a-service model. The machine-readable feed will give institutional clients machine-readable access to posts from 10 influential Truth Social accounts within milliseconds of publication. The service will reportedly cost up to $100,000 per month, or $60,000 per month with a three-year commitment.
The unit economics here could materially alter the fundamental outlook for Trump Media. Securing just four enterprise clients at the premium tier would yield $4.8 million annually, instantly outpacing the entire gross revenue Trump Media generated in 2025. This could redefine the path to profitability, shifting the focus away from mass-audience acquisition toward specialized B2B data licensing.
High Beta Meets High-Margin Revenue GrowthPricing market-moving information requires historical context. A Truth Social post regarding international tariffs in April 2025 triggered a 9.5% single-day rally in the broader index, while statements on U.S.-Iran relations in March 2026 caused immediate price dislocations in the crude oil market. Algorithms executing trades milliseconds ahead of standard public feeds form the core value proposition for prospective Truth API buyers.
Trump Media & Technology Group Corp. (DJT) Price Chart for Wednesday, July, 22, 2026
Trump Media currently trades around $9.40. Trading dynamics reveal a high beta of 4.10, indicating DJT moves with over four times the volatility of the broader market.
This metric pairs with a heavily bearish short-interest profile. When fundamental shifts occur in highly shorted equities, the mechanics for a sharp upside price dislocation become a distinct possibility. If the upcoming API launch produces material revenue news, it could force short sellers to cover their positions and the resulting buy-side pressure could be aggressive.
Trump Media also authorized a $400 million share repurchase program in June 2025, permitting the buyback of up to 10.2% of outstanding shares at the time. This authorization acts as a potential floor against further margin compression, providing potential capital support just as the new revenue model comes online.
Current top-tier institutional positioning remains negligible at around 4.3%, with funds like Handelsbanken Fonder AB holding just 0.02% of shares. Demonstrating repeatable enterprise software revenue is often the primary vehicle for attracting broader institutional capital, which could help stabilize a volatile shareholder base over the long term.
Mitigating Digital Risks With Hard Asset InvestmentsEvaluating a specialized data provider requires a critical look at the underlying asset. The inherent vulnerability for Trump Media is key-person concentration risk. The API's demand elasticity relies on one specific account continuing to bypass standard press channels in favor of exclusive social media disclosures. If regulatory interventions or ethics litigation compel simultaneous public disclosure of presidential policies, the latency edge could narrow or disappear.
Trump Media appears to recognize these structural vulnerabilities and is actively deploying capital to offset them. Recent corporate announcements confirm the settlement of critical legacy legal disputes, reducing legal uncertainty.
More critically, emerging reports indicate an aggressive capital deployment strategy outside the digital media sector, specifically eyeing nuclear energy investments. Trump Media has agreed to an all-stock merger with fusion developer TAE Technologies. The transaction remains pending, but if completed, it would move the company well beyond digital media. It would, however, add significant execution, financing, and commercialization risk.
Diversifying into hard assets while operating a high-margin data licensing business creates a much more resilient financial profile than operating a standalone social media application.
Trump Media also recently transferred 2,650 Bitcoin, valued at nearly $205 million, to Crypto.com, reflecting a high-risk tolerance in treasury management that strays far from traditional cash equivalents.
Watching for Material Revenue ConfirmationAdding an institutional data feed to a consumer network is a complex endeavor.
Demand for a six-figure social media feed remains unproven, especially when comprehensive institutional data terminals from established financial data providers cost a fraction of the quoted price for the Truth API. Quantitative funds will rigorously test the feed's latency against traditional scraping methods before committing to long-term enterprise contracts.
The optionality embedded in the Trump Media data extends well beyond immediate trading latency. Trump Media indicated an intent to explore licensing the platform's historical text archives to artificial intelligence (AI) developers. Training large language models requires vast amounts of proprietary conversational data, creating an additional scalable revenue stream not tied solely to daily market volatility.
If Trump Media packages its archives for AI model training, the total addressable market expands well beyond the specialized high-frequency trading niche.
Investors might consider watching for evidence that the Truth API can produce material, repeatable revenue in upcoming quarterly filings. Disclosed contract values, enterprise customer acquisition rates, and any materialized AI licensing agreements offer the clearest evidence that Trump Media is building a scalable business.
Cautious market participants may prefer to wait for official revenue confirmation from the API launch before allocating capital, while those with a higher risk tolerance may want to closely monitor the mechanics of underlying volatility as the August rollout approaches.
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A ‘Scheme Hiding in Plain Sight’Taking to X in a recent video post, Scaramucci called the initiative a "scheme hiding in plain sight, and almost no one’s talking about it."
He directly accused the company of facilitating an uneven playing field for the financial sector at the direct expense of regular traders. "Truth Social is going to sell hedge fund managers millisecond advantages on Trump’s tweets so that they can front-run other people’s trades," Scaramucci warned.
Not a Loophole, But a FeatureInterim CEO Kevin McGurn embraced the platform’s financial influence as a selling point, stating, “Markets already move on Truth Social posts.” He added that the API advances their strategy to monetize assets through a “high-margin, recurring revenue stream.”
However, Scaramucci emphasized that this inequity is entirely by design. "It’s not a loophole, it’s a business model, and we’ve got 30 months left to live with it," he wrote. Expressing sheer disbelief in his video, Scaramucci remarked, "It’s unbelievable what’s actually going on. So I find it like driving 30 months in a lemon of a car. Time, guys."
Benzinga has reached out to Trump Media & Technology Group for comment on Scaramucci’s allegations but did not receive an immediate response.
How Has DJT Performed In 2026?DJT shares were down 25.83% year-to-date, but 15.67% higher over the last month, and down 48.99% over the year. It closed up 0.82% at $9.82 per share on Tuesday, and it was 0.61% lower in overnight trading.
Benzinga’s Edge Stock Rankings indicate that DJT maintains a strong price trend in the short and medium terms but a weak trend in the long term.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: mundissima / Shutterstock
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July 19, 2026 18:00 ET | Source: Trump Media & Technology Group
SARASOTA, Fla., July 19, 2026 (GLOBE NEWSWIRE) -- Trump Media and Technology Group Corp. (Nasdaq, NYSE Texas: DJT), operator of the social media platform Truth Social, the streaming platform Truth+, and the FinTech brand Truth.Fi, announced today that all claims between and among individuals and entities including Trump Media, Patrick Orlando, and ARC Global Investments II LLC have been mutually resolved pursuant to a confidential settlement agreement.
About Trump Media & Technology Group
The mission of TMTG is to end Big Tech's assault on free speech by opening up the Internet and giving people their voices back. TMTG operates Truth Social, a social media platform established as a safe harbor for free expression amid increasingly harsh censorship by Big Tech corporations; Truth+, a TV streaming platform focusing on family friendly live TV channels and on-demand content; and Truth.Fi, a financial services and FinTech brand incorporating America First investment vehicles.
Wall Street banks and trading firms will soon receive President Donald Trump’s musings within milliseconds, as the parent company of Truth Social announced a new service on Thursday that’s targeted toward paying institutional clients.
Trump Media & Technology Group will launch a licensed data feed, which it’s calling Truth API, to deliver “the fastest access” to posts from the platform’s top 10 most-influential accounts for paying customers. The Sarasota, Florida-based company, which counts the president’s family as its largest shareholders, has already signed up customers ahead of an expected launch of the new service on August 1, according to a statement.
APIs, or application programming interfaces, are a common offering among other social-media platforms like X and Reddit. Hedge funds and other Wall Street firms will pay for these feeds in an effort to gain an edge on market-moving information posted by users before it’s available online, as CNBC noted.
“Markets already move on Truth Social posts,” Kevin McGurn, interim CEO of Trump Media & Technology Group, said in the statement. “Truth API delivers a direct, licensed, real-time feed of the platform’s most market-moving Truths.”
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Though the announcement didn’t specifically mention the president, he’s by far the most popular account on Truth Social, with 12.9 million followers. Other members of his administration with large followings and who are frequent posters include Vice President JD Vance, FBI Director Kash Patel, and Health Secretary Robert F. Kennedy Jr.
A spokesperson for Trump Media & Technology Group didn’t immediately respond to a request for comment from Fast Company regarding the companies that have already signed up for the service, nor the cost. McGurn told Axios that customers include financial news organizations and high-frequency trading firms, without specifying the names.
Of course, the information is already available, albeit via clunkier—and potentially slower—methods. Firms have been scraping this information for months, which McGurn told Axios is in violation of the company’s terms of service. “We’re going to create a lot of friction for those folks that aren’t coming to us directly,” he told the outlet.
HomeEconomy & Politics‘Truth API’ will be available to institutional customers starting next monthJuly 16, 2026, 2:35 p.m. ET
Donald Trump’s media company wants traders and investors to pay for “the fastest” access to posts from Truth Social accounts like the president’s own, which often moves markets.
Trump Media & Technology Group DJT said Thursday that it’s planning to launch a feed giving real-time access to the highest-ranking Truth Social accounts. Trump frequently uses his account to post policy decisions and comments that impact equity and energy markets.
About the Author
Robert Schroeder is the Washington bureau chief for MarketWatch. Follow him on X @mktwrobs.
The company behind social-media network Truth Social is launching a service that will give paying customers interested in market-moving information "licensed, real-time access" to posts from President Donald Trump and other top accounts, the company said Thursday.
Trump's family is the largest shareholder Trump Media & Technology Group, the public company that operates Truth Social. The president's @realDonaldTrump account is the largest account on Truth Social, according to a 2025 survey by SEO.ai. His account had 12.9 million followers on Thursday morning. Trump regularly posts official communications first on Truth Social, making his account a must-follow for Wall Street firms and news organizations that track the presidency.
Trump Media didn't mention the president in its press release announcing the service, known as an API, or Application Programming Interface. But it nodded to potential interest by Wall Street firms. "Markets already move on Truth Social posts," Kevin McGurn, Trump Media's interim chief executive officer, said in the release.
Read more on Trump investmentsTrump bought as much as $5 million in Axon stock before ICE sought $220 million Taser dealCompany that bet big on Trump-backed crypto says its fortunes have improvedTrump family got about $500M from crypto venture — but investors saw steep lossesTrump Jr. calls banking a 'Ponzi scheme' that forced family to create crypto businessThe Trump family crypto empire looks to Asia: Eric Trump talks Bitcoin in Hong KongTrump family says U.S. dollar needs an upgrade and they are the ones to do itThe White House didn't respond to an email about the announcement but forwarded CNBC's message to the Trump Organization, which declined to comment.
Trump Media didn't immediately respond to an email with follow-up questions.
"It's a huge conflict of interest," said Virginia Canter, an ethics attorney with Democracy Defenders Fund, a nonprofit organization that has been critical of the Trump administration. "He has an obligation to the American people to convey information to them publicly, and he's now funneling it through a private channel in which he has a private interest as one of its largest shareholders."
Truth Social has "become the de facto presidential press room," Canter said.
Trump Media is following a path blazed by other social networks, which also provide APIs to paying customers. Hedge funds and other Wall Street firms use low-latency feeds to gain an edge on market-moving information posted on social networks. They can use access to post archives to create algorithms that respond to sentiment and emerging trends.
But none of those other social networks are the primary outlet for official posts by the president of the U.S. Trump regularly posts updates on his decisions about the war with Iran and tariffs on Truth Social, among other issues.
Truth Social was launched in 2021 in response to decisions by X and Facebook to ban Trump's account in the wake of the Jan. 6, 2021, Capitol riot. He has since been reinstated to both.
Trump Media went public through a blank-check merger and has traded on the Nasdaq exchange under the ticker DJT since March 26, 2024. Its shares are down 84% since then through Thursday morning, according to FactSet data.
Roughly 114 million shares, now amounting to 42% of Trump Media, were issued to Trump, according to Securities and Exchange Commission filings. On winning the presidency, he transferred those shares to a revocable trust in the name of his son Donald Trump Jr.
Workers straighten the Truth Social booth at the Great American State Fair celebrating the 250th anniversary of U.S. independence in Washington, D.C., U.S., July 2, 2026. REUTERS/Jonathan Ernst Purchase Licensing Rights, opens new tab
July 16 (Reuters) - Trump Media & Technology Group (DJT.O), opens new tab on Thursday launched Truth API, a licensed data feed that will provide financial services companies with "the fastest" access to posts from the highest-ranking Truth Social accounts.
The paid-for API (application programming interface) is aimed at giving "immediate, verified access to information" on Truth Social to organizations that prioritize tracking influential posts on the platform, the company said in a statement.
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"Until now... firms that prioritize tracking influential Truth posts have relied on manual monitoring. Truth API closes the gap," it said, adding that the feed is designed for businesses "most impacted by the cost of a delay in information" such as algorithmic trading firms.
The API will be significantly faster than scraping Truth Social data, Trump Media interim CEO Kevin McGurn said in an interview with Axios earlier in the day.
The product, available to enterprise customers starting August, is expected to create a new revenue stream for the company.
It will provide round-the-clock coverage of influential posts on Truth Social and include an archive of posts dating back to 2022.
Reporting by Deborah Sophia in Bengaluru; Editing by Shilpi Majumdar
Our Standards: The Thomson Reuters Trust Principles., opens new tab
That slide has translated into an estimated paper loss of roughly $766 million for Trump, who remains the beneficial owner of approximately 114.7 million DJT shares through the Donald J. Trump Revocable Trust.
Trump’s Billion-Dollar Stake ShrinksTrump controls about 52% of Trump Media through a revocable trust, in which he is the sole beneficiary. His eldest son, Donald Trump Jr., serves as trustee and exercises voting and investment authority over the shares.
At DJT’s Jan. 2 closing price of $13.77, Trump’s stake was worth approximately $1.58 billion. With the stock now trading at $7.09, that holding is valued at about $813 million.
While the losses remain unrealized unless shares are sold, the decline has erased roughly three-quarters of a billion dollars from the value of Trump’s publicly disclosed stake this year.
The company’s ownership structure has also evolved since its public listing in 2024. Trump’s ownership has declined from roughly 57% to about 52% following dilution and other corporate actions, though he remains by far the company’s largest shareholder.
Nearly $2 Billion In Market Value ErasedThe stock’s decline has weighed on the company’s overall valuation as well.
With approximately 276.95 million shares outstanding, Trump Media’s market capitalization has fallen from about $3.81 billion at the beginning of the year to roughly $1.96 billion today, wiping out nearly $1.85 billion in shareholder value.
Although Trump’s trust owns more than 114 million shares, the company’s public float stands at about 159.58 million shares, leaving a relatively limited supply of stock available for public trading.
Charts Show Bears Still In ControlThe technical picture remains weak.
Chart created using Benzinga Pro
DJT continues to trade below its eight-day, 20-day, 50-day and 200-day simple moving averages, which currently sit at $7.80, $8.23, $8.70 and $11.88, respectively. The alignment of those moving averages points to a sustained downtrend, with each serving as potential resistance should the stock attempt to rebound.
Momentum indicators also remain cautious. The Relative Strength Index (RSI) is hovering near 35, suggesting the stock is approaching oversold territory but has yet to reach levels that typically signal capitulation. Meanwhile, the Moving Average Convergence Divergence (MACD) indicator remains below its signal line, indicating bearish momentum is still intact.
The stock has also fallen steadily throughout the year, with no meaningful increase in buying volume, suggesting investors have yet to step in aggressively despite DJT trading at its lowest levels of 2026.
For now, both the charts and the shrinking value of Trump’s stake underscore the scale of the selloff facing Trump Media shareholders this year.
Photo courtesy: Shutterstock
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Trump Media Stock Hits All-Time Low—Down Almost 50% In 2026 Pequeño is a breaking news reporter who covers tech and more.
Jun 25, 2026, 03:54pm EDT
ToplineTrump Media & Technology Group shares fell over 6% on Thursday, reaching an all-time low as the company records substantial net losses and low revenue.
Trump owns a roughly 52% stake in TMTG.
Photo by Chip Somodevilla/Getty Images
Key FactsTrump Media’s stock dropped 6.1% to $7.05 about 20 minutes before market close Thursday, marking its sharpest drop of the week so far.
Shares of the Truth Social parent company have fallen over 46% since the start of the year, when they traded around the $13.77 mark.
This is a developing story. Check back for updates.
, /PRNewswire/ -- Yorkville America Equities LLC, the sponsor and investment adviser for the Truth Social Funds, today announced the official relaunch of the Truth Social God Bless America ETF (Ticker: YALL). The fund is the first actively managed fund in the suite.
The relaunch marks a strategic expansion of the Truth Social Funds suite, which is part of the Truth.Fi fintech brand from Trump Media & Technology Group Corp. (Nasdaq: DJT). While the fund has been rebranded, the core philosophy remains steadfast: the fund is built on a fundamental belief in American strength, values, and opportunity. The Truth Social God Bless America ETF continues to be managed by its founder, Adam Curran of Curran Financial Partners, ensuring complete continuity for existing and new shareholders and maintaining the America-First investment thesis that has guided the fund since its inception.
As the active management complement to the Truth Social Funds' index-tracking suite, YALL provides a seasoned, actively managed investment strategy with an established operating history for investing in companies that align with national priorities and domestic economic leadership.
"We are proud to welcome the God Bless America ETF into the Truth Social Funds family," said Steve Neamtz, CEO, Yorkville America Equities. "Adam Curran's America-First approach and proven track record align completely with our values and objectives for this platform."
"I'm incredibly proud to see the God Bless America ETF enter its next chapter with Yorkville America and the Truth Social Funds family," said Adam Curran, Portfolio Manager and Founder, Curran Financial Partners. "This fund was built on a belief in American strength, values, and opportunity — and it's exciting to align with partners who share and are expanding that vision."
Fund Details at a Glance:
Ticker: YALL
Listing Exchange: NYSE Arca
Expense Ratio: 0.65%
Distribution Frequency: Annual
Management Style: Active
About Yorkville America
Yorkville America is a Florida-based asset management firm, specializes in providing branded investment products centered around America First themed businesses. With extensive knowledge of capital markets and the securities industry, Yorkville America caters to the specific needs of its clients by offering tailored investment products. For more information, visit www.yorkvilleamerica.com.
About Yorkville America Equities
Yorkville America Equities LLC is a registered investment adviser focused on developing America First strategies. The firm seeks to deliver client-focused solutions that support U.S.-based companies aligned with national priorities. The firm only transacts business in states where it is properly notice filed or is excluded or exempted from registration requirements. Additional Important Disclosures may be found in our Form ADV Part 2A, which can be found at https://adviserinfo.sec.gov/firm/summary/336431.
About Trump Media & Technology Group
The mission of Trump Media is to end Big Tech's assault on free speech by opening the Internet and giving people their voices back. Trump Media operates Truth Social, a social media platform established as a safe harbor for free expression amid increasingly harsh censorship by Big Tech corporations; Truth+, a TV streaming platform focusing on family-friendly live TV channels and on-demand content; and Truth.Fi, a financial services and FinTech brand incorporating America First investment vehicles.
About Truth Social Funds
The Truth Social Funds are a newly launched suite of America First-themed exchange-traded funds (ETFs) designed to provide investors with exposure to U.S.-focused innovation, energy independence, national security, and domestic economic leadership. The ETFs are sponsored by Truth Social Funds and are advised by Yorkville America Equities. Learn more at www.truthsocialfunds.com.
About Curran Financial Partners
Curran Financial Partners is an independent, South Carolina-based financial services firm concentrating in comprehensive retirement and wealth planning for individuals and families. With experience in investment management, tax strategy, estate planning, and risk management, Curran Financial Partners delivers integrated financial solutions designed to help clients pursue long-term confidence and financial clarity. For more information, visit curranfinancialpartners.com.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements regarding the expected benefits, effects, timing, and completion of the acquisition, the future operations or performance of the God Bless America ETF, and the Trust's expectations regarding efficiencies, scale, or shareholder outcomes resulting from the transaction.
These statements are based on current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied. Such risks include, among others, market conditions, operational and regulatory risks, the ability to achieve anticipated efficiencies, changes in investment performance, and other risks described in the God Bless America ETF prospectus and statement of additional information. Forward-looking statements speak only as of the date made, and the Trust undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
An investor should consider the investment objectives, risks, charges, and expenses of the Fund carefully before investing. The prospectus and other applicable regulatory offering documents related to the God Bless America ETF contain this and other relevant information about the ETFs. For a free prospectus or a summary prospectus, which contains this and other important information about the fund, call (201) 985-8300 or visit www.truthsocialfunds.com. Read the prospectus carefully before investing.
An investment in ETFs involves risk, including possible loss of principal. Exchange-traded funds (ETFs) trade like stocks, are subject to investment risk, fluctuate in market value and may trade at prices above or below the ETF's net asset value (NAV), and are not individually redeemable directly with the ETFs. Brokerage commissions and ETF expenses will reduce returns. ETFs are subject to specific risks, depending on the nature of the underlying strategy of the ETF, which should be considered carefully when making investment decisions. For a complete description of the ETFs' principal investment risks, please refer to the prospectus.
Disclaimer
Management Risk. The Fund is actively managed and may not meet its investment objective based on Curran's success or failure in implementing investment strategies for the Fund. Curran's investment approach relies on the accuracy of information from various sources (e.g., social media), which information may prove to be incorrect or incomplete. As a result, any decisions made in reliance thereon expose the Fund to potential risks that, in turn, may negatively impact the Fund's performance.
This press release is provided for informational purposes only and does not constitute investment advice, an offer to sell, or a solicitation of an offer to buy any securities. Any references to investment products or strategies are for descriptive purposes only. Investing involves risk, including the possible loss of principal. Investors should consider the investment objectives, risks, charges, and expenses carefully before investing. A prospectus and, if applicable, a summary prospectus or statement of additional information contain this and other information and may be obtained from the issuer at www.truthsocialfunds.com/etfs or by phone (201) 985-8300. Please read these materials carefully before investing.
PINE Distributors LLC is the distributor of Truth Social ETFs. Yorkville America Equities LLC is the investment adviser of the Truth Social ETFs and Tuttle Capital Management, LLC serves as the sub-adviser of the Truth Social ETFs. PINE Distributors LLC is not affiliated with Yorkville America Equities LLC, Tuttle Capital Management, LLC, Curran Financial Partners, and Trump Media & Technology Group. YRKVL-5485464-06/26
Donald Trump’s fortune is split between two very different businesses. One trades on Wall Street and lurches with the price of Bitcoin. The other is built from clubhouses, fairways, and resort suites. Over the past year the digital side has slumped while the golf side has boomed, and together they help anchor a net worth that Forbes now estimates at $6.5 billion.
The digital side stumbles The steepest losses come from Trump Media and Technology Group, the parent company of Truth Social. In 2025 the company reported a net loss of $712.3 million on just $3.7 million in revenue. Most of that loss was on paper, tied to a drop in the value of the cryptocurrency it had piled onto its balance sheet.
Searching for a workable model, the company kept reinventing itself. It built a Bitcoin treasury in 2025, announced a $6 billion all-stock merger with fusion-energy firm TAE Technologies in December 2025, and by early 2026 was weighing whether to spin off Truth Social altogether.
The shifts did little to steady the stock, which trades far below its 2024 debut. Forbes estimates the slide erased about $1.3 billion from Trump’s personal stake over the past year, leaving it worth roughly $1.2 billion.
The golf side booms Trump’s brick-and-mortar holdings have moved the other way. Forbes values his golf courses, owned and licensed, collectively in the neighborhood of $1 billion, a major pillar of his fortune.
The engine is rising operating profit. Combined operating profits across his ten U.S. golf clubs climbed from $19 million in 2020 to $66 million in 2024, lifted by a wave of new club memberships and steep initiation fees. Joining his marquee Bedminster club in New Jersey, for example, runs more than $350,000.
Mar-a-Lago cashes in on politics No property captures the mix of politics and hospitality better than Mar-a-Lago, Trump’s private club in Palm Beach. Forbes now values it at about $560 million.
The political bump is not new. In a 2016 deposition, Trump recalled his manager telling him it was the best year the club had ever had, crediting the presidential campaign. Business has only grown since.
Doral rebounds, Turnberry expands Trump National Doral near Miami has also recovered strongly. Trump refinanced the resort in May 2022 with a $125 million mortgage, and it remains one of his largest properties.
Across the Atlantic, Trump Turnberry in Scotland is adding to its golf offering with “Trump’s Twelve,” a new 12-hole Par 3 course built from the old Arran layout and due to open in 2026.
A casino payday in the Bronx The golf business has also delivered one-off windfalls. In 2023, Trump’s company sold its rights to run a public golf course in the Bronx to Bally’s for $60 million, with a clause promising more if a casino ever rose on the site. When New York regulators cleared Bally’s for a casino license in December 2025, that clause triggered an additional $115 million payment to the Trump Organization.
Two businesses, two trajectories The split tells a simple story. The market-traded, crypto-tied side of Trump’s empire swings hard with investor mood, while the golf courses, clubhouses, and resorts keep generating cash through the cycle. For now, the fairways are the steadier half of the fortune.
Trump Media and Technology Corp., which operates the social media platform Truth Social, has named Kevin McGurn as interim CEO to succeed Devin Nunes.
McGurn, a former executive at T-Mobile USA, Vevo and Hulu, has been an advisor to the company since December, 2024.
Nunes, a former congressman, has served as CEO since the company’s inception. In addition to Truth Social, the company operates the streaming service Truth+ and the financial services brand Truth.Fi.
In March, TMTG reported a $712 million loss on net revenue of $3.7 million. It reported assets of $2.6 billion.
The stock, operating with the symbol of the president’s initials, DJT, closed at $9.82 on Tuesday, down 3.7%. Since Trump was reelected in 2024, it reached a high of $40.03 on Jan. 17, 2025.
In a statement, Donald Trump Jr. said, “I want to thank Devin Nunes for his dedicated service to the Company over the past four years, and congratulate Kevin McGurn on his appointment as Interim CEO. Kevin brings deep experience across media, technology, and capital markets, as well as a strong understanding of Trump Media’s operations and strategic priorities. His familiarity with the Company and alignment with our leadership team uniquely position him to guide Trump Media through this important period.”
The company has, among other things, partnered with Crypto.com and, late last year, announced a merger with fusion power company TAE Technologies, with the deal expected to close in mid-2026. In February, they announced the potential spinoff of businesses including Truth Social.
In a statement, McGurn said that the president “founded Truth to give all Americans a platform for free speech, and the Company is poised to take off and meet that vital challenge and opportunity.”
“In carrying President Trump’s unique, singular vision and message, Truth Social stands for the most powerful brand and voice in history of social media and beyond. I look forward to building on the strong foundation established by the team, ensuring a smooth leadership transition, executing on our strategic priorities, and positioning our media assets for their next phase of growth.”
The Trump business behind Truth Social is replacing a former congressman and big supporter of the U.S. president as the leader of the social media platform after a stock collapse that wiped out billions in investor wealth.
Devin Nunes, a former California congressmen in Donald Trump’s first term, is being replaced temporarily by digital media executive Kevin McGurn as chief executive officer. The company, Trump Media & Technology, didn’t give a reason for Nunes leaving or provide a timeline for his permanent replacement.
After soaring shortly before Trump’s re-election in November 2024, stock in the company plunged 67%, wiping out more than $6 billion in investor wealth.
Trump Media was formed by the Trump family as an alternative to social media giants that had barred him from posting on their platforms after the January 6, 2021 Capitol riots. It said it would not only take on Facebook and Twitter as a “free speech” alternative, but eventually could become a media giant competing with streaming services such as Netflix.
The stock soared, but it never gained traction with a wide audience despite the president’s frequent use of it for major political announcements, slammed by government ethics experts as a conflict of interest with the presidency.
Since it went public two years ago, Trump Media has lost more than $1.1 billion. Nunes got total compensation of $47 million in 2024, the last year for which figures are available.
The new CEO McGurn said in statement that the company was “poised to take off.”
“In carrying President Trump’s unique, singular vision and message, Truth Social stands for the most powerful brand and voice in history of social media and beyond,” he said.
The Trump Organization didn’t immediately responded to a request for comment.
The company has recently branched into cryptocurrency and another hot business, prediction markets. The latter are online betting venues where people can wager on sports, entertainment and political events.
Both cryptocurrencies and prediction markets have gotten boosts from the Trump administration, in terms of lighter regulation and outright promotion. Last year, for instance, the Trump established a national bitcoin reserve, pushing up the value of that currency.
McGurn, has worked at NBC Universal, Hulu and DoubleClick, among other companies, according to his LinkedIn profile. He is also the CEO of a new shell company that Trump’s two oldest sons, Donald Jr. and Eric, joined last year to buy U.S. manufacturers. That company originally stated in regulatory filings that it would be targeting businesses hoping to tap federal contracts, which would be awarded by the same government run by their father.
The Trump Organization and the White House have repeatedly denied that there are conflicts of interest between Trump’s role as president and the family business.
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Key Takeaways The Trump-family owned parent company of Truth Social tapped a new interim chief after Devin Nunes, a former California congressman, stepped down on Wednesday.Trump Media & Technology Group's market capitalization, over $10 billion at its peak, is now at about a quarter of that. Get personalized, AI-powered answers built on 27+ years of trusted expertise.
Trump Media & Technology (DJT) has taken investors on a wild ride. Unfortunately for them, it's mostly been downhill.
And it's unclear when that might change, with the stock extending its slide as the company—parent of social media platform Truth Social, part-owned by President Donald Trump—appears to plotting a new path under new leadership. Trump Media earlier this week appointed Kevin McGurn its interim CEO after its longtime chief, former Congressman Devin Nunes, stepped down.1
Trump Media, then led by Nunes, seemed on the upswing as Trump clinched a second term, with a market capitalization around $9 billion. More recently, it has reported steep financial losses, and announced a deal with fusion energy company TAE Technologies, plans to spin Trump Media businesses including Truth Social into another public company, and the possibility of more deals on the way.
Investors haven't seen much that they like, with the stock generally falling since Trump's reelection and the company's market value now around $2.5 billion.
WHY THIS MATTERS TO YOU Though Trump Media started out on a pretty path after its listing debut in March 2024, and shares surging on President Trump's winning a second term—its future now would appear murkier.
Nunes on Truth Social thanked President Trump, saying the time was "appropriate" for McGurn to "take over the Company's leadership and steer Trump Media through its current transition phase."2 Eric Swider, who was chief of the blank-check company that merged with Trump Media to land "DJT" on public exchanges in 2024, resigned from the board in early April. 3
Truth Social continues to be a vital communications organ for the president—but its monthly active users on iOS and Android have fallen 9% year-over-year to a little over 2 million, while desktop and mobile web audiences have declined 27% to 4.6 million users, according to estimates from digital intelligence platform Similarweb. Its daily active users, at just under 320,000, are about a tenth of the next biggest platform, Blusky Social, and a sliver of X's roughly 129 million, according to Similarweb data.
Trump Media in February reported 2025 revenue of about $3.7 million and a net loss of more than $712 million, most of which the company said was due to unrealized losses from its digital assets and related securities.4 At the end of 2025, the company said, it had about $2.5 billion in cash, restricted cash, short-term investments, stock, note receivables, digital assets and pledged digital assets.
McGurn has served as an adviser to Trump Media since late 2024. He was also the chief of at least two blank- check companies that have been in deal talks with Trump Media: Yorkville Acquisition Corp. (MCGA), which per an August announcement is intended to form Trump Media Group CRO Strategy, a digital asset treasury focused on cronos, crypto that is held on Trump Media's balance sheet, and Texas Ventures Acquisition III (TVA), which Trump Media said in February was in "discussions" to merge with Trump Media businesses including Truth Social and other of its businesses after they were spun off.5
A merger between spun-off Trump Media businesses and Texas Ventures would occur only after Trump Media's merger with TAE, a company aspiring to make fusion energy a commercial reality, according to the companies.6 7
Trump Media has yet to offer much explanation for the management change or detail regarding what could follow. A Trump Media spokesperson directed Investopedia to official statements and did not directly address emailed questions regarding the resignation of Swider, the status of the pending deals announced by Trump media, and whether McGurn would be handling those deals.
For now, investors are backing off. The shares recently traded below news of the latest round of deals landed—though holding above 2026, and all-time, lows below $9 apiece.
After a significant jump between April 27 and 28, Trump Media & Technology (NASDAQ: DJT) stock short volume ratio inched higher and ended the month at its highest value in at least two weeks.
Specifically, after hitting its recent low of 37.11, the metric soared to 60.18 within a single day and continued climbing to 61.63 on April 30.
DJT stock short volume ratio. Source: Finbold Notably, the April 27 bottom coincided with one of DJT stock’s highest closing prices of the month – $9.95 – and the subsequent rise in bearish bets accompanied a significant price drop.
Thus, the most recent reading appears to indicate that investors estimate that Trump Media shares are about to plunge further in May, though it simultaneously raises the possibility that a significant short squeeze is imminent.
Is a squeeze imminent for DJT stock short-traders? The possibility that DJT stock short-sellers are about to get liquidated is increased by the equity’s 2026 tendency to trade together with major moves made by other major assets, at least in the short term.
Indeed, while noticeably more volatile, Trump Media appears to have followed the wider market into the late January downturn, the Iran war crash, but also the upward bounce from the bottom between March 27 and 30.
Still, while event-driven, the equity’s performance also demonstrated it is backed by less long-term confidence than most of the prominent technology companies.
Specifically, while the benchmark S&P500 index continued trading higher from the recent low and ended the month at a new all-time high (ATH), DJT reached its 30-day high of $10.26 already on April 17 and ended the period at $9.17.
Trump media stock price one-month chart. Source: Finbold Why a Trump stock short squeeze in May is unlikely Additionally, both the recent events and technical analysis (TA) appear to be ruling out an imminent short squeeze.
Overall readings for DJT, whether based on the last month, week, or day, are leaning toward a ‘Sell’ recommendation, with moving averages (MA) being rather decisive and oscillators only occasionally painting a bullish picture, per the data Finbold retrieved from TradingView on May 1.
DJT stock technical analysis. Source: TradingView Simultaneously, while a conclusive U.S. victory against Iran could drive the Trump stock higher, a final peace agreement appears as elusive as a decisive military operation.
Still, the recent increase in oil prices and the President’s upcoming visit to China – scheduled for mid-May – represent a point of pressure that could lead to a sudden diplomatic breakthrough and generate a sudden tailwind rather than continuing to produce headwinds.
Featured image via Shutterstock
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Kevin McGurn helped drive the company's unexpected foray into fusion energy. Now, he will have to figure out how to manage a diverse group of businesses as its CEO.
The pitch was simple: buy the ticker, ride the brand. Two years after Trump Media & Technology Group (NASDAQ:DJT) went public in March 2024 via a merger with Digital World Acquisition Corp, the math on that trade is brutal for people who bought near the top.
The stock closed at **$8.77 on May 12, 2026**, down **77.47%** from the $38.94 it traded at on March 1, 2024. Over the past year, DJT has shed 64.12%, and the market cap now sits at roughly $2.43 billion.
The Insider Versus Retail Math At the peak of 2024 euphoria, Donald Trump’s personal stake in TMTG climbed past $4 billion, per Forbes’ 2025 estimate that pegged his total wealth at $7.3 billion. Insider ownership stands at 42.62%. Founders held shares acquired at near-zero cost. Retail investors who chased headlines paid market price and absorbed almost all downside as the ticker retraced.
This is the recurring lesson of brand-wrapped equities: insiders do far better than those who bought the name.
Fundamentals Never Showed Up The company recently released its **Q1 2026 earnings results**, reporting a **net loss of $405.9 million** for the three-month period ending March 31. This follows a full-year 2025 where revenue was just $3.68 million against a $711.2 million loss. Notably, $368.7 million of the Q1 loss was attributed to non-cash unrealized losses on digital assets, reinforcing the company’s status as a volatile bitcoin proxy.
The valuation math remains severe. Price-to-sales is astronomical, and revenue per share is negligible. While former CEO Devin Nunes framed a “balance sheet story” in February, the fundamentals of an operating business are still missing. The underlying social platform generated under $0.9 million of revenue in Q1 2026, continuing a trend of stagnant growth.
The “McGurn Pivot” and Retail Sentiment The narrative took a new turn on **April 21, 2026**, when TMTG appointed **Kevin McGurn as Interim CEO**. This leadership transition occurred just as the company doubled down on its focus toward the TAE Technologies fusion merger to justify its multi-billion dollar valuation.
Reddit traffic reflects the growing skepticism. After a brief bullish spike around the merger announcement, sentiment collapsed. By May 12, 2026, sentiment on r/wallstreetbets remained firmly bearish (index of 16), with retail discussion focused on the “retail dilution” paradox: while the company has grown its cash position to $2.2 billion through equity maneuvers, the per-share value for everyday investors continues to evaporate.
What To Watch For a long-term portfolio, the questions are clarifying. Is DJT a media company, a bitcoin proxy, or a holding-company experiment? With quarterly revenue under $1 million, the operating business does not yet exist at scale. The treasury and the brand are the only pillars holding up the stock. As the company navigates a leadership transition and a complex fusion merger, the fundamentals supporting a $2.4 billion equity are not present. Treat the ticker accordingly.
~ Total Assets of $2.2 Billion and Over $2 Billion in Financial Assets* ~
~ $17.9 Million Cash Provided by Operating Activities with Fourth Consecutive Quarter of Positive Operating Cash Flow ~
~ Truth Social, Truth+ Enhancements Continue as TMTG Moves toward Prospective Merger with TAE Technologies ~
SARASOTA, Fla., May 08, 2026 (GLOBE NEWSWIRE) -- Trump Media and Technology Group Corp. (Nasdaq, NYSE Texas: DJT) (“TMTG” or the “Company”), operator of the social media platform Truth Social, the video streaming service Truth+, and the financial services and FinTech brand Truth.Fi, is announcing its financial results for the fiscal quarter ending on March 31, 2026, and is filing its Form 10-Q with the Securities and Exchange Commission (the “SEC”) today.
TMTG closed the first quarter of 2026 with total assets of $2.2 billion and financial assets of approximately $2.1 billion comprising cash, restricted cash, short-term investments, equity securities, note receivable and accrued interest, digital assets, and digital assets pledged—nearly tripling the Company’s $759.0 million in financial assets held at the end of the first quarter of 2025. The Company also announced its fourth consecutive quarter of positive operating cash flow, posting $17.9 million of cash provided by operating activities for the first quarter.
Supported by its strong balance sheet, the Company is continuing to pursue all its strategic priorities, including expanding and enhancing its flagship Truth Social and Truth+ platforms. Truth Social is currently developing or testing numerous new features including:
Discussion and share features for predictions contracts, provided in cooperation with Crypto.com | Derivatives North America (CDNA).A dedicated feature for sports information and discussion.Boosted truths allowing for increased visibility of specific posts.Enhancements to the platform’s interoperability with Truth+.Continued expansion of the use of artificial intelligence to assist the platform’s performance. The Truth+ video streaming platform had robust enhancements in the first quarter, focusing on expanding content and improving the platform’s ease of use, including:
Expanding live TV entertainment options with the addition of new channels including Nothing But Sportz, Retro, and In Touch.Expanding international offerings by adding i24 English Israel, Azores TV, and Western Bound Portugal, while negotiations are ongoing to incorporate additional international programming options.Enhancing the look and ease of use across the platform, including for the TV guide, on demand programming, carousels, and connected TVs.Introducing push notifications for Truth+ app users.Simplifying the onboarding process and reducing friction for new users. TMTG Interim Chief Executive Officer Kevin McGurn said, “Trump Media is using its strong balance sheet and positive operating cash flow to continue growing all our businesses and platform infrastructure. Even as we work toward advancing our proposed merger with TAE Technologies as quickly as possible, we’re identifying new growth opportunities and new ways to increase shareholder value. Truth Social remains a bastion of free speech with innovative enhancements coming soon, and I look forward to rapidly growing our Truth Social and Truth+ communities and building out these powerful, uncancellable platforms for free expression.”
Aside from its $2.1 billion in financial assets and $17.9 million in positive operating cash flow, the Company reported a $405.9 million net loss and a $387.8 million Adjusted EBITDA* loss for the first quarter of 2026, the vast bulk of which was non-cash losses including unrealized losses on digital assets, digital assets pledged, and equity securities ($368.7 million), accreted interest ($11.5 million), and stock based compensation ($11.8 million). The Company posted $0.9 million in revenue, as it continues to focus on expanding its infrastructure and audience to prepare for future monetized features.
* Financial Assets, Positive Operating Cash Flow and Adjusted EBITDA are Non-GAAP Financial Measures, the definitions which can be found in the Use of Non-GAAP Financial Measures section at the end of this release. A reconciliation of Adjusted EBITDA to the most comparable GAAP measure can also be found in the Use of Non-GAAP Financial Measures section at the end of this release
About TMTG
The mission of Trump Media is to end Big Tech’s s assault on free speech by opening up the Internet and giving people their voices back. Trump Media operates Truth Social, a social media platform established as a safe harbor for free expression amid increasingly harsh censorship by Big Tech corporations; Truth+, a TV streaming platform focusing on family friendly live TV channels and on-demand content; and Truth.Fi, a financial services and FinTech brand incorporating America First investment vehicles.
Investor Relations Contact
Shannon Devine (MZ Group | Managing Director - MZ North America) Email: [email protected]
Important Information About the Proposed Transaction and Where to Find It
In connection with TMTG’s merger with TAE Technologies (the “Proposed Transaction”), TMTG intends to file with the U.S. Securities and Exchange Commission (the “SEC”) a registration statement on Form S-4 to register the common stock of TMTG (“TMTG Shares”) to be issued in connection with the Proposed Transaction. The registration statement will include a document that serves as a proxy statement and prospectus of TMTG and consent solicitation statement of TAE (the “proxy statement/prospectus and consent solicitation statement”), and TMTG will file other documents regarding the Proposed Transaction with the SEC. This document is not a substitute for the registration statement, the proxy statement/prospectus and consent solicitation statement, or any other document that TMTG may file with the SEC. BEFORE MAKING ANY VOTING DECISION, INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE REGISTRATION STATEMENT, THE PROXY STATEMENT/PROSPECTUS AND CONSENT SOLICITATION STATEMENT, AND ANY OTHER RELEVANT DOCUMENTS THAT MAY BE FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THOSE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY IF AND WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT TMTG AND TAE, THE PROPOSED TRANSACTION, THE RISKS RELATED THERETO, AND RELATED MATTERS.
After the registration statement has been declared effective, a definitive proxy statement will be mailed to the shareholders of TMTG (the “TMTG Shareholders”) and a prospectus and consent solicitation statement will be sent to the stockholders of TAE. Investors and security holders will be able to obtain free copies of the registration statement and the proxy statement/prospectus and consent solicitation statement, as each may be amended or supplemented from time to time, and other relevant documents filed by TMTG with the SEC (if and when they become available) through the website maintained by the SEC at www.sec.gov. Copies of documents filed with the SEC by TMTG, including the proxy statement/prospectus and consent solicitation statement (when available), will be available free of charge from TMTG’s website at tmtgcorp.com under the “Investors” tab.
Participants in the Solicitation
TMTG and certain of its directors and executive officers and TAE and certain of its directors and executive officers, may be deemed to be participants in the solicitation of proxies from the TMTG Shareholders with respect to the Proposed Transaction under the rules of the SEC. Information regarding the names, affiliations and interests of certain of TMTG’s directors and executive officers in the solicitation can be found by reading TMTG’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025 filed with the SEC on February 27, 2026 (as amended on April 30, 2026), TMTG’s subsequent Quarterly Reports on Form 10-Q filed with the SEC, TMTG’s definitive proxy statement for the 2025 annual meeting of shareholders filed with the SEC on March 18, 2025 and the proxy statement/prospectus and consent solicitation statement and other relevant materials filed with the SEC in connection with the Proposed Transaction when they become available. Free copies of these documents may be obtained as described in the paragraphs above. Information regarding the persons who may, under the rules of the SEC, be deemed participants in the solicitation of the TMTG Shareholders in connection with the Proposed Transaction, including a description of their direct and indirect interests, by security holdings or otherwise, will also be set forth in the proxy statement/prospectus and consent solicitation statement and other relevant materials when filed with the SEC.
Cautionary Statement About Forward-Looking Statements
This communication contains forward-looking statements within the meaning of the U.S. federal securities laws, including regarding, among other things, the plans, strategies, and prospects, both business and financial, of TMTG, and its current expectations and projections about future events such as TMTG’s Proposed Transaction with TAE. These statements are based on current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially. Words such as “anticipate,” “believe,” “expect,” “intend,” “may,” “plan,” “project,” “should,” “will” and similar expressions are intended to identify forward-looking statements, though not all forward-looking statements contain these identifying words, and the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are predictions, projections and other statements about future events or conditions that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause future results, performance or achievements expressed or implied by the forward-looking statements to differ materially from the forward-looking statements in this communication, including, but not limited to, risks related to TMTG’s or TAE’s ability to demonstrate and execute on commercial viability of its technology; legal proceedings; ability to obtain financing on acceptable terms or at all; changes in digital asset valuations; disruption to TMTG’s operations; TMTG’s ability to develop and maintain key strategic relationships; competition in TMTG’s industry; ability to access required materials at acceptable costs; delays in the development and manufacturing of fusion power plants and related technology; ability to manage growth effectively; possibility of incurring losses in the future and not being able to achieve or maintain profitability; potential generation capacities of specific reactor designs; regulatory outlook; future market conditions; success of strategic partnerships; developments in the capital and credit markets; future financial, operational and cost performance; revenue generation; demand for nuclear energy; economic outlook and public perception of the nuclear energy industry; changes in laws or regulations; ability to obtain required regulatory approvals on a timely basis or at all; ability to protect intellectual property; adverse economic or competitive conditions; and other risks and uncertainties. In addition, TMTG cautions you that the forward-looking statements contained in this communication are subject to the following factors: (i) the occurrence of any event, change or other circumstances that could delay site selection or the Proposed Transaction or give rise to the termination of the agreements related thereto; (ii) the outcome of any legal proceedings that may be instituted against TMTG or TAE with respect to site selection or the Proposed Transaction; (iii) the inability to complete the Proposed Transaction due to the failure to obtain approval of the shareholders of TMTG or TAE, or other conditions to closing in the merger agreement; (iv) the risk that the Proposed Transaction disrupts TMTG’s current plans and operations as a result of the announcement of the Proposed Transaction; (v) TMTG’s ability to realize the anticipated benefits of the Proposed Transaction, which may be affected by, among other things, competition and the ability of TMTG to grow and manage growth profitably following the Proposed Transaction; and (vi) costs related to the Proposed Transaction, site selection or construction. The forward-looking statements in this press release are based upon information available to TMTG as of the date of this press release and, while TMTG believes such information forms a reasonable basis for such statements, these statements are inherently uncertain, and you are cautioned not to unduly rely upon these statements. Except as required by applicable law, TMTG does not plan to publicly update or revise any forward-looking statements contained in this press release, whether as a result of any new information, future events or otherwise. Additional information concerning these and other factors that may impact the operations and projections discussed herein can be found in TMTG’s periodic filings with the SEC, including TMTG’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025 (as amended on April 30, 2026), TMTG’s subsequent Quarterly Reports on Form 10-Q and in the Form S-4, when filed, and in other documents filed by TMTG from time to time with the SEC. TMTG’s SEC filings are available publicly on the SEC’s website at www.sec.gov. These filings do or will identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. There may be additional risks that TMTG presently knows or that TMTG currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements.
Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and TMTG assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. TMTG does not give any assurance that TMTG will achieve its expectations. The inclusion of any statement in this communication does not constitute an admission by TMTG or any other person that the events or circumstances described in such statement are material.
No Offer or Solicitation
This communication is not intended to and does not constitute an offer to buy or sell or the solicitation of an offer to buy or sell any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.
Use of Non-GAAP Financial Measures
The Company uses certain Non-GAAP financial measures, which Financial Assets, Positive Operating Cash Flow and Adjusted EBITDA, as we believe these measures can provide meaningful information regarding our operating performance. These Non-GAAP measures should be evaluated in addition to and not as a substitute for our financial results presented in accordance with U.S. GAAP.
Financial Assets are our Total Assets comprised solely of cash, restricted cash, short-term investments, equity securities, note receivable and accrued interest, digital assets, and digital assets pledged. Positive Operating Cash Flow is our cash provided by operating activities. Adjusted EBITDA is a non-GAAP financial measure defined as net income plus interest expense, provision for income taxes, depreciation and amortization, and stock-based compensation. The Company presents Adjusted EBITDA because management believes that it can be a useful financial metric in understanding the Company’s earnings from operations. Adjusted EBITDA is not a measure of the Company’s financial performance under GAAP and should not be considered as an alternative to net income or any other performance measure derived in accordance with GAAP.
A reconciliation of Adjusted EBITDA to our most directly comparable GAAP financial measures appears below.
Three Months
Ended March 31 2026 2025 Net loss $(405,884.2) $(31,726.6)Interest (income)/expense, net 4,239.6 (7,808.4)Depreciation & amortization 1,866.4 1,779.2 Stock-based compensation 11,829.6 17,851.7 Income taxes 98.8 - Adjusted EBITDA $(387,849.8) $(19,904.1)
Trump Media & Technology Group Corp. (NASDAQ:DJT) on Friday reported strong financial results, including total assets of $2.2 billion and $17.9 million in cash provided by operating activities.
This positive momentum follows the company’s ongoing efforts to enhance its platforms, particularly Truth Social and Truth+, as it moves toward a prospective merger with TAE Technologies, which has contributed to investor optimism about its growth potential.
In its recent earnings report for the first quarter of 2026, Trump Media & Technology Group announced a net loss of $405.9 million, largely attributed to non-cash losses.
Despite this, the company highlighted its fourth consecutive quarter of positive operating cash flow, indicating a solid operational foundation as it seeks to expand its audience and platform capabilities.
The company reported first-quarter earnings per share of $1.47 loss. The company posted $0.9 million in revenue. It said it continues to focus on expanding its infrastructure and audience to prepare for future monetized features.
The broader market on Friday saw positive movement, with the S&P 500 up 0.85% and the Nasdaq gaining 2.47%. This general market strength may have bolstered investor sentiment towards Trump Media, aligning its performance with the upward trends in technology stocks.
Trump Media & Technology Group Corp is a media and technology company rooted in social media, digital streaming, information technology infrastructure, and more. Its initial product launch focuses on its social media platform, Truth Social, which encourages open and honest conversation without discriminating against political ideology.
The company matters in the current context as it continues to build its brand and user base while navigating the complexities of the digital media landscape. With a strong balance sheet and positive cash flow, Trump Media is well-positioned to pursue growth opportunities and enhance shareholder value.
Benzinga Edge RankingsBelow is the Benzinga Edge scorecard for Trump Media & Technology Group, highlighting its strengths and weaknesses compared to the broader market:
– Momentum: Weak (Score: 2.39) — Stock is underperforming the broader market.
The Verdict: Trump Media & Technology Group’s Benzinga Edge signal reveals a weak momentum profile, suggesting that the stock is struggling to gain traction in a competitive market. Investors should be cautious as the company works to stabilize its performance and leverage its operational strengths.
Price ActionDJT Stock Price Activity: Trump Media & Tech Gr shares were up 0.22% at $8.95 on Friday, according to Benzinga Pro data.
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Trump Media & Technology Group Corp. has seen severe strategic and executional missteps under former CEO Devin Nunes, with minimal revenue and an enterprise value near $1.3 billion. DJT's operating business is essentially nonexistent, with Q1 advertising revenue down 25% year-over-year to $617,000 and negligible growth across all segments. Leadership change brings cautious optimism, but the board and interim CEO McGurn lack clear public company and capital allocation expertise.
Trump Media & Technology reported Q1 revenues of $871K, up just 6% year-over-year, with losses ballooning to $405.8 million. DJT's expenses far outpace revenues, and the company remains deeply unprofitable even excluding non-cash items. Despite $1.87 billion in cash and investments, liquidity is constrained by locked-up assets and rising debt; positive cash flow in Q1 was driven by delayed payables.
President Donald Trump scooped up shares of artificial intelligence software maker Palantir weeks before he famously lauded the stock, with its ticker symbol, on his social media platform Truth Social, according to records released this week by the U.S. Office of Government Ethics.
The records show thousands of transactions during the first quarter totaling hundreds of millions of dollars, with each trade listed as a price range.
During the first three months of the year, Trump purchased between $247,008 and $630,000 worth of stock in the now Miami-based AI company, the documents show.
In March alone, Trump made at least seven purchases of Palantir totalling as much as $530,000.
The following month, Trump praised Palantir on Truth Social as shares suffered their worst week in over a year. That came as the software selloff accelerated amid the Iran war and the company caught the ire of famed short-seller Michael Burry.
"Palantir Technologies (PLTR) has proven to have great war fighting capabilities and equipment," Trump wrote on the social media platform at the time. "Just ask our enemies!!!"
The company's tools have reportedly been used to identify targets in Iran.
Several transactions were denoted as "unsolicited," indicating that the move wasn't done by recommendation of a broker or financial advisor.
"President Trump's investment holdings are maintained exclusively through fully discretionary accounts independently managed by third-party financial institutions with sole and exclusive authority over all investment decisions. Trades are executed and portfolios are balanced through automated investment processes and systems administered by those institutions," a Trump Organization spokesperson said in a statement.
Trump, his family and the Trump organization don't play a "role in selecting, directing, or approving specific investments," they added.
"They receive no advance notice of trading activity and provide no input regarding investment decisions or portfolio management of any kind," the spokesperson said.
White House spokesman David Ingle said the president's assets are in a trust managed by his children and, "There are no conflicts of interest."
Palantir did not respond to a request for comment.
The defense tech company is among a batch of such firms currying favor with the president during his second stint in the White House, as Trump accelerates the military's push for modernization.
Read more CNBC tech newsBezos opens up about AI startup Prometheus after $12 billion raise: 'We're not being secretive'DoorDash lets customers use photos, prompts to order food and book reservations in latest AI pushAs OpenAI leans into enterprise business, Apple and Google set sights on the massesPalantir's Karp says businesses are 'unhappy' with the frontier AI labsCEO Alex Karp, a vocal proponent of the U.S. military, has backed the new administration, despite previous contributions to President Joe Biden's campaign, and the company is disrupting the traditional defense contractor system dominated by major firms like Lockheed Martin and Northrop Grumman.
Last year, Palantir sponsored Trump's military parade held in June for the U.S. Army's 250th anniversary. Other tech companies also reportedly sponsored the event.
The OGE records released this week show that Trump has been active in the stock market during the early months of 2026. That included selling as much as $5 million worth of Palantir on Feb. 10. Trump made several other sales of Palantir shares over about two weeks.
But Palantir wasn't the president's only big tech trades.
In February, the president bought between $1 million and $5 million worth of AI chipmaker Nvidia. About a week later, the company expanded its AI deal with Meta Platforms.
That month, he scooped up between $1 million and $5 million worth of ServiceNow, Workday, Oracle and Microsoft during the software selloff earlier this year.
Records also show the president bought upwards of $1 million worth of Amazon, Apple and Broadcom.
HomeEconomy & PoliticsWashington WatchWashington WatchTrump Media & Technology is set to merge with a fusion power company, as the broader fusion sector is seeing new regulations and receiving boosts from the White HousePublished: May 18, 2026 at 10:00 a.m. ET
Trump Media & Technology Group is pivoting toward nuclear fusion, a corner of the energy industry that has the Trump administration’s support. Photo: MarketWatch photo illustration/Getty Images, TAE, iStockphotoIn October, the Trump administration released a “Fusion Science and Technology Roadmap” to support the construction of commercial fusion power plants as soon as the 2030s. It may not exactly resemble a Manhattan Project for nuclear fusion, but the road map indicated the federal government would support a constellation of American fusion companies and no longer treat them like an academic project.
Among several approaches, the road map pointed to a unique reactor concept — field-reversed configurations, “which could significantly reduce the cost of fusion power.” It also referenced aneutronic fuels as being a potential source of “perhaps the greatest cost savings.”
The effort to launch Truth Social-branded cryptocurrency exchange-traded funds has come to an abrupt stop after Yorkville America Digital, LLC, which was the sponsor of the ETFs application, wrote to the US Securities and Exchange Commission (SEC) requesting the withdrawal of the application.
Yorkville America Digital indicated that the decision was linked to a broader restructuring of its ETF plans and a shift toward a different regulatory framework.
The filings covered a proposed spot Bitcoin ETF and a combined Bitcoin and Ethereum ETF tied to Trump Media & Technology Group, the parent company of Truth Social.
The withdrawal came before the SEC reached a final decision on the applications, ending months of speculation around the products and their potential entry into the growing crypto ETF market.
The withdrawal also arrives at a time when the US spot crypto ETF market has become increasingly crowded.
Since the approval of spot Bitcoin ETFs in January 2024, large asset managers including BlackRock, Fidelity, and Grayscale have attracted billions of dollars in investor inflows, making it difficult for new issuers to gain market share.
The Truth Social ETF applications had already faced delays from the SEC before the withdrawal was submitted.
Regulators previously postponed their decisions as part of the standard review process applied to crypto-related investment products.
The proposed funds aimed to provide direct exposure to Bitcoin and Ethereum through regulated exchange-traded structures.
Spot crypto ETFs hold the underlying digital assets directly rather than relying on futures contracts.
Interest in these products surged after the SEC approved the first batch of spot Bitcoin ETFs in early 2024.
According to data from SoSoValue, spot Bitcoin ETFs in the United States have collectively recorded tens of billions of dollars in cumulative net inflows since launch, led by BlackRock’s iShares Bitcoin Trust and Fidelity Wise Origin Bitcoin Fund.
However, entering the market at this stage presents major challenges.
Several established ETF issuers have already lowered management fees in an attempt to attract investors.
Some funds even launched with temporary fee waivers to gain traction quickly.
Bloomberg ETF analyst James Seyffart said the competitive environment likely played a role in the withdrawal decision.
He noted that newer entrants face an uphill battle when competing against firms with established distribution networks, larger capital bases, and stronger institutional relationships.
The Truth Social filings also attracted attention because of their political connections.
Trump Media & Technology Group has remained closely tied to US President Donald Trump, making the ETF applications more visible than many other crypto investment proposals currently under SEC review.
Yorkville America Digital reportedly indicated that the withdrawal was part of a broader strategy change involving the legal structure of future investment products.
The original filings were structured under the Securities Act of 1933, which is commonly used for commodity-based ETFs, including spot Bitcoin funds.
The revised direction appears to focus on products governed under the Investment Company Act of 1940 instead.
The two frameworks operate differently and carry separate regulatory requirements.
Funds organised under the 1940 Act are often associated with stricter investor protection rules and different portfolio management standards.
While no replacement filings have been announced, the change suggests the companies may still be exploring crypto-related investment products through an alternative structure.
Eric Swider clarifies his April 2026 departure from the Trump Media board and reaffirms he left on good terms.
Veteran SPAC and governance leader now dedicating his full attention to Rubidex and its next phase of strategic growth and capital-markets preparation.
Rubidex is building foundational infrastructure for secure distributed intelligence, enabling trusted AI, intelligent operations, and emerging Reality Intelligence across enterprise, infrastructure, and digital systems.
MIAMI, May 21, 2026 (GLOBE NEWSWIRE) -- Eric Swider, a veteran public-company and SPAC executive who played a central role in the transaction that brought Truth Social to the public markets, is clarifying that he stepped down from the board of Trump Media & Technology Group (Nasdaq: DJT) (or “Trump Media”) earlier this year in order to devote his time and energy to Rubidex and its next phase of growth, including its broader strategic and capital-markets development. Trump Media disclosed in an SEC filing that Swider’s resignation became effective April 6, 2026, and that it did not arise from or relate to any dispute with management or the board.
Swider’s departure marks a significant transition given the role he played in the success of the Truth Social de‑SPAC and its path to the public markets. He served as interim chief executive officer of Digital World Acquisition Corp. (“DWAC”) beginning in March 2023, became chief executive officer in July 2023, and had served on DWAC’s board since September 2021, placing him at the center of the process that ultimately brought Trump Media to the public market in 2024.
Over the course of his career, Swider has built a reputation as a disciplined operator with deep experience across SPACs, governance, and special situations. In addition to leading DWAC through one of the most closely watched de‑SPAC transactions in recent years, he served as a director of Benessere Capital Acquisition Corp., founded Renatus Advisors, and has advised clients on complex legal, strategic, and operational matters.
Rubidex: Foundational Infrastructure for Secure Distributed Intelligence
Eric Swider co-founded Rubidex and has served as Chief Executive Officer since January 2020. Rubidex is the foundational infrastructure platform powering secure distributed intelligence - enabling enterprises, institutions, and operational environments to turn sensitive data into trusted intelligence for AI, automation, and intelligent operations without giving up privacy, ownership, or control.
The company's platform extends across secure distributed intelligence and a growing suite of applications built on one foundational infrastructure layer, including GridLock for critical infrastructure intelligence, BMSIntel for building intelligence, and RubiVault for trusted data environments. Rubidex provides the trust infrastructure that allows data, identity, and intelligent operations to work together securely across enterprise systems, critical infrastructure, buildings, and digital environments - enabling sensitive information to become operationally useful, not just protected.
“It has been an honor to serve on the board of Trump Media and to support Truth Social during such a pivotal chapter in its growth,” said Eric Swider. “I stepped down earlier this year on good terms and with great respect for the company, its leadership, and its mission. I am now fully focused on Rubidex and the opportunity ahead as we build foundational infrastructure for secure distributed intelligence - infrastructure designed to help organizations govern, protect, and activate sensitive information across enterprise, infrastructure, and digital environments.”
Swider brings more than two decades of leadership experience across governance, finance, operations, and high‑stakes execution. A U.S. Navy veteran with specialized nuclear engineering training, he has also worked across finance, industrial operations, energy, private equity, and data security - experience Rubidex believes is central to its next phase of strategic growth and capital‑markets development.
About Rubidex
Rubidex is building the foundational infrastructure layer for secure distributed intelligence. The company provides the trust layer that allows data, identity, intelligent operations, and emerging Reality Intelligence systems to work together securely across enterprises, infrastructure systems, and digital environments. By keeping sensitive data encrypted, governed, and auditable at the source, Rubidex enables organizations to deploy high-value information into AI, automation, and operational intelligence without giving up privacy, ownership, or control. This positions Rubidex as a category-defining infrastructure platform for a world where secure intelligence, data sovereignty, trusted operations, and Reality Intelligence must scale together. For more information, visit: https://rubidex.ai.
About Trump Media
The mission of Trump Media is to end Big Tech’s assault on free speech by opening up the Internet and giving people their voices back. Trump Media operates Truth Social, a social media platform established as a safe harbor for free expression amid increasingly harsh censorship by Big Tech corporations; Truth+, a TV streaming platform focusing on family‑friendly live TV channels and on‑demand content; and Truth.Fi, a financial services and FinTech brand incorporating America First investment vehicles.
While the shares of Trump Media & Technology Group (NASDAQ: DJT) have lost much of their luster since the 2024 Presidential election and possibly entered terminal decline earlier in 2026 by crashing below the $10 threshold, DJT retains the potential for a brief but powerful rally.
DJT stock price one-year chart. Source: Google Specifically, between its middling quarterly filings and links with the incumbent U.S. commander-in-chief, the company has arguably become the most prominent political meme stock in the market.
Such a view of the equity was reinforced in 2024 as the DJT share price tracked Donald Trump’s odds of victory against Kamala Harris, and in the summer of 2025, when the presidential firm rallied around July 4.
With Independence Day 2026 fast approaching and Trump Media showing it has the potential to rally already, as recently as December, Finbold consulted ChatGPT’s advanced artificial intelligence (AI) on whether making a bet on a celebratory upsurge has any legs to stand on.
ChatGPT estimates the likelihood of a July 4 Trump stock rally After analyzing DJT shares and concluding that the most recent earnings report – the one that recorded losses greater than $400 million and revenue smaller than $1 million – the AI model dismissed the odds of a rally based on fundamentals.
Indeed, ChatGPT even estimated that a fair Trump Media stock price might be as low as $5 if not lower – 45% below the press time price of $8.97 – it swiftly pivoted to explain that it remains a potentially lucrative sentiment play.
ChatGPT weighs in on DJT stock’s fundamentals-based price target. Source: Finbold & ChatGPT Specifically, OpenAI’s flagship product estimated that the downward momentum driving the equity since January 2 could exhaust itself later this summer, just as July 4 prompts President Trump to ‘re-enter the media cycle heavily’ with topics less grim than the dominant narratives of early 2026.
Lastly, the AI estimated that, between the holiday and the 2025 summer DJT stock rally, retail investors might move into position for a short-term play centered on the highly symbolic date.
Therefore, ChatGPT settled for a surprisingly optimistic possible July 4, 2026, price target for Trump Media shares: $11.40, implying a 27.09% rally from the May 29, press time price of $8.97.
ChatGPT sets DJT stock price target for July 4, 2026. Source: Finbold & ChatGPT Unprompted, the large language model (LLM) also offered a quote to summarize its thesis:
ChatGPT expects DJT to rebound to $11.40 by July 4, 2026, not because the fundamentals improved dramatically, but because Trump Media increasingly trades as a political-meme-crypto sentiment vehicle rather than a conventional media stock.
Lastly, it is worth noting that ChatGPT emphasized that, while it sees a July 4 Trump Media stock rally as plausible, it does not foresee it as altering the company fundamentals, nor leading to reliably elevated prices.
Featured image via Shutterstock
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Trump Media & Tech shares are powering higher. Why are DJT shares rallying? The underlying business remains under pressure. DJT reported revenue of $871,200 with a gross margin of -72.3%. The company posted a net loss of $405.8 million and an EPS of -$1.47. Revenue growth sits at only 1.76% year over year, which shows how slowly the business is expanding.
What The Charts SayThe technical picture is still structurally challenged. DJT is trading 28.2% below its 200-day SMA at $12.55 and 12.7% below its 100-day SMA at $10.32, confirming the stock remains in a longer-term downtrend. Even with Thursday’s strength, DJT is still fractionally below its 50-day SMA at $9.10, keeping the intermediate trend under pressure.
RSI sits at 46.62, a neutral reading that points to choppy range-bound trading rather than a momentum-driven breakout or a washed-out capitulation low. The moving average stack stays unfavorable with the 20-day SMA below the 50-day and the 50-day below the 200-day, a bearish alignment that has historically seen rallies sold into resistance.
The one constructive near-term detail is that price has reclaimed both the 20-day SMA at $8.68 and the 20-day EMA at $8.81. Holding above those levels is the minimum condition for bulls to argue for any follow-through.
Key Level to Watch:
$8 is the nearby support zone where buyers have previously stepped in, sitting just above the 52-week low of $7.86. A break below that level would likely invite fresh selling pressure. Benzinga Edge SnapshotDJT’s momentum is flagged Bearish with a score of 3.55, signaling very weak trend strength versus the broader market. Rallies remain prone to fading until the stock can first build a base above $8 and then mount a sustained reclaim of the 50-day moving average. Until that happens the trend profile stays under pressure and the burden of proof remains on the bulls.
DJT Shares Are Trending HigherDJT Price Action: Trump Media shares were up 4.40% at $9.01 at the time of publication on Thursday. The stock is near its 52-week low of $7.86, according to Benzinga Pro.
Image: Shutterstock
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SARASOTA, Fla., June 10, 2026 (GLOBE NEWSWIRE) -- Trump Media & Technology Group Corp. (Nasdaq: DJT) (“TMTG”) and TAE Technologies, Inc. (“TAE”) today announced that they remain focused on completing their previously-announced merger (the “TAE Merger”) as soon as possible, with the goal of closing the transaction in the fourth quarter of 2026 or sooner.
Trump Media and Technology and TAE Technologies said on Wednesday they have decided to not spin off Truth Social and certain other TMTG media assets into a new publicly listed company.
ToplinePresident Donald Trump’s media company has abandoned plans to spin off the Truth Social platform as a separate, publicly traded business, the company announced on Wednesday, as it plans to complete a $6 billion merger with TAE Technologies “as soon as possible.”
A merger between Trump Media and a fusion energy firm is expected “as soon as possible.”
Getty Images
Key FactsTrump Media & Technology Group, the fusion firm TAE Technologies and the special-purpose acquisition company Texas Ventures III disclosed they would no longer pursue a spin-off of Truth Social or other Trump Media assets “after further evaluation,” though they did not provide a reason for abandoning the idea.
Truth Social would have merged with Texas Ventures III after Trump Media merged with TAE Technologies, after which shares of the spun-off company would have been distributed to shareholders before the transaction closed, the companies announced in February.
Trump Media and TAE Technologies said they plan to close their merger “as soon as possible,” with a goal of closing by Q4 2026 “or sooner.”
Shares of Trump Media dropped slightly (0.3%) shortly after trading opened on Wednesday, extending losses for the stock that has plunged by nearly 41% so far this year.
big number$2.2 billion. That’s Trump Media’s market value as of Wednesday, a nearly 75% slide from its all-time high of roughly $8.7 billion in January 2025.
forbes valuationTrump has a net worth of $6.1 billion, ranking the president as the 665th-richest person in the world, according to Forbes’ estimates. He holds a 52% stake in Trump Media, totaling some 114.7 million shares worth about $932.5 million as of Wednesday’s share price.
key backgroundTrump Media and TAE Technologies announced in December they would merge in a deal valued at $6 billion, after which the Truth Social parent said it would build the “world’s first utility-scale fusion power plant” that could generate 50 megawatts of electricity. The Trump-owned firm went public in March 2024 through a reverse merger with Digital World Acquisition Corp., and trading in the stock has been frequently volatile. Trump Media has expanded to cryptocurrency, announcing last year it would launch Truth.Fi, a financial services brand, with other plans to enter the prediction markets business. Those plans included allowing users to bet on events like political elections and inflation-rate changes in a partnership with Crypto.com.
further readingForbesTrump’s Truth Social Could Become Its Own Company As Parent Firm Floats Spin-OffBy Ty Roush
