Truth Social's parent company keeps bleeding while its closest rival edges into the green, and the investigation hanging over one of Trump Media's newer revenue streams may explain why sellers are still in charge.
Selling pressure on the parent company of Truth Social persists as regulatory questions surrounding its Truth API data product remain open. Trump Media & Technology Group (NASDAQ:DJT) stock is down 4% to $6.36 this morning, a move that extends a steep decline this year and keeps sellers in control. The Truth API scrutiny stands as the most visible open issue attached to the shares.
Meanwhile, Rumble (NASDAQ:RUM) stock is up 0.6% to $5.58. Both companies court audiences looking for alternatives to the largest mainstream platforms, so the split in direction points to pressure that’s specific to Trump Media.
For a sector read, the Global X Social Media ETF (NASDAQ:SOCL) is up 0.1% to $43.09. As a benchmark for U.S. large caps, the SPDR S&P 500 ETF Trust (NYSEARCA:SPY) is down 0.2% to $762.69. Neither fund comes close to the size of the decline in Trump Media stock, which keeps the focus on company-specific concerns.
Truth API Scrutiny Keeps Pressure on Trump Media At a media industry event on October 20, Trump Media CEO Kevin McGurn declined to comment on investigations into Truth API, saying some of them are ongoing. McGurn described Truth API as a cash-positive business, offering the clearest public signal of how management views the product’s economics. Some members of Congress have called for the investigations, which leaves a regulatory question hanging over one of Trump Media’s newer revenue sources.
Truth API sells faster access to posts from Truth Social’s top trending accounts, presenting the platform’s activity as a data feed for paying customers. Because the product’s appeal rests on speed, open investigations put a question mark over a business line Trump Media’s management has singled out, so until the inquiries conclude, Trump Media stock carries that uncertainty alongside its steep slide this year.
Rumble’s Gain Isolates the Selloff at Trump Media Rumble runs a video platform alongside a cloud business, while Trump Media’s operations center on Truth Social. That different revenue mix helps explain why the two stocks are moving in opposite directions.
The Global X Social Media ETF holds both Trump Media and Rumble, though each makes up only a small slice of the fund. Most of the ETF’s weight sits with larger platform and internet operators, so a sharp move in Trump Media stock barely affects the fund’s price, which shows how the sector fund can edge higher while Trump Media shares trade lower.
The bull case for Trump Media centers on a product. Its chief executive calls it cash-positive, while the bear case points to open investigations and a steep slide this year. Rumble’s bulls can point to a cloud business that broadens its revenue, while bears may note it still competes with far larger platforms for audiences.
Truth API Probes Set Up Trump Media’s Next Test The focus will be on whether selling pressure on Trump Media eases as the investigations move forward. McGurn has said some of the investigations are ongoing, and the company’s next public update on Truth API could show whether that status has changed. Clear answers on that front could matter more to Trump Media stock than daily moves in Rumble shares or the broader social media group.
With the inquiries still open, Trump Media stock carries a regulatory question beyond the company’s control. Investors considering their DJT stock exposure can adjust their holdings carefully until that question resolves.
Contact [email protected] for any questions or corrections.
Treasury companies, public firms that hold Bitcoin on their balance sheets, have an average cost of about $80,000 per coin, according to Glassnode. Bitcoin (CRYPTO: BTC) trades at $81,836, down 1.9% over the past 24 hours and 35.1% below its all-time…
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Treasury companies, public firms that hold Bitcoin on their balance sheets, have an average cost of about $80,000 per coin, according to Glassnode. Bitcoin (CRYPTO: BTC) trades at $81,836, down 1.9% over the past 24 hours and 35.1% below its all-time high. The current price is just above what these companies paid.
According to Glassnode, Bitcoin has consistently closed above $80,000 since September 18, putting these companies back in profit. However, these firms have barely resumed buying as prices approach their average cost. On October 15, Bitcoin dropped to $79,676 during the day but closed at $82,131. This raises the question: Is the $80,000 mark a protective floor for these buyers, or could a drop below it trigger a more significant decline?
Why Bitcoin Treasury Companies’ $80,000 Cost Could Act as Support
The cost basis is the average price a company paid per Bitcoin. For those with an $80,000 cost basis, trading above that level creates paper profits; trading below it creates paper losses. Because most U.S. companies must report Bitcoin at fair value each quarter, a price drop below their cost basis would translate into reported losses.
This group is substantial, with public companies holding approximately 1.3 million BTC, valued around $106.7 billion. Strategy Inc. (NASDAQ: MSTR) is the largest holder, possessing more than 848,000 BTC following a significant purchase on October 5.
Traders often view large holders’ cost basis as a support level where buying interest may develop. This is because those companies have a vested interest in defending their average prices, and outside investors see an opportunity to buy near the prices insiders paid. Michael Saylor, co-founder of Strategy, expressed optimism, saying, “The bull market is calling,” as Bitcoin peaked at over $84,500 before retreating.
Strategy Dominates the $80,000 Average
The $80,000 average reflects a skewed group of companies. Strategy’s large holdings drive this average, so the cost primarily reflects its purchase timeline. Strategy is currently in a strong position, showing a profit with an entry value of $64.6 billion against a market value of $69.4 billion.
By contrast, smaller holders are facing challenges. For instance, Japan’s Metaplanet reports an entry value of $3.9 billion, with a current value of only $3.6 billion, indicating it’s already operating at a loss. Similarly, Trump Media & Technology Group (NASDAQ: DJT) shows an entry value of $1.13 billion but has a current value of only $781 million.
Additionally, holdings trackers list no entry value for several large holders, such as MARA Holdings (NASDAQ: MARA), creating gaps in the group’s overall cost basis.
What Could Force Bitcoin Treasury Companies to Sell
Several pressures could force selling. Debt covenants may require companies to maintain collateral above specific thresholds, resulting in margin calls if Bitcoin prices decline. Also, obligations like preferred stock dividends still need coverage during a downturn, and a plummeting share price could limit access to new capital, increasing the likelihood that companies sell Bitcoin for cash.
Index pressure adds to the risk. MSCI is moving to drop Strategy from its indexes under new rules, and index funds that drop a stock must sell it, weighing on the share price Strategy needs to raise capital.
ETF Flows Are Doing the Buying Above $80,000
ETF flows can indicate where new capital is being allocated. On October 21, U.S. spot Bitcoin ETFs attracted $528.4 million, following $526.6 million on October 19, with total net inflows reaching $57.96 billion and net assets hitting $109.3 billion.
However, these flows can be volatile. For instance, outflows of $487.1 million and $244.1 million occurred on October 7 and 8, respectively, as Bitcoin dropped from an $85,540 close on October 6 to a low of $80,315 by October 8.
Currently, Bitcoin’s 50-day moving average sits at $81,699, just below the current trading price, with a recent weekly peak of $84,856. Although Bitcoin has risen by 31.4% over the last 90 days, it remains down by 21.8% over the past year.
What Happens if Bitcoin Falls Below $80,000?
ETF buyers, not Bitcoin treasury companies, appear to be the main force holding Bitcoin above $80,000, since treasury buyers haven’t stepped up to defend their cost. If Bitcoin holds above $80,000 and its $81,699 50-day average, the group stays in profit, keeps its fundraising options open, and could retest $84,856 if ETF inflows continue.
A fall below $80,000 could hit harder. The group’s average would slip underwater, reported losses would follow, and the risk of forced selling would rise, mostly for smaller holders with debt or preferred dividends. A run of daily ETF outflows like October 7’s $487.1 million, or a close below the 14-day low of $79,676, could signal that support is breaking.
Contact [email protected] for any questions or corrections.
Trump Media stock continued its strong sell-off, reaching its all-time low as concerns about the company's revenue growth and profits rose. It dropped to $6.43, down by 62% from the highest point this year, and this retreat may continue in the near term.
Trump Media stock is sliding hard on a day when nearly everything else is climbing, and the reason has less to do with the broader market than with what sits inside the company's own balance sheet and merger pipeline.
One alternative social media name is slipping while its closest rival rises, a split that marks the selling as company-specific. Trump Media & Technology Group (NASDAQ:DJT) stock has fallen 7% to $6.48 this afternoon.
Meanwhile, Rumble (NASDAQ:RUM) shares are up 3% to $5.87, a move that runs opposite to Trump Media stock. Inside Trump Media sit the Truth Social platform, the Truth+ streaming service and the Truth.Fi financial brand, while Rumble runs a video-sharing site for content creators. Shares of both Trump Media and Rumble trade on Nasdaq, and the pair often get grouped as alternative social media peers.
Trump Media Breaks From Its Benchmarks
A look at large-cap benchmarks shows how isolated the drop in Trump Media stock is. The SPDR S&P 500 ETF Trust (NYSEARCA:SPY) is up 0.6%, a gain that leaves Trump Media stock moving against the large-cap tide.
Sector-level trading shows the same split for Trump Media stock, with the Global X Social Media ETF (NASDAQ:SOCL) up 0.3%. Trump Media stock made up just 0.7% of the fund’s net assets as of July 31, while Rumble shares accounted for 0.3%, so neither stock carries much weight in SOCL’s move.
TAE Merger Approvals Remain Pending
TAE Technologies, a privately held fusion energy developer, and Trump Media filed a registration statement in late September for their planned all-stock merger. The deal still needs shareholder and regulatory approvals, and Trump Media has targeted completion in Q4 2026, subject to standard closing conditions.
Management at Trump Media views the TAE transaction as a strategic extension into energy security infrastructure. In the Q2 2026 earnings release, Chief Executive Kevin McGurn called the merger “the most important driver of long-term shareholder value and a natural extension of our commitment to building durable, un-cancellable infrastructure, this time in energy security.”
Digital Asset Losses Shape the Results
Trump Media’s core operations remain small next to its losses. Q2 revenue came in at $1.7 million, up 92.5% from a year earlier, against a net loss of $238.1 million. Of that total, $190.4 million came from Trump Media’s non-cash unrealized losses on digital assets and equity securities.
On the balance sheet, Trump Media held $1.9 billion in financial holdings, spanning cash, digital assets, equity securities and short-term investments. That mix leaves Trump Media stock sensitive to swings in digital asset prices. Newer products add some balance, with Truth API launching on August 1 and signing more than 10 customer agreements while Truth+ reached full commercial availability.
Legal costs added to the pressure on Trump Media, with Q2 expenses of $25.6 million tied mostly to legacy litigation. Its adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) loss widened to $223.5 million from $12.8 million in the prior-year quarter. Management expects legal expenses to decline significantly and plans a more strict framework for managing the company’s digital asset treasury.
Merger Approvals Hold the Key for Trump Media
The open variable for Trump Media is whether the TAE merger clears its shareholder and regulatory approvals. Completion could give Trump Media a position in fusion energy alongside Truth Social, while delays could keep Trump Media stock tied mostly to its digital asset treasury. Investors can watch for whether Trump Media’s balance sheet holds steady as digital asset prices swing.
A drop of this scale against a rising market shows how quickly Trump Media stock can move on its own, even as Rumble shares, SOCL and SPY climb. Trump Media’s next quarterly report could show whether Truth API revenue builds on its early customer agreements. Traders may choose to reduce their DJT stock exposure until the TAE merger approvals resolve.
Contact [email protected] for any questions or corrections.
Trump Media stock continued its strong downward trend, reaching its lowest level on record as headwinds jumped. DJT fell to $6.9, down by 60% from its highest point this year and 33% below its highest point in August.
A hotter-than-expected inflation report is punishing speculative social-media stocks far harder than the broader market, and two politically charged platforms are taking the brunt of that selloff for reasons that go well beyond a single CPI number.
Speculative social-media stocks are falling faster than benchmark funds after a hotter-than-expected inflation report. Trump Media & Technology Group (NASDAQ:DJT) stock is trading at $7.38, down 5%. Meanwhile, Rumble (NASDAQ:RUM) stock is at $6.39, down 5% and matching the drop in Trump Media stock.
Benchmark funds are moving far less. The SPDR S&P 500 ETF Trust (NYSEARCA:SPY) is down 0.64%. At the same time, the Global X Social Media ETF (NASDAQ:SOCL) is down 0.3%, a fraction of the drop in shares of the two aforementioned platforms.
Higher Inflation Reading Sends Speculative Names Lower
In September, the consumer price index (CPI) rose 3.7% from a year earlier, above the 3.6% Dow Jones consensus estimate. Stock index futures turned negative after the release. On a monthly basis, the index rose 0.6% from August, lifting it to its highest level in the past year.
A stronger inflation trend can push back the timing of Federal Reserve rate cuts, and that shift tends to weigh hardest on loss-making companies whose shares trade on sentiment. Long-term borrowing costs were already elevated, with the 10-year Treasury yield at 5.24% as of October 9. Both Trump Media and Rumble carry operating losses and lean on retail interest, which places them near the front of that revaluation.
Trump Media Trades on Holdings and Headlines
Trump Media operates the Truth Social platform alongside the Truth+ streaming service and the Truth.Fi financial-products arm. Its newest offering, the Truth API data-licensing product, launched August 1 and has signed more than 10 customer agreements. In Q2 2026, the company booked revenue of just $1.7 million.
That revenue sits against $1.9 billion in financial assets, while the quarter’s net loss reached $238.11 million. Of that loss, $190.4 million came from unrealized losses on digital assets and equity securities, and legacy litigation added $25.6 million in legal expenses.
Late in September, Trump Media and the privately held fusion-energy company TAE Technologies filed a registration statement for their proposed all-stock merger, with a close targeted for Q4 2026. The Securities and Exchange Commission hasn’t yet declared that filing effective. Until the deal closes, Trump Media shares remain tied to holdings whose value can swing with rate expectations.
Rumble Feels the Same Pressure as Reddit Offers a Contrast
As a challenger in online video, Rumble runs its own streaming platform while building Rumble Cloud into graphics processing unit (GPU) infrastructure. Its Q1 2026 revenue of $25.46 million fell 15.8% year over year, missing the $27.09 million consensus estimate.
On the bull side, average monthly active users reached 56 million, up 8% sequentially on Rumble Shorts and international expansion. Northern Data, which Rumble acquired, adds about 22,400 GPUs to that cloud push. Against that, the company’s net loss of $30.27 million shows how far the business remains from profitability.
Reddit (NYSE:RDDT | RDDT Price Prediction) offers a contrast as a larger, profitable, advertising-supported community platform. That profile gives it stronger ground than the two smaller names when rate expectations shift. RDDT stock is declining 2% to $152.27.
Merger Review Sets Up Trump Media’s Next Test
Trump Media stock was down 43% year to date through the prior session’s close, while Rumble stock was up 3% over the same stretch. The two names have traveled quite differently this year, even as both stocks are falling in tandem on the inflation reading.
Regulatory review of the TAE filing is Trump Media’s next potential milestone, since an effective filing could move the merger toward its targeted close. Any further Fed commentary could reset rate expectations for loss-making platforms, so investors may want to size their positions in DJT stock with that risk in mind (we wrote a free guide on keeping speculative exposure small and rule-bound, which you can grab here).
Contact [email protected] for any questions or corrections.
President Donald Trump on Sunday named Katie Zacharia, a lawyer and conservative commentator at Trump Media & Technology, to be the next White House press secretary.
"I am pleased to announce that Katie Zacharia will be beginning her term as Press Secretary tomorrow, Columbus Day, and will be doing an introductory News Conference on Tuesday at 9:30 A.M. from the Press Briefing Room in the White House," the president wrote in a Truth Social post.
"Katie has been with me, in spirit, from the very beginning, and will do a fantastic job!" he added.
Zacharia, a self-described "hardline Trump supporter," succeeds Karoline Leavitt, who left the Trump administration in late August. Leavitt went on maternity leave after giving birth to her second child earlier this year. She is expected to join Fox News as an on-air contributor next month.
According to her LinkedIn profile, Zacharia has worked since June as a senior communications advisor for Trump Media, which owns the president's preferred social media outlet, Truth Social.
Her profile also shows that she serves as general counsel at Fix California, a conservative activist group founded by Richard Grenell, Trump's special presidential envoy for special missions and former head of the John F. Kennedy Center for the Performing Arts.
In March, Zacharia finished a two-month stint as a spokeswoman for the Department of Homeland Security, according to her LinkedIn page.
Zacharia's IMDb page lists dozens of appearances on Fox News political talk shows and other conservative outlets.
— CNBC's Kevin Breuninger contributed to this report.
The White House has tapped Katie Zacharia, a lawyer and conservative commentator who works for Trump Media & Technology Group, to be its next press secretary, a White House official confirmed to CNBC.
Zacharia, a self-described "hardline Trump supporter," has been offered the role, the official said on condition of anonymity to discuss the hiring announcement. It was not immediately clear if she has accepted the offer.
If she takes the job, Zacharia will succeed Karoline Leavitt, who left the Trump administration in late August. Leavitt, who went on maternity leave after giving birth to her second child earlier this year, will join Fox News as an on-air contributor in November.
The New York Times first reported the White House's pick of Zacharia.
Zacharia has worked since June as a senior communications advisor for Trump Media, owner of the president's preferred social media outlet, Truth Social, according to her LinkedIn profile.
The profile also shows her currently serving as general counsel at Fix California, a conservative activist group founded by Richard Grenell, Trump's special presidential envoy for special missions and former head of the John F. Kennedy Center for the Performing Arts.
Zacharia in March finished a two-month stint as a spokeswoman for the Department of Homeland Security, her LinkedIn page shows.
An IMDb page for Zacharia shows dozens of appearances on a number of political talk shows airing on Fox News and other conservative outlets.
Trump Media & Technology Group (NASDAQ:DJT – Get Free Report) and NerdWallet (NASDAQ:NRDS – Get Free Report) are both communication services companies, but which is the better investment? We will compare the two companies based on the strength of their risk, institutional ownership, profitability, earnings, valuation, analyst recommendations and dividends.
Analyst Recommendations This is a summary of current recommendations and price targets for Trump Media & Technology Group and NerdWallet, as reported by MarketBeat.com.
Sell Ratings Hold Ratings Buy Ratings Strong Buy Ratings Rating Score Trump Media & Technology Group 1 0 0 0 1.00 NerdWallet 1 3 4 0 2.38 NerdWallet has a consensus price target of $12.83, suggesting a potential upside of 48.71%. Given NerdWallet’s stronger consensus rating and higher possible upside, analysts clearly believe NerdWallet is more favorable than Trump Media & Technology Group.
Volatility and Risk Trump Media & Technology Group has a beta of 4.07, suggesting that its stock price is 307% more volatile than the S&P 500. Comparatively, NerdWallet has a beta of 1.25, suggesting that its stock price is 25% more volatile than the S&P 500. Institutional and Insider Ownership 4.3% of Trump Media & Technology Group shares are owned by institutional investors. Comparatively, 38.8% of NerdWallet shares are owned by institutional investors. 53.0% of Trump Media & Technology Group shares are owned by insiders. Comparatively, 52.7% of NerdWallet shares are owned by insiders. Strong institutional ownership is an indication that endowments, hedge funds and large money managers believe a company is poised for long-term growth.
Profitability This table compares Trump Media & Technology Group and NerdWallet’s net margins, return on equity and return on assets.
Net Margins Return on Equity Return on Assets Trump Media & Technology Group -28,860.39% -64.07% -39.14% NerdWallet 7.56% 18.07% 14.41% Earnings & Valuation This table compares Trump Media & Technology Group and NerdWallet”s revenue, earnings per share and valuation.
Gross Revenue Price/Sales Ratio Net Income Earnings Per Share Price/Earnings Ratio Trump Media & Technology Group $3.68 million 672.95 -$712.06 million ($4.90) -1.82 NerdWallet $836.60 million 0.66 $48.70 million $0.89 9.70 NerdWallet has higher revenue and earnings than Trump Media & Technology Group. Trump Media & Technology Group is trading at a lower price-to-earnings ratio than NerdWallet, indicating that it is currently the more affordable of the two stocks.
Summary NerdWallet beats Trump Media & Technology Group on 11 of the 14 factors compared between the two stocks.
(Get Free Report)
Trump Media & Technology Group Corp. engages in operating social media and in the technology business. Its brands include TRUTH Social, TMTG+ and TMTG News. The company was founded on March 28, 2024 and is headquartered in Sarasota, FL.
About NerdWallet (Get Free Report)
NerdWallet, Inc. operates a digital platform that provides consumer-driven advice about personal finance by connecting individuals and small and mid-sized businesses with financial products providers in the United States, the United Kingdom, Australia, and Canada. Its platform offers guidance to consumers through educational content, tools and calculators, and product marketplaces, as well as through NerdWallet app for various financial products, including credit cards, mortgages, insurance, SMB products, personal loans, banking, investing, and student loans. The company was founded in 2009 and is based in San Francisco, California.
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Trump Media & Technology Group Corp. (NASDAQ:DJT) is trending Thursday after the company and TAE Technologies Inc. announced the filing of a Form S-4 registration statement with the SEC, advancing their previously announced merger.
Trump Media & Technology Group stock is trading flat. What should traders watch with DJT? TMTG Advances TAE Merger with Registration FilingTMTG and TAE entered into an Agreement and Plan of Merger on December 18, 2025, structured as an all-stock business combination in which TMTG shareholders and TAE stockholders would each own approximately 50% of the combined company on a fully diluted basis. The combination pairs TMTG’s balance sheet with TAE’s applied research and technology portfolio, developed over nearly 30 years and commercialized through three business units: Fusion, Power Solutions, and Life Sciences. Once closed, the merger would create one of the world’s first publicly traded companies developing commercial fusion energy, positioning the combined entity to address growing demand for electricity, including power needs tied to artificial intelligence.
“With TAE, we see a differentiated, balanced risk profile with attractive growth opportunities,” said Kevin McGurn, Interim CEO of TMTG. “Today’s filing is a key step toward closing this merger and providing capital to fund TAE’s development of commercial fusion power.”
“TMTG has been a strong supporter in our effort to commercialize our technologies. Over three decades, we’ve relentlessly pursued some of the most challenging scientific and engineering problems known to humankind, which has produced cutting-edge technology that we are commercializing today,” said Michl Binderbauer, CEO and CTO of TAE Technologies.
The registration statement includes a preliminary proxy statement and prospectus from TMTG, along with a consent solicitation statement from TAE. It has not yet been declared effective by the SEC, and no securities may be sold or offers accepted under the merger until that occurs.
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Trump Media & Technology Shares Trade FlatDJT Price Action: At the time of publication, Trump Media & Technology shares are trading 0.44% higher at $9.10, according to data from Benzinga Pro.
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Filing Advances Previously Announced All-Stock Combination to Support TAE’s Continued Development and Commercialization of Advanced Technologies
Combined Company Would Be One of the World’s First Publicly Traded Companies Developing Commercial Fusion Energy
SARASOTA, Fla. and FOOTHILL RANCH, Calif., Sept. 30, 2026 (GLOBE NEWSWIRE) -- Trump Media & Technology Group Corp. (“TMTG”) (Nasdaq: “DJT”; NYSE Texas: “DJT”) and TAE Technologies, Inc. (“TAE”), an innovator in advanced technology across fusion energy, power management and cancer therapy, announced the filing today of a registration statement on Form S-4 (the “Registration Statement”) with the U.S. Securities and Exchange Commission (the “SEC”) in connection with the companies’ previously announced merger.
On December 18, 2025, TMTG and TAE entered into an Agreement and Plan of Merger (the “Merger”) providing for an all-stock business combination. Once completed, the combined company will be publicly traded, with TMTG shareholders and TAE stockholders each owning approximately 50% of the enterprise on a fully diluted basis.
The combination will pair TMTG’s balance sheet with TAE’s applied research and advantaged technologies, developed over nearly 30 years. TAE is now bringing these technologies to the marketplace, commercializing its portfolio through three distinct but synergistic business units, Fusion, Power Solutions, and Life Sciences, while maintaining its focus on developing new technology solutions.
Upon closing, TAE will continue to address growing demand for reliable, abundant, and affordable electricity, including the power and power management needed to support advancements in artificial intelligence. The combination is consistent with TMTG’s mission of diversifying into new, critically important sectors through transformative technology investments with the potential to create significant long-term value.
“With TAE, we see a differentiated, balanced risk profile with attractive growth opportunities,” said Kevin McGurn, Interim Chief Executive Officer of TMTG. “Today’s filing is a key step toward closing this merger and providing capital to fund TAE’s development of commercial fusion power.”
Michl Binderbauer, Chief Executive Officer and Chief Technology Officer of TAE Technologies, said “TMTG has been a strong supporter in our effort to commercialize our technologies. Over three decades, we’ve relentlessly pursued some of the most challenging scientific and engineering problems known to humankind, which has produced cutting-edge technology that we are commercializing today.”
The Registration Statement includes a preliminary proxy statement of TMTG, a prospectus of TMTG, and a consent solicitation statement of TAE. It has not yet become effective, and the securities to be issued in the Merger may not be sold, nor may offers to buy be accepted, prior to the time the Registration Statement is declared effective by the SEC.
About Trump Media & Technology Group Corp.
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.
About TAE Technologies, Inc.
Founded in 1998, TAE Technologies’ mission is to develop and commercialize advanced technologies that solve the world’s most difficult scientific and engineering challenges. TAE’s north star is to deliver reliable, abundant, and clean fusion technology as a cost-competitive component of the future global energy supply. Fusion development serves as a forcing function, requiring TAE to develop technologies across a broad and deep spectrum of highly technical fields, with various commercial applications, including power solutions and life sciences. TAE’s Power Solutions (“TPS”) business unit applies fusion-derived, microsecond-scale power control to the challenges created by highly dynamic AI compute loads, through its flagship offering, TAE PowerFabric™. TAE’s Life Sciences (“TLS”) business unit set out to leverage TAE Technologies’ proprietary fusion-derived particle accelerator technology to achieve a step change in radiation therapy, improve the lives of patients and combat difficult-to-treat cancers using biologically-targeted boron neutron capture therapy (“BNCT”). For more information, visit tae.com.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the federal securities laws, including statements regarding the proposed Merger between TMTG and TAE, the anticipated timing and benefits of the transaction, TMTG’s and TAE’s future business plans, and TAE’s development and commercialization of fusion energy technology, including the Da Vinci prototype power plant. These statements are based on current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially, including, among others: the risk that the Merger may not be completed on the anticipated timeline or at all, including as a result of a failure to obtain required shareholder, stockholder or regulatory approvals or satisfy other closing conditions; the possibility that anticipated benefits of the Merger may not be realized; the significant capital required to develop and commercialize TAE’s fusion technology; the risk that TAE may be unable to successfully develop or commercialize a viable fusion reactor on its expected timeline or at all; and other risks and uncertainties described in TMTG’s filings with the SEC, including the Registration Statement and the risk factors described therein. TMTG and TAE undertake no obligation to update any forward-looking statements, except as required by law.
Important Information for Shareholders and Where to Find It
In connection with the proposed Merger, TMTG has filed the Registration Statement with the SEC, which includes a document that serves as a proxy statement of TMTG, a prospectus of TMTG and a consent solicitation statement of TAE (the “proxy statement/prospectus/consent solicitation statement”). The Registration Statement has not yet become effective. This press release is not a substitute for the Registration Statement, the definitive proxy statement/prospectus/consent solicitation statement or any other document that TMTG may file with the SEC in connection with the proposed Merger. INVESTORS AND SECURITY HOLDERS OF TMTG AND TAE ARE URGED TO READ THE REGISTRATION STATEMENT, THE PROXY STATEMENT/PROSPECTUS/CONSENT SOLICITATION STATEMENT AND ALL OTHER RELEVANT DOCUMENTS FILED OR TO BE FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT TMTG, TAE, THE PROPOSED MERGER AND RELATED MATTERS. Shareholders will be able to obtain, free of charge, copies of the Registration Statement and, once available, the definitive proxy statement/prospectus/consent solicitation statement and other documents filed with the SEC by TMTG through the website maintained by the SEC at www.sec.gov, or from TMTG’s investor relations website at ir.tmtgcorp.com.
Participants in the Solicitation
TMTG, TAE and their respective executive officers, directors, other members of management and employees may be deemed, under SEC rules, to be participants in the solicitation of proxies from TMTG’s shareholders with respect to the proposed transaction. Information regarding the respective executive officers and directors of TMTG and TAE is set forth in the Registration Statement and the proxy statement/prospectus/consent solicitation statement contained therein filed with the SEC on September 30, 2026. Other information regarding the participants in the proxy solicitations and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the effective Registration Statement and other relevant materials to be filed with the SEC regarding the proposed transaction when they become available.
No Offer or Solicitation
This press release is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the proposed Merger and is not a substitute for the proxy statement/prospectus/consent solicitation statement or any other document that TMTG may file with the SEC. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, 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 that 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.
Investor Relations Contact
Shannon Devine (MZ Group | Partner - MZ North America)
A federal judge in Washington, D.C., heard arguments on Wednesday on President Donald Trump's controversial ban of three media outlets from the White House.
Judge Timothy Kelly ended the hearing without immediately ruling on a request by the outlets — MS NOW, CNN, Politico — to block Trump from continuing to bar them from the White House.
"I'll consider what you told me today. I'll try and get you an answer as soon as I can," Kelly told a lawyer for the outlets and a Justice Department attorney who defended the ban during the teleconference hearing that lasted about 46 minutes.
The outlets, in a lawsuit against Trump, argue the ban violates the First Amendment of the U.S. Constitution, which protects free press rights by punishing them for the content of stories they have published about Trump and his administration.
"This is a clear retaliation case," Theodore Boutrous Jr., a lawyer representing the outlets, argued at Wednesday's hearing to Kelly, whom Trump nominated for his seat in U.S. District Court in D.C. in 2018.
The Justice Department, in a late Tuesday night filing, said Trump had barred the outlets on the grounds of national security concerns, and that the president had the legal right to do so. Trump did not cite that rationale when he announced the ban last Friday.
Kelly, at the beginning of the hearing, noted a 1977 ruling by the U.S. Court of Appeals for the District of Columbia Circuit had found that media outlets were entitled to due process in any decision affecting an outlet's holding of so-called hard passes to the White House.
The three media outlets were not warned before Trump's announcement that he was considering yanking their hard pass access.
"I think it is fair to say that process ... wasn't followed here, talking about predeprivation process," Kelly said.
The judge noted that the Justice Department, in defending Trump's ban, argued that the 1977 ruling was wrong.
"There wasn't a semblance of due process here," said Boutrous. "This came completely out of the blue."
The attorney said Trump's public statements about the ban back up the outlets' argument that they are being targeted with "viewpoint discrimination" over how they cover the president and his administration.
Boutrous said that in Truth Social posts and in the Oval Office, Trump has said that he implemented the ban because "the coverage is too negative" and "purposely negative."
"He keeps saying the same thing," Boutrous said. "He keeps proving our point. He's literally our lead witness here."
Addressing the Justice Department's argument that the ban is justified on national security grounds, Boutrous said, "They're literally arguing that reporters shouldn't scrutinize national security."
The First Amendment protects the media's right to cover that subject, because "journalists can and should hold the government accountable," the attorney said.
Michael Velchik, an attorney for the Justice Department, opened his argument to Kelly by saying, "Access to the White House is a privilege, not a right."
Velchik also said, "The president should be able to take immediate action to protect national security."
The attorney also said Trump was not acting in retaliation against the three outlets.
"The president criticizes many people," but has only applied the determination that led to his ban to the three outlets, Velchik said.
The attorney noted that Trump has called ABC News "the worst." But the president did not ban ABC from the White House.
The Justice Department, in its court filing Tuesday, appeared to react to the outlets' claim that they had been denied due process by including three separate letters to the outlets that cited the grounds for their purported "initial" banning, and giving them until this Friday to respond to avoid a permanent ban.
Kelly could issue his ruling at any time.
Kelly in 2018 ruled against the White House when he ordered that it restore the access pass of then-CNN correspondent Jim Acosta, who had it revoked after a contentious exchange with Trump.
Trump in announcing the ban Friday, accused the outlets of "cumulative" stories that contained so-called "fake news" about him and his administration.
The ban took effect on Saturday, with journalists from the outlets having their access passes taken away by the Secret Service when they arrived at the White House.
The three outlets jointly sued Trump on Monday.
Disclosure: CNBC and MS NOW are divisions of Versant Media.
Trump Media & Technology Group Corp. (NASDAQ:DJT) is trending after President Donald Trump promised a $5,000 “dividend” to every adult U.S. citizen if Republicans win control of both the House and Senate in the upcoming midterm elections.
Trump Media & Technology stock is showing upward momentum. What’s the outlook for DJT shares? Trump’s $5,000 Midterm PledgeAccording to CNBC, Trump made the pledge Wednesday at the GOP’s midterm convention in Dallas, saying, “if the Republicans win the House of Representatives and the United States Senate, both of them… because of our tremendous strength and success economically, I will issue a dividend to every adult citizen in the United States of America for $5,000.” The proposed payout is estimated to cost more than $1 trillion, raising questions about funding and its impact on the federal budget, which is already running a deficit nearing $1.8 trillion for the fiscal year-to-date.
The proposal could also face legal obstacles. Under federal law, offering payments to induce voting behavior is a criminal offense. CNBC noted that Trump has made similar unfulfilled promises before, including a proposed $5,000 “DOGE dividend” and a $2,000 “tariff rebate,” neither of which materialized.
A Stock Down Nearly 49% Over the Past YearTrump Media & Technology is currently facing a bearish trend, with its price trading below all key moving averages. The 20-day SMA is 2.4% below the price, while the 50-day SMA is 4.3% below, indicating a lack of bullish momentum in the near term.
The RSI is currently at 54.40, which is considered neutral, suggesting that the stock isn’t showing strong momentum in either direction. This level indicates that traders should watch for potential shifts, as a move towards overbought or oversold territory could signal a change in price action.
MACD is below its signal line, indicating bearish pressure on Trump Media & Technology’s stock. This suggests that the momentum is currently favoring sellers, and traders should be cautious about entering long positions until a reversal is confirmed.
Key support is at 8.00, while resistance is at 10.00. If the price approaches support and fails to hold, it could signal further downside, whereas a break above resistance might indicate a potential trend reversal.
Currently, Trump Media & Technology’s stock is in a bearish long-term trend, as evidenced by the 50-day SMA being below the 200-day SMA. This relationship suggests that traders should remain cautious, as the overall trend has been downward.
Over the past 12 months, Trump Media & Technology’s stock has declined by 48.91%, reflecting significant challenges in maintaining upward momentum. This long-term performance underscores the need for traders to be vigilant and consider broader market conditions before making decisions.
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Trump Media & Technology Stock Trades FlatDJT Price Action: At the time of publication, Trump Media and Technology shares are trading 0.34% higher at $8.74, according to data from Benzinga Pro.
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This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Trump Media and Rumble are selling off hard while their own sector wrapper trades green, and the usual suspects like rates and broad risk-off moves do not explain the split.
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Alternative media stocks are diverging from their own peer group today. The wider social platform cohort is holding firm and the broad tape is only fractionally lower, yet two of the sector’s most retail-driven names are being sold in size. That split is the whole story.
The Global X Social Media ETF (NASDAQ:SOCL) is up 0.5% to $45.16. At the same time, the SPDR S&P 500 ETF Trust (NYSEARCA:SPY) is down 0.4% to $770.42, so nothing about today’s tape suggests a broad risk-off move.
Trump Media & Technology Group (NASDAQ:DJT) stock is down 5% to $9.02, extending a year to date (YTD) slide of 32%. Meanwhile, RUM Group (NASDAQ:RUM) stock is falling 3% to $8.76, sliding even as the SOCL ETF trades higher.
Alternative Media Stocks Under Pressure The session handed Trump Media a ready-made excuse, and it doesn’t survive contact with the tape. The Bureau of Labor Statistics reported August nonfarm payrolls rose a seasonally adjusted 162,000, and fed funds futures data now shows 60% odds of a quarter-point rate increase at the Federal Reserve’s September meeting. That backdrop has punished unprofitable, long-duration equities across the week.
However, that mechanism doesn’t clean up today’s action. If rate sensitivity were the driver, SOCL’s long-duration holdings would be under pressure alongside its retail-favorite constituents, and they aren’t. Neither Trump Media nor Rumble has pushed a fresh release into today’s session, so the selling looks idiosyncratic to the alternative media pair.
The tape signal cuts against a macro-only explanation. When yield-driven selling hits the social media cohort, SOCL’s heaviest weightings would drag the fund lower, yet they’re doing the opposite today. Those names are propping up the wrapper’s green print, so blaming rates for a DJT and RUM specific slide doesn’t hold.
Earnings Backdrop Doesn’t Help Trump Media’s most recent print, delivered August 10, showed Q2 2026 revenue of $1.7 million, up 92.5% year over year (YoY), against a net loss of $238.11 million driven by $190.4 million in unrealized losses on digital assets and equity securities and $25.6 million in legal expenses. CEO Kevin McGurn framed the quarter around capital discipline and the proposed TAE Technologies merger targeted for Q4 2026. The Truth API launched August 1 with more than ten customer agreements, though the product has drawn scrutiny from Senate Democrats floating legislation.
Rumble’s Q1 2026 numbers, out on May 14, showed revenue of $25.46 million, missing consensus of $27.09 million, with a loss per share of $0.12. Monthly Active Users hit 56 million, up 8% sequentially, helped by Rumble Shorts. The Northern Data AG deal added approximately 22,400 NVIDIA GPUs to reshape the combined company around media, cloud, and AI infrastructure, and Tether committed $100 million in advertising over two years plus up to $150 million in GPU services purchases.
Scorecard The gap between the pair and their sector wrapper is the actionable read of the session. SOCL’s filing shows Trump Media at 0.4% of net assets and Rumble at 0.7%, so the fund’s larger constituents are what’s holding the wrapper green while both alternative media names sell off.
Ticker Session Longer Anchor DJT down 5% down 32% YTD RUM down 3% Q1 revenue $25.46 million, missed $27.09 million SOCL up 0.5% Holds DJT and RUM as small positions SPY down 0.4% Broad-market benchmark The retail attention around Trump Media is measurable but light. Reddit tracking shows just 14 qualified mentions for DJT in the sampled window with a bullish tilt on low activity, while RUM didn’t clear the sample threshold at all. Thin engagement in names that historically trade on retail flow tells its own story about who’s stepping back.
Forward-looking sentiment for the pair sits near neutral. DJT’s composite reads 49.78 with medium confidence, and RUM’s reads 53.82 on low confidence. Neither name shows crowd conviction in either direction, which makes today’s synchronized selling more notable.
What to Watch Next The signal to check for is whether the alt-media pair reconnects with the social cohort next week or keeps trading on political conversation detached from operating results. DJT’s full-chain put/call ratio sits at 0.26 and RUM’s at 0.14, so options positioning isn’t screaming panic hedging, which argues today’s tape reflects a fading retail bid rather than programmatic de-risking.
Investors sizing their exposure here can keep their positions modest given the beta, the low single-digit share prices, and the political overlay that keeps daily discourse untethered from fundamentals (a little speculation is fine when it’s fenced off with real rules, the kind we spelled out in a free speculation playbook). The next scheduled catalyst for Rumble is its Q3 2026 print, while Trump Media’s next major update is likely tied to closing conditions on the TAE Technologies merger targeted for Q4 2026.
Contact [email protected] for any questions or corrections.
Rising Treasury yields and surging oil prices are creating a punishing combination for speculative small caps, and Trump Media stock is absorbing far more pain than the broader market suggests it should.
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Tuesday’s session opened with a clean risk-off signal across rate-sensitive corners of the market, and speculative small caps are absorbing the brunt of it. A combination of rising long-term Treasury yields, a jump in oil, and thinning appetite for unprofitable names is putting pressure on low-priced, high-beta tickers whose valuations rest on future potential rather than current cash flow.
Trump Media & Technology Group (NASDAQ:DJT) stock is down 3% to $9.48 in morning trading. Coming into the session, DJT shares were already down 26% year to date through Monday’s close, so today’s move extends a weak run rather than breaking a trend. No verified company announcement sits behind the drop.
For scale on the broader market, the SPDR S&P 500 ETF Trust (NYSEARCA:SPY) is down 0.56% to $762.76 in early trading. Meanwhile, the Invesco QQQ Trust (NASDAQ:QQQ) is down 1.18% to $708.27. Trump Media stock is falling many times harder than either broad-market gauge, which points to a beta and liquidity event rather than a fundamental catalyst.
Yields and Oil Squeeze Risk Appetite A global bond selloff has lifted long-term yields, with the 10-year Treasury note yield at 4.78%. Higher yields raise the discount rate applied to future cash flows, which lands harder on speculative equities than on profitable large caps that already generate steady earnings.
Reuters reported on September 1 that oil is rising as renewed U.S.-Iran strikes stoke supply fears, with Brent crude past $91 and the Strait of Hormuz reported shut. Higher energy costs feed inflation expectations, part of what is pushing yields up, and both compress appetite for unprofitable small caps. The two forces layer on each other, which is why the market rewards duration-light, cash-generative names on days like this.
Why Trump Media Reacts More Than the Tape Trump Media sits at the far end of the duration and profitability spectrum. Its valuation rests on future potential rather than current cash generation, so a higher discount rate and a weaker risk appetite hit harder there than on names carrying steady earnings and shorter valuation duration.
The conversation is robust among today’s traders and isn’t necessarily focused on Trump Media’s fundamentals. That absence of a company-specific driver is consistent with a macro-led session shaping the session, not a name-specific catalyst reaching the ticker overnight.
The crypto link matters today, because crypto-adjacent equities are also selling off in this session. CNBC reported on August 10 that Trump Media posted a $238 million second-quarter loss as crypto declines weighed on results, and the Associated Press reported the same day that the company announced a new turnaround effort. Both threads leave the equity more exposed to a macro pullback that pressures digital assets and speculative caps together.
Peer Names and the Sector Frame Rumble (NASDAQ:RUM) is the other listed alternative media platform mapped to the same retail-driven, high-beta bucket. Its float, price level, and beta profile make it a common comparison point whenever risk appetite swings, and its trading pattern often echoes the same discount-rate mechanics that reach DJT.
The Global X Social Media ETF (NASDAQ:SOCL) covers the broader social platform group and holds both Trump Media and Rumble as small weights. Larger positions in global mega-cap social and internet names dominate the fund’s movement, so SOCL usually tracks that broader cohort more than it tracks either alternative media ticker.
What to Watch Market watchers can stay tuned for whether the 10-year yield settles back below 4.75%, whether Brent stabilizes after the Hormuz headlines, and whether Trump Media holds its early lows into the afternoon. Any easing on those macro inputs would carry more weight than a single company data point on a session like this one.
For position sizing, low-priced, high-beta small caps carry outsized session risk on risk-off tapes. Investors should size any DJT or RUM exposure to their tolerance for double-digit intraday swings and treat liquidity, not fundamentals, as the near-term driver here. A tight risk budget and pre-set stop levels fit this profile better than open-ended holds (we laid out the sizing and rules for keeping a speculative sleeve small in a free playbook).
Contact [email protected] for any questions or corrections.
Yorkville America, the asset manager behind President Donald Trump's Truth Social exchange-traded funds, is close to completing an acquisition aimed at broadening its product range, the firm's CEO Steve Neamtz told Reuters.
Neamtz, who joined the firm in December 2025, said the transaction will serve as a cornerstone of Yorkville's strategic growth as it widens its focus beyond the America First-themed ETFs now managed under the Truth Social label. The deal should be completed in September.
The planned acquisition and new product launches mark an effort by Yorkville to move beyond the politically branded funds that first put it on the map.
"We're in the final stages of closing a deal with an institutional asset management firm that primarily has been in the separately managed accounts business," Neamtz said. He declined to name the firm, citing ongoing talks. Separately managed accounts are customized portfolios for individual investors.
Yorkville is one of only a small number of ETF providers to have jumped into the business within the last year or two by offering a broad range of funds rather than focusing on more niche segments of the market, such as leveraged products or funds that aim to deliver a specific pattern of returns or income. Its existing lineup ranges from energy and defense ETFs to real estate and companies with iconic brands.
A step in that direction is the launch on Monday of the MANGOS Plus Index ETF, which Yorkville will list on both the NYSE and its new division, NYSE Texas. The fund, the first Yorkville will manage outside the Truth Social brand, targets some of the market's most popular stocks: those linked to the development and rollout of AI.
The fund will track an index consisting not just of the MANGOS companies (Meta (META.O), Anthropic, Nvidia (NVDA.O), Google parent Alphabet (GOOGL.O), OpenAI and SpaceX (SPCX.O)) but also an assortment of other stocks tied to the AI theme, a list that currently includes Micron (MU.O) and SanDisk (SNDK.O).
To get exposure to the two pre-IPO companies, Anthropic and OpenAI, the fund will use perpetual futures contracts, a type of derivative that tracks an asset's price without an expiration date, tied to each of the two firms.
"This will be the first launch in our digital and crypto category of products," Neamtz said.
Yorkville has filed to launch another dozen ETFs in the coming weeks and months, ranging from other funds tied to the digital economy to products based on macro strategies.
Rumble stock is taking a sharp hit Wednesday morning with no news, no filing, and no analyst action to explain it, while the name most traders assume moves with it is barely reacting at all.
Profit-taking is sweeping through Rumble on Wednesday morning after a blistering one-month advance, while the broader NASDAQ 100 barely budges. Invesco QQQ Trust (NASDAQ:QQQ) is up 0.1% to $711.63, which removes any sector-wide alibi for what’s happening in Rumble stock. This one is name-specific.
Rumble (NASDAQ:RUM) stock is down 7% to $9.53 in early Wednesday trade after climbing 79% over the past month through Tuesday’s close. Meanwhile, the other name commonly associated with the same political orbit, Trump Media & Technology Group (NASDAQ:DJT), is barely moving. Trump Media stock is up 0.4% to $9.44, a session change that doesn’t read across from Rumble’s giveback in any meaningful way.
Profit-Taking Cools a 79% Monthly Run There’s no fresh Rumble disclosure, filing, or analyst action behind today’s decline. The mechanism is plain profit-taking after a very large one-month advance, and no new company news is driving the move. Traders who rode Rumble stock through a 79% monthly run have reason to trim their positions when momentum stalls.
Rumble’s advance this month followed management commentary around its cloud and AI infrastructure ambitions, including remarks positioning the company against established AI cloud providers. That narrative fueled the size of the run and drew fresh momentum capital into the stock. Today’s session sits inside that trend as a routine giveback within the broader story.
A 7% single-session pullback in a name that has climbed 79% in a month sits inside the normal range of momentum-stock behavior. It doesn’t require an external catalyst to explain, and the session today confirms that read.
Divergence With Trump Media Tells the Story Both Rumble and Trump Media get grouped together on political association, yet their share prices haven’t been trading as a pair. Rumble stock ran 79% over the past month through Tuesday’s close. Trump Media stock was down 29% year to date (YTD) through Tuesday’s close, a very different path.
Rumble’s move is being driven by an infrastructure story around cloud and GPUs that Trump Media has no equivalent business line to match. That is the analytical core of the divergence, and it explains why a profit-taking session in Rumble reads across to Trump Media not at all. Trump Media stock is only marginally higher this morning even as Rumble stock is dropping 7%, a reasonable session pairing given the underlying business separation.
What to Watch Next Rumble and Trump Media are both low-priced, high-volatility names where a large monthly advance can reverse quickly. Traders can watch for whether Rumble stock stabilizes into the afternoon or whether the profit-taking accelerates as more short-term holders take their gains off the table. The QQQ’s quiet session removes any macro cover for the move, so any further downside will read as name-specific.
Investors should size their positions carefully in names of this profile (we wrote a full playbook on speculating with just 5% of a portfolio, here). A 79% one-month advance carries mechanical selling pressure once momentum stalls, and a 7% single-session giveback can extend without any headline attached to it.
Shareholders may want to keep an eye on whether Trump Media stock continues to trade independently of Rumble stock in coming sessions, since that pattern would confirm the two names are being priced on different fundamentals rather than on shared political sentiment.
Contact [email protected] for any questions or corrections.
Deutsche Bank AG bought a new stake in Trump Media & Technology Group Corp. (NASDAQ:DJT – Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 171,605 shares of the company’s stock, valued at approximately $1,328,000. Deutsche Bank AG owned approximately 0.06% of Trump Media & Technology Group at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. Motiv8 Investments LLC bought a new stake in shares of Trump Media & Technology Group during the 4th quarter worth $30,000. Global Assets Advisory LLC purchased a new stake in Trump Media & Technology Group during the first quarter valued at about $34,000. Root Financial Partners LLC increased its position in shares of Trump Media & Technology Group by 44,011.1% during the 1st quarter. Root Financial Partners LLC now owns 3,970 shares of the company’s stock valued at $37,000 after purchasing an additional 3,961 shares during the last quarter. International Assets Investment Management LLC bought a new position in shares of Trump Media & Technology Group during the 4th quarter valued at about $40,000. Finally, Larson Financial Group LLC raised its holdings in shares of Trump Media & Technology Group by 70.7% during the 4th quarter. Larson Financial Group LLC now owns 3,104 shares of the company’s stock valued at $41,000 after buying an additional 1,286 shares in the last quarter. 4.29% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Trump Media & Technology Group in a research note on Friday, July 31st. One research analyst has rated the stock with a Sell rating, According to MarketBeat, Trump Media & Technology Group currently has an average rating of “Sell”.
Get Our Latest Stock Analysis on Trump Media & Technology Group Trump Media & Technology Group Trading Down 1.3% Shares of Trump Media & Technology Group stock opened at $9.64 on Friday. Trump Media & Technology Group Corp. has a 12-month low of $6.96 and a 12-month high of $18.00. The company’s fifty day simple moving average is $8.92 and its two-hundred day simple moving average is $9.22. The company has a market cap of $2.68 billion, a P/E ratio of -1.97 and a beta of 4.07.
(Free Report)
Trump Media & Technology Group (NASDAQ: DJT) is a U.S.-based digital media and technology company focused on social networking and content distribution. The firm’s flagship offering, Truth Social, is designed as an alternative social media platform with features for user-generated posts, direct messaging and community engagement. In addition to its core social network, TMTG has signaled plans for a subscription-based streaming service and other digital content ventures under the TMTG+ brand, aiming to expand its multimedia footprint.
Founded in October 2021 by former President Donald J.
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Interim CEO Kevin McGurn at Trump Media & Technology Group (NASDAQ:DJT) used a television appearance on CNBC to defend the company’s newest revenue product, the Truth API, describing the underlying technology as standard practice across large social platforms. Speaking on CNBC on August 24, 2026, roughly four months into the role, McGurn framed the paid data feed as a response to institutional demand and a scalable licensing opportunity for the company.
The product, which launched on August 1, 2026, offers institutional customers low-latency access to public Truth Social posts. Trump Media disclosed more than ten customer agreements at the time of its Q2 report, and McGurn told CNBC the company had signed one of the largest financial data and information distributors at the end of last week.
McGurn’s Three-Part Defense of the Truth API McGurn’s argument rested on three points:
First, he characterized the demand as organic: “This was demand that came to us from the market. So we wanted to make sure that we satisfy that demand in the most brightly lit way for us.”
Second, he described the underlying technology as commonplace across social media: “The technology is a tried and true technology that’s been in the social media system for quite some time, more than a decade. So all of your big platforms run APIs into high frequency trading platforms, news and information services, prediction markets, you name it.”
Third, he framed the 50 millisecond speed advantage as a byproduct of internet delivery paths: “His information goes out all over the internet. It starts on Truth Social. It goes to Twitter, it goes to Reddit, and it goes to Instagram and TikTok. We give a 50 millisecond advantage in that post, but that is the internet delivery, right?”
He drew an analogy to legacy news access: “It’s the same reason why you have reporters on Air Force One. It’s the same reason why you have a White House press room, to get closer to the information.” McGurn did not directly address the central concern raised by critics, that family ownership of the company creates a conflict-of-interest question when institutional traders get earlier access to potentially market-moving presidential statements.
Congress and the Courts Are Starting to Push Back Senate Democrats have proposed legislation targeting the Truth API, and lawsuits have been filed alleging the president is unconstitutionally monetizing his position. These remain allegations and pending matters.
Economist Peter Schiff has publicly argued that presidential ownership makes the arrangement “not standard,” a view McGurn’s industry-comparison framing implicitly contests.
Trump Media Wants to Take the API From Wall Street to Main Street CEO McGurn outlined plans to expand distribution: “We want to license this not just to high-frequency trading platforms, but to retail trading platforms. So you take it from Wall Street to Main Street, and then go on to other types of information services.” He mentioned large language models and prediction markets as additional targets.
Trump Media reported Q2 revenue of $1.70 million, up 92.46% year over year, and a net loss of $238.11 million driven largely by $190.40 million in non-cash unrealized losses on digital assets and equity securities, per the Q2 earnings release. Shares closed at $9.30 on August 22, down 29.76% year to date and 47.64% over the trailing year.
Key Takeaways The open question for investors is whether Truth API revenue can scale into retail brokers, LLMs, prediction markets, and major data distributors while regulatory and legal scrutiny remains unresolved. McGurn, who has worked in the media business for almost 30 years, is betting the answer is yes. Watch quarterly disclosures on customer count and Truth API bookings, alongside the proposed Q4 2026 close of the TAE Technologies merger, for the next update.
Contact [email protected] for any questions or corrections.
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RUM Group (NASDAQ:RUM) stock is up 7% to $9.68 midday Monday after the company said it signed a commercial agreement worth approximately $13.7 billion to supply GPUs and GPU services to an unnamed U.S.-based cloud customer. The number is enormous next to a company doing $25.46 million in Q1 2026 revenue. Through Friday’s close, shares were up 43% year to date.
Meanwhile, Trump Media & Technology Group (NASDAQ:DJT) stock is up 2% to $9.26, a muted reaction from a name still linked to RUM Group in retail circles but running a very different business. Trump Media stock was down 31% year to date through Friday’s close.
The Global X Data Center & Digital Infrastructure ETF (NASDAQ:DTCR) is down 1% to $27.99, so the broader data center complex is lower on the session. This is a single-company contract event rather than a bid for the infrastructure theme.
Inside the $13.7 Billion GPU Deal The order value splits evenly across three tranches over six years, drawn from RUM Group’s Maysville, Georgia site, which is currently under development. Only the third tranche becomes binding once the customer reviews and approves the company’s proposed delivery date, so a meaningful slice of the headline number is still conditional.
RUM Group also entered a binding warrant term sheet with the customer on Sunday, August 23. The term sheet grants the customer a warrant to acquire up to 50.81 million Class A shares at an exercise price of $0.01 per share, with half vesting in three equal tranches as purchases complete and the other half vesting across five expansion tranches of 10% each, contingent on volumes exceeding two and a half times the initial delivery. Any unvested portion terminates if the agreements expire or the customer commits an uncured material payment breach.
Financing Gap Is the Open Question The company said plainly it currently lacks the funds necessary to fulfill the contract and plans to raise capital through debt or equity. That admission sits alongside the warrant as a second potential call on the equity, and it’s the central unresolved variable in the story.
The business itself was reshaped in June, when Rumble began operating as RUM Group after closing its acquisition of the German AI cloud company Northern Data. That deal added about 22,400 NVIDIA (NASDAQ:NVDA | NVDA Price Prediction) GPUs, including H100s and H200s, and created the AI infrastructure business this new contract runs through.
RUM and DJT Have Separated Trump Media is RUM Group’s closest peer by association rather than by business, and the muted move today underscores how far the two have drifted. RUM Group has become a data center and GPU infrastructure story. Its business remains media, streaming, and financial services, pursuing a merger with fusion energy firm TAE Technologies.
DTCR shares trading lower while RUM Group stock climbs reinforces that this is not a theme trade, though the power, cooling, and networking companies behind the AI buildout keep showing up in our free AI infrastructure report. The broader data center basket isn’t benefitting today, so the flows are targeted at the single-name contract announcement.
Position Sizing Into a Conditional Number The immediate question is how RUM Group funds the buildout. Traders can watch for whether management outlines a capital raise, its size, and whether it leans on debt or equity, since either path affects how the warrant math plays out from here.
While the contract is real, the third tranche is conditional and the financing is unresolved. Investors should consider keeping their position sizes modest here, since the reward case runs through both a large construction program and an equity structure that now carries an extra layer.
Contact [email protected] for any questions or corrections.
Trump Media interim CEO Kevin McGurn on Monday defended his company offering faster access to President Donald Trump's Truth Social posts, and said more customers have signed up for the pricey and controversial service.
"We're getting into the mid-teens now, and we're climbing," McGurn told CNBC's "Squawk Box" when asked if more companies had started paying for the service dubbed Truth API, which costs up to $100,000 per month.
That's an increase from two weeks earlier, when McGurn said in Trump Media's first-ever quarterly earnings call that "more than 10" customer agreements had been signed. The service went live on Aug. 1.
Truth API has garnered intense scrutiny from critics who argue that since the president often makes market-moving announcements through his Truth Social account, the service effectively lets deep-pocketed firms trade on valuable information before the rest of the public. Trump is a top shareholder in TMTG, with his stake being held in a revocable trust.
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Two Trump-adjacent alternative-media platforms are converging on the same share price from opposite directions Friday, and the split reveals how the market is scoring their capital-allocation choices. RUM Group (NASDAQ:RUM) stock is up 7% to $9.04 in Friday midday trading, extending an AI-fueled rally. Meanwhile, Trump Media & Technology Group (NASDAQ:DJT) stock is climbing 6% to $9.03, a rare green day for a name that has bled through most of 2026. Notably, the Global X Data Center and Digital Infrastructure ETF (NASDAQ:DTCR) is down 0.5% to $28.35, isolating this as a single-name repricing on RUM Group’s pivot alone.
Both RUM Group and Trump Media started 2026 as small-revenue, Trump-adjacent media platforms sitting on large cash piles. Each pivoted its balance sheet into a capital-intensive hard-asset thesis over the past 12 months, and the market has picked a clear winner.
Northern Data Deal Powers RUM Group’s AI Reset RUM Group closed its $767 million acquisition of Northern Data AG in June and rebranded from Rumble Inc., unveiling a cloud and AI compute unit called Quake AI. The deal brought roughly 22,000 NVIDIA (NASDAQ:NVDA | NVDA Price Prediction) H100 and H200 GPUs and more than 200 megawatts of unmonetized energy capacity onto the platform, reframing RUM Group as a full-stack AI infrastructure provider layered over the original Rumble video business.
Furthermore, RUM Group’s second-quarter revenue grew 61% to $40.366 million from $25.08 million a year earlier, and management guided Q3 2026 revenue to a range of $87 million to $93 million. Management pointed to a “3 billion plus annual run rate opportunity” if the full 250 megawatts of capacity is monetized on AI compute as a service.
CEO Chris Pavlovski said RUM Group now has “over 200 MW of unmonetized energy capacity and substantial contracted revenue across Rumble,” framing the pivot as an anchor-tenant-validated buildout. Quake AI’s existing GPU estate is running above 85% utilization, and a multi-year Together AI deal for NVIDIA HGX B300 capacity anchors near-term supply. That power-and-GPU angle is the same non-chipmaker AI supplier thesis we mapped in a free report on seven stocks powering the AI boom.
Trump Media Walks Away From Bitcoin Trump Media took the opposite route with its balance sheet. The company abandoned its Bitcoin treasury strategy in August after roughly $190 million in paper losses, redirecting capital toward Truth Social, Truth+, and its new Truth API data feed under interim CEO Kevin McGurn.
The Q2 2026 report was rough. Trump Media reported a second-quarter net loss of $238 million driven almost entirely by paper losses on crypto holdings, against trailing 12-month revenue of $4.5 million. Truth Social generated $1.7 million in revenue last quarter.
Truth API, launched August 1, 2026, provides a low-latency B2B data feed of Truth Social posts and is already generating revenue with more than ten customer agreements signed. Trump Media has agreed to acquire TAE Technologies, a private nuclear fusion firm, with a close targeted by year-end.
Why the Split Is So Stark Both companies are small-revenue alt-media platforms pivoting into capital-intensive hard assets, and the market has judged the two paths starkly. RUM Group stock was up 33% year to date through Thursday’s close after buying GPUs and power. On the other hand, Trump Media stock was down 36% year to date through Thursday’s close after buying Bitcoin, taking the loss, and shifting into fusion energy.
Friday’s action puts RUM Group and Trump Media shares within a penny of each other from opposite trajectories. Identical share prices, opposite year-to-date scorecards, and one clear story about what the AI infrastructure trade is rewarding right now. The Global X ETF was up 35% year to date through Thursday’s close, so even the sector’s strong 2026 hasn’t lifted DJT alongside its adjacent theme.
What to Watch Now RUM Group must convert Quake AI’s utilization and the Together AI Blackwell contract into the guided Q3 revenue range. Trump Media must close its TAE Technologies merger and prove Truth API can scale beyond the ten-plus customer agreements already signed.
Investors could look for signs that RUM Group’s midday bid holds into the close, since single-name AI repricings often fade when the sector ETF sits flat. Traders may want to keep an eye on whether Trump Media’s rally is a genuine reset or a short-cover bounce inside a broader downtrend.
Position sizing should reflect that both RUM Group and Trump Media remain small-revenue, high-volatility bets. Moderate exposure is defensible even for bulls on the AI compute story, and pairing the two on opposite sides isolates the pivot-quality gap that Friday’s tape is pricing.
Contact [email protected] for any questions or corrections.
Trump Media stock has come under intense pressure this month as it continued to underperform the broader market. DJT dropped to $8, its lowest level since July 8 and 40% lower than where it started the year. This sell-off may push it into penny stock status in the next 12 months.
Trump Media may become a penny stock because of its revenues and substantial losses. A recent report showed that it made just $1.7 million in the last quarter, a tiny amount for a company that was started five years ago. At the same time, it reported a quarterly loss of over $238 million.
Worse, there are signs that this slow revenue growth will persist over time as the number of Truth Social users continues to dwindle. SimilarWeb data shows that traffic to the website tumbled by 20% in July to just 15 million.
This weakness has coincided with the ongoing approval rating of the US president. Recent data shows that his approval rating has dropped to the lowest level on record, with his support falling across various demographics. For example, a Politico poll showed that he was losing support of MAGA voters.
Trump has lost the support of both sides of the Republican base. Neocons argue that he has not pushed Iran further enough, while anti-war Republicans criticize him for starting a new war. Also, he has been criticized for his vanity projects and the ongoing inflation concerns.
Another crucial risk is that Trump Media will be investigated by Democrats if they win either the House of Representatives or the Senate.
A key part of this investigation will be on the recently launched Truth API, a service that fives subscribers early access to President Trump’s posts. Launched recently, and costing between $60,000 and $100,000 a month. In a recent statement, the company said that it had acquired about 10 clients in the trading industry.
Democrats will investigate whether the service has broken any laws. Even if the service is successful, it will have a short shelf life because Trump’s presidential term ends in the next two years.
Additionally, Trump Media’s crypto pivot has flopped. For one, its plans to launch several crypto ETFs in a partnership with Crypto.com failed because of the ongoing crypto winter.
The company’s decision to invest in Bitcoin also failed as the coin has slumped from a record high of $126,300 to the current $64,000. This means that the value of its 12,062 coins has dropped from over $1.5 billion to the current $771 million.
While these crypto holdings are still valuable, they are offset by the huge losses the company is making. As a result, there is a risk that it will need to sell shares to raise capital.
DJT stock chart | Source: TradingView
Technicals also suggest that the DJT stock may have more downside to go in the near term. It has formed a rising wedge pattern, which is made up of two rising and converging trendlines. This pattern normally leads to more downside.
The stock has also moved to the strong, pivot, reverse level of the Murrey Math Lines. In the long term, the most likely scenario is where it drops to the ultimate support of $6.25 followed by the extreme oversold of $4.65.
General Counsel Scott Glabe disposed of 25,546 shares of Trump Media & Technology Group Corp. (DJT -0.36%) on August 13, according to a recent SEC Form 4 filing.
Transaction summaryMetricValueTransaction value$212,543Shares sold25,546Post-transaction shares (directly held)586,497Post-transaction value$4.87 millionTransaction value based on SEC Form 4 weighted average sale price ($8.32); post-transaction value based on the August 13 market close ($8.30).
Key questionsWhat was the catalyst for this disposition of shares?
The transaction was a non-discretionary execution to cover tax withholding obligations tied to the vesting of equity awards. This type of activity is an automated administrative process and does not reflect a discretionary trade based on market conditions or the insider's outlook on the company valuation.What is the scale of the insider's remaining equity interest?
Following this transaction, Glabe maintains a direct ownership position of 586,497 shares, which represents approximately 0.21% of the company. These holdings include restricted stock units that remain subject to the terms of the firm's equity incentive plan.How has the stock performed leading up to this transaction?
Shares of the company have seen a one-year return of -54% as of the August 13 transaction date. The equity was priced at $8.27 at the August 12 market close, while the weighted average price for this disposition was $8.32 per share.What are the fundamental financial metrics of the issuer?
The company has trailing 12-month revenue of $4.5 million and a net loss of $1.3 billion. Company OverviewMetricValueShare Price (as of market close 2026-08-12)$8.27Market Capitalization$2.3 billionRevenue (TTM)$4.5 millionNet Income (TTM)-$1.3 billionCompany SnapshotTrump Media & Technology Group operates Truth Social, a social networking platform that generates revenue through digital advertising and user engagement services within the United States market.The company's business model centers on building and monetizing a proprietary social media platform designed to serve users seeking an alternative to mainstream social networks.The platform targets a defined demographic of users in the United States seeking social networking services aligned with specific ideological preferences.Trump Media & Technology Group Corp., founded in 2021 and headquartered in Sarasota, Florida, operates Truth Social as its primary digital asset. With a market capitalization of $2.3 billion and minimal current revenue generation of $4.5 million TTM, the company remains in an early stage development phase with substantial operating losses. The organization is focused on scaling its social networking platform to achieve profitability and establish competitive positioning within the crowded social media landscape.
What this transaction means for investorsTrump Media, whose Truth Social platform brought in $1.7 million last quarter, has agreed to acquire TAE Technologies, a nuclear fusion energy company, in a deal it aims to close by year-end. That is a social media firm turned Bitcoin holder now reaching for fusion power, which is the context that makes any single insider filing here almost beside the point, especially given the type of withholding transaction this ultimately is.
Investors should note that the financials underneath are stark. The company posted a $238 million second-quarter net loss, driven almost entirely by paper losses on the roughly 14,139 bitcoin it now holds, and its stock has fallen more than 50% over the past year. Interim CEO Kevin McGurn said the company has "refined" its approach to capital allocation. Between the Bitcoin treasury and the pending fusion merger, Truth Social itself has become almost a footnote to the balance sheet and the deals.
What a shareholder actually owns here is a wager on Bitcoin's price and an unproven fusion acquisition, with a social platform attached that has the backing of the sitting U.S. president. With all that in mind, Glabe trimming a few thousand shares for taxes says nothing about how any of those bets resolve.
Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
Kevin McGurn, the company's interim CEO, reported the disposition of 16,509 shares of Trump Media & Technology Group Corp. (DJT -0.36%) on August 13, according to an SEC Form 4 filing.
Transaction summaryMetricValueTransaction value$137,520Shares sold16,509Post-transaction shares (directly held)120,811Post-transaction value$1.00 millionTransaction value based on SEC Form 4 weighted average sale price ($8.33); post-transaction value based on the August 13 market close ($8.30).
Key questionsWhat triggered this specific disposal of equity?
The transaction was a non-discretionary execution to cover tax withholding obligations resulting from the settlement of restricted stock units. No open-market sales occurred, and the interim CEO received no cash proceeds from the event, which was an automatic consequence of equity vesting.How does this impact the insider's total direct position?
After the disposal of 16,509 shares, McGurn retains a direct ownership of 120,811 shares. This remaining stake represents a roughly 0.04% interest in the company and is the primary component of his disclosed beneficial ownership, as no indirect holdings or separate derivative counts were reported in the current filing.What are the terms governing the insider's remaining restricted equity?
Footnotes in the filing clarify that a portion of the reporting person's holdings consists of restricted stock units. These units represent contingent rights to receive common stock, subject to vesting schedules and the conditions of the company's 2024 equity incentive plan.Company OverviewMetricValueShare Price (as of market close 2026-08-12)$8.27Market Capitalization$2.3 billionRevenue (TTM)$4.5 millionNet Income (TTM)-$1.3 billionCompany SnapshotTrump Media & Technology Group operates Truth Social, a social networking platform that generates revenue through digital advertising and user engagement services within the United States market.The company's business model centers on building and monetizing a proprietary social media platform designed to serve users seeking an alternative to mainstream social networks.The platform targets a defined demographic of users in the United States seeking social networking services aligned with specific ideological preferences.Trump Media & Technology Group Corp., founded in 2021 and headquartered in Sarasota, Florida, operates Truth Social as its primary digital asset. With a market capitalization of $2.3 billion and minimal current revenue generation of $4.5 million TTM, the company remains in an early stage development phase with substantial operating losses. The organization is focused on scaling its social networking platform to achieve profitability and establish competitive positioning within the crowded social media landscape.
What this transaction means for investorsA withholding this small from an interim CEO barely registers on its own, but it's worth noting that the transaction lands as Trump Media is remaking what it fundamentally is. The company is pivoting from a money-losing social media operation into something closer to a Bitcoin holding company, and that shift now drives nearly everything about the stock, including a share price that has fallen more than 50% over the past year.
The scale of the transformation is stark. Truth Social generated just $1.7 million in second-quarter revenue, while the company reported a $238 million net loss, almost entirely from mark-to-market declines on its digital-asset holdings. It holds roughly 14,139 Bitcoin after buying more in July, so the balance sheet is effectively the business now, with McGurn saying the company has "refined" its approach to capital allocation. Meanwhile, the company has also pivoted again within crypto, walking away from a planned Cronos treasury venture and moving toward third-party institutional management of its coins, along with pursuing a proposed merger with nuclear fusion firm TAE Technologies.
Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
Vladimir Novachki, the chief technology officer of Trump Media & Technology Group Corp. (DJT -0.36%), disposed of 29,957 shares of common stock on August 13, according to a recent SEC Form 4 filing.
Transaction summaryMetricValueShares sold (direct)29,957Transaction value$249,542Post-transaction shares (directly held)914,244Post-transaction value$7.6 millionTransaction value based on SEC Form 4 weighted average sale price ($8.33); post-transaction value based on the August 13 market close ($8.30).
Key questionsWhat was the nature of the transaction reported by Vladimir Novachki?
The disposal of 29,957 shares was a non-discretionary transaction carried out solely to satisfy tax withholding requirements. No cash proceeds were received by the chief technology officer in connection with this automatic disposition, which was triggered by the vesting of restricted stock units.How does this disposition affect the insider's total equity exposure?
Following the transaction, Novachki continues to hold about 914,000 shares directly, representing a 0.33% ownership stake in the company. This holding is valued at $7.6 million based on the August 13 market close, maintaining significant alignment with long-term shareholder value.What is the context of the insider's remaining equity compensation?
The executive's reported holdings include restricted stock units that carry a contingent right to receive common stock upon vesting. These awards are governed by the firm's Amended and Restated 2024 Equity Incentive Plan and ensure ongoing equity participation for the technical leadership.How has the stock performed leading up to this filing?
As of the August 13 transaction date, shares of Trump Media have seen a 54% decline over the trailing 12-month period. The company maintains a market capitalization of $2.3 billion based on the August 12 market close.Company OverviewMetricValueShare Price (as of market close 2026-08-12)$8.27Market Capitalization$2.3 billionRevenue (TTM)$4.5 millionNet Income (TTM)-$1.3 billionCompany SnapshotTrump Media & Technology Group operates Truth Social, a social networking platform that generates revenue through digital advertising and user engagement services within the United States market.The company's business model centers on building and monetizing a proprietary social media platform designed to serve users seeking an alternative to mainstream social networks.The platform targets a defined demographic of users in the United States seeking social networking services aligned with specific ideological preferences.Trump Media & Technology Group Corp., founded in 2021 and headquartered in Sarasota, Florida, operates Truth Social as its primary digital asset. With a market capitalization of $2.3 billion and minimal current revenue generation of $4.5 million TTM, the company remains in an early stage development phase with substantial operating losses. The organization is focused on scaling its social networking platform to achieve profitability and establish competitive positioning within the crowded social media landscape.
What this transaction means for investorsNovachki runs technology at Trump Media, which is a notable seat to hold at a company where the technology hasn't exactly yet found its place for the company. The Truth Social platform generated $1.7 million in second-quarter revenue, a rounding error next to the roughly 14,139 bitcoin now sitting on the balance sheet and the fusion-energy company the firm has agreed to buy. Still, his filing is a tax withholding on vested stock, so there was no cash taken and no decision made, and this wasn't a call on the company at all.
Meanwhile, the numbers show where the weight has shifted. Trump Media lost $238 million last quarter, almost all of it paper losses on its crypto holdings, and the stock has dropped 54% over the past year. Alongside the Bitcoin treasury, the company has agreed to acquire TAE Technologies, a nuclear fusion developer, in a deal it hopes to close by year-end. For anyone holding the stock, the platform Novachki builds is now the smallest of three bets, behind a pile of Bitcoin and an unproven fusion merger, though it has moved to monetize access to posts from President Donald Trump and other top users (with 10 customers disclosed as of the latest earnings call), and its price will ultimately likely track those two other bets more than anything happening on Truth Social.
Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
Shares of Trump Media & Technology (DJT +0.96%) fell 18.1% this week, according to data from S&P Global Market Intelligence. The holding company for the Trump family media businesses reported earnings earlier this week, posting large losses on its cryptocurrency assets as it searches for a business model.
Shares are now down 87% from the time of Trump Media's merger with a special purpose acquisition corporation (SPAC) in March of 2024. Here's why shares fell this week, and whether now is a good time to buy the dip.
Today's Change
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Selling posts, huge losses On August 10, Trump Media & Technology reported its Q2 earnings. The company generated just $1.7 million in revenue in the quarter, mainly from advertising on the Truth Social platform. However, it had a net loss of $238 million, mainly due to the decline in digital cryptocurrency assets held on its balance sheet, such as Bitcoin.
The company has two new initiatives for the rest of this year. First is the merger with a nuclear fusion company called TAE Technologies, which it expects to close later this year. This is a peculiar merger, as it is a deep technology start-up that generates close to zero revenue and is working on a technology that has never been solved before.
Second, the company is trying to sell investment firms the Truth+ API for upwards of $100,000 a month, which would give immediate access to President Trump's posts on the platform. The service is already being scrutinized closely by the media and courts, as it appears to be a way to sell potentially market-moving information before the wider public sees it.
Image source: Getty Images.
Should you buy the dip? The stock still has a market cap of $2.3 billion and barely any business model today. It has cash and cryptocurrencies on the balance sheet, but the net book value is still around half of where the shares trade today.
Add it up, and investors would be smart to avoid buying the dip on Trump Media & Technology stock today.
Brett Schafer has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
President Trump has an unprecedented array of income streams pouring right into the Oval Office, but a lucrative new scheme may run afoul of the Constitution.
Phillip Juhan, Chief Financial Officer of Trump Media & Technology Group Corp. (DJT +0.36%), reported the disposition of 18,817 shares on August 13, 2026 per the SEC Form 4 filing.
Transaction summaryMetricValueTransaction value~$157,000Shares sold (directly held)18,817Post-transaction shares (directly held)581,749Post-transaction value~$4.8 millionInsider ownership0.21%Transaction value based on SEC Form 4 weighted average sale price ($8.33); post-transaction value based on August 13, 2026 market close ($8.30).
Key questionsWas this a discretionary market sale by the CFO?
No, the transaction was an automated sell-to-cover event to satisfy tax obligations, which does not reflect the insider's discretionary outlook on the company's valuation or future performance.What is the nature of the insider's remaining equity exposure?
Phillip Juhan continues to hold 581,749 shares directly, and the CFO also holds derivative securities in the form of restricted stock units that remain subject to future vesting schedules.How has the equity performed relative to this liquidity event?
As of the August 13, 2026 transaction date, the shares have declined 54% over the preceding 12 months.What was the execution context for this trade?
The 18,817 shares were disposed of in multiple transactions at prices ranging from $8.16 to $8.49, resulting in the reported weighted average price of $8.33 per share.Company OverviewMetricValueShare Price (as of market close 2026-08-12)$8.27Market Capitalization$2.3 billionRevenue (TTM)$4.5 millionNet Income (TTM)-$1.3 billionCompany SnapshotTrump Media & Technology Group operates Truth Social, a social networking platform that generates revenue through digital advertising and user engagement services within the United States market.The company's business model centers on building and monetizing a proprietary social media platform designed to serve users seeking an alternative to mainstream social networks.The platform targets a defined demographic of users in the United States seeking social networking services aligned with specific ideological preferences.Trump Media & Technology Group Corp., founded in 2021 and headquartered in Sarasota, Florida, operates Truth Social as its primary digital asset. With a market cap of $2.3 billion and minimal revenue generation of $4.5 million over the trailing 12 months, the company remains in an early-stage development phase with substantial operating losses.
The organization is focused on scaling its social networking platform to establish competitive positioning within the crowded social media landscape as it prepares for a merger with TAE Technologies.
What this transaction means for investorsThe August 13 sale of Trump Media stock by CFO Phillip Juhan occurred a few days after the company terminated its previously announced proposed business combination with Crypto.com. Instead, Trump Media’s foray into cryptocurrency will be put aside in favor of a planned merger with TAE Technologies, a privately-held fusion energy enterprise. The deal is expected to close in the fourth quarter.
However, Juhan’s disposition is an unrelated event, as it was a non-discretionary transaction executed to fulfill tax withholding obligations associated with the vesting of restricted stock units (RSUs). The CFO maintained a sizable 581,749 directly-held shares post-disposal, including unvested RSUs, ensuring continued alignment with shareholder interests.
Trump Media posted Q2 sales of $1.7 million, up from $883,300 in the prior year. Even so, the company’s net loss ballooned to $238.1 million from 2025’s loss of $20 million as the value of its cryptocurrency declined.
Trump Media’s efforts to grow its business have met with setbacks, such as the termination of the partnership with Crypto.com. Its path forward to long-term prosperity now seems entirely dependent on its merger with TAE Technologies.
Robert Izquierdo has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
Three names stood out among Wednesday’s decliners heading into the close. Trump Media & Technology Group (NASDAQ:DJT), Joby Aviation (NYSE:JOBY | JOBY Price Prediction), and Archer Aviation (NYSE:ACHR) all finished the regular session sharply lower, with declines ranging from roughly 5% to more than 7%. With the VIX sitting near 15, today’s weakness reads as company and sector-specific rather than a broad market event.
Trump Media Extends A Rough Week DJT is trading around $8.27, down roughly 7% on the day and about 17% over the past week. There is no single clean catalyst tied to today’s move. The stock is still absorbing a run of headline pressure that started with Monday’s earnings, when the company posted a Q2 net loss of $238.11 million on just $1.70 million of revenue, driven by $190.40 million in non-cash unrealized losses on digital assets and equity securities.
Layered on top of that earnings report: Truth Social monthly visitors have declined roughly 36% compared to the prior year, the new Truth API service that sells fast access to posts for up to $100,000 per month has drawn SEC probe requests from Senators Warren and Schiff and a proposed “Stop Corrupt Trading Act”, and management is pivoting away from crypto arrangements toward a proposed merger with fusion energy firm TAE Technologies, targeted to close in Q4 2026.
Joby Slides As The eVTOL Group Pulls Back Joby is changing hands near $7.96, off about 5%. The company announced a $500 million acquisition of defense firm Resonant Sciences for $500 million yesterday. The acquisition included $450 million in cash and $50 million in Joby stock. That matters because Joby is still largely a pre-revenue company, so it’s a significant use of cash. Peer Archer Aviation (NYSE:ACHR) is down roughly 7% to $6.29. Both names ran hard into this stretch, and today looks like classic profit-taking across the group.
Archer is still up roughly 21% over the past week and about 38% over the last month even after today’s slide. Joby’s own Q2 revenue of $38.6 million beat consensus by roughly 27%, and management raised full-year 2026 revenue guidance to $115 million to $125 million. GAAP EPS of -$0.25 missed expectations, and the H2 2026 cash usage guide of $385 million to $415 million has given traders reason to trim. Joby is now down roughly 40% YTD.
What To Watch DJT needs to stabilize above $8 to slow the bleeding after this week’s slide. For Joby and Archer, Thursday’s session will show whether today’s move was a one-day cool-off in a still-hot group.
Contact [email protected] for any questions or corrections.
Item 1 of 2 U.S. President Donald Trump shows a printout of his Truth Social post as he delivers remarks to reporters in the Oval Office at the White House in Washington, D.C., U.S., June 4, 2026. REUTERS/Jonathan Ernst/File Photo
[1/2]U.S. President Donald Trump shows a printout of his Truth Social post as he delivers remarks to reporters in the Oval Office at the White House in Washington, D.C., U.S., June 4, 2026.... Purchase Licensing Rights, opens new tab Read more
SummaryCompaniesComplaint seeks to bar exclusive Trump announcements on paid feedTruth API charges up to $100,000 monthly for early access to 10 accountsTrump's posts can move marketsWhite House not available for commentNEW YORK, Aug 12 (Reuters) - Donald Trump was sued on Wednesday by two media entities seeking to shut down a new service that sells paid access to the U.S. president's posts, including some that can move markets, on his Truth Social platform.
The complaint filed in Manhattan federal court by the Intercept and the Freedom of the Press Foundation challenges Truth API, a feed offered by Trump Media & Technology Group (DJT.O), opens new tab that charges up to $100,000 a month for early access to 10 high-profile Truth Social accounts, including Trump's own.
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Truth API launched on August 1, four days after Democratic Senators Elizabeth Warren of Massachusetts and Adam Schiff of California called on the U.S. Securities and Exchange Commission to investigate whether it undermined the integrity of financial markets while enriching Wall Street, wealthy insiders and Trump.
The White House did not immediately respond to a request for comment. Other White House officials are also defendants but Trump Media is not.
Trump has long used Truth Social to disclose news, such as on tariffs and Middle East conflicts, that can move prices of stocks, oil and other markets.
Wednesday's lawsuit seeks to block the White House from posting official government announcements exclusively on Truth Social while the paid feed exists.
PLAINTIFFS CALL SERVICE 'PROFOUNDLY CORRUPT'In the complaint, the plaintiffs called the Truth API service "profoundly corrupt" because the president stands to gain financially when subscribers sign up.
They also said the service violated the U.S. Constitution's First Amendment because everyone deserved equal access to Trump's announcements, and there was no legitimate government interest in selling Trump's posts to private subscribers and letting him profit.
According to the complaint, many of Trump's 9,000 to 11,000 Truth Social posts and reposts during his second White House term were never followed by official White House statements.
A Trump Media spokesperson said "countless" platforms and news outlets, including many offering subscription feeds, already disseminate information from Trump, a Republican.
"Now, left-wing activists are trying to wrongfully weaponize the courts to censor him" and harm shareholders, the spokesperson said.
On an earnings call on Monday, Trump Media interim Chief Executive Kevin McGurn said Truth API enabled subscribers to get news "fractionally faster" than others.
TRUMP IS LARGEST SHAREHOLDERThe president is Trump Media's largest shareholder, with a 41.3% stake worth approximately $950 million through his Donald J. Trump Revocable Trust, Reuters data show.
His oldest son Donald Trump Jr. is a Trump Media director and oversees the trust.
Other accounts offered through Truth API include those of Vice President JD Vance, Health and Human Services Secretary Robert F. Kennedy Jr., FBI Director Kash Patel and the White House itself, the complaint said.
The SEC's three current commissioners are Republican.
Reporting by Jonathan Stempel in New York; Editing by Sonali Paul
Our Standards: The Thomson Reuters Trust Principles., opens new tab
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President Donald Trump is facing a new lawsuit. Aaron Schwartz / AFP President Donald Trump was sued Wednesday over a new service for his social media platform, Truth Social, that charges subscribers up to $100,000 a month for early access to his posts and those of other prominent users.
The lawsuit, filed in Manhattan federal court, alleges that the sale of faster access to what the interim CEO of Truth Social's parent, Trump Media, has called "market-moving" posts is "profoundly corrupt" and illegal.
"President Donald Trump is charging $100,000 per month for advance access to his official government announcements on Truth Social, the social media platform he owns," the lawsuit says, adding, "This scheme is extraordinary, corrupt, and unconstitutional, and Plaintiffs bring this case to stop it."
The lawsuit, brought by The Intercept Media nonprofit news organization and the nonprofit Freedom of the Press Foundation, says that Trump "stands to gain financially by giving 'market-moving' government information to those who are willing and able to pay his personal company."
The White House did not immediately respond to a request for comment on the lawsuit by Business Insider.
Last month, Trump Media announced it would launch a service called Truth API, describing it as a business-to-business data feed that would provide customers with faster access to posts from the highest-ranking Truth Social accounts, including Trump, who has 13 million followers.
In Trump Media's first earnings call on Monday, interim CEO Kevin McGurn said that since the announcement, the company has signed more than 10 customers, "primarily high-frequency trading firms," at rates ranging from $60,000 to $100,000 to a month.
"We're also in active conversations with hyperscalers, some of the largest news organizations, and developers of large language models, and we are evaluating opportunities in the prediction market space for data licensing," McGurn said.
Trump API, the interim CEO explained, "provides a machine-readable feed of publicly available Truth Social posts from the platform's top accounts in milliseconds."
Customers will get "published and publicly available posts fractionally faster," he said.
The lawsuit against Trump slams the service as an "illegal scheme" that violates the First and Fifth Amendments.
"There is no legitimate interest, let alone a significant one, in permitting President Trump to profit from selling government information," the lawsuit says.
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Natalie is a senior reporter on Business Insider's Business News team.She was previously on BI's Legal Affairs team where she covered major cases out of state and federal court, as well as bankruptcy. Her coverage often focused on stories at the intersection of law, business, politics and technology. Natalie has covered Donald Trump’s criminal and civil cases, the wave of lawsuits against the second Trump administration, the indictment and criminal trial of Sean “Diddy” Combs, the shooting death of UnitedHealthcare CEO Brian Thompson, and the legal battles facing Elon Musk and his companies. Natalie came to Business Insider in June 2021 as a breaking news reporter, focusing on the most interesting angles around the trending news of the day. Natalie largely drove BI’s coverage around the fatal “Rust” shooting involving Alec Baldwin and the disappearance and murder of Gabby Petito.Prior to joining BI, Natalie worked for the New York Post, the New York Daily News, and The Brooklyn Paper. She has an extensive background covering crime and courts. During her more than 12-year journalism career, she did a stint covering the police beat out of the headquarters for the New York Police Department. Natalie, a Brooklyn native, graduated from Brooklyn College in 2012 with a journalism degree. Popular articles
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President Donald Trump was sued on Wednesday by a media outlet and a non-profit group seeking to block a controversial new service that sells advance notifications of his posts on Truth Social.
The lawsuit, filed in U.S. District Court in Manhattan, notes that Trump's posts on his own social media site often move financial markets with announcements about government policy, military actions and other decisions.
"President Donald Trump is charging $100,000 per month for advance access to his official government announcements on Truth Social, the social media platform he owns," the civil suit says.
"This scheme is extraordinary, corrupt, and unconstitutional, and Plaintiffs bring this case to stop it," the suit says. "There is no legitimate interest, let alone a significant one, in permitting President Trump to profit from selling government information."
The suit was filed by The Intercept Media, a news organization, and by the Freedom of the Press Association, a non-profit group.
The complaint alleges that the new service, known as Truth API, violates the First and Fifth Amendments of the U.S. Constitution by giving subscribers preferential access to Trump's public announcements for "unreasonable sums."
Truth Social's parent company, Trump Media, announced in July that it would offer subscribers who paid up to $100,000 each month early access to "market-moving" posts from Trump and other people who use the platform. Trump is the largest shareholder in Trump Media through the Donald J. Trump Revocable Trust.
Currently, the suit says, Truth API provides subscribers faster access to posts for the 10 most popular accounts on Truth Social. After Trump, those accounts include the White House itself, Vice President JD Vance, FBI Director Kash Patel, White House Press Secretary Karoline Leavitt, Transportation Secretary Sean Duffy, and Health and Human Services Secretary Robert Kennedy.
"This scheme is profoundly corrupt," the suit says. "The President stands to gain financially by giving 'market-moving' government information to those who are willing and able to pay his personal company.
The suit says that since resuming office in January 2025, Trump has published between 9,000 and 11,000 posts on Truth Social.
"Often his posts have no immediate corresponding announcement from the White House," the suit says. "In other words, President Trump's posts are the only way to get official government news."
CNBC has requested comment from the White House on the lawsuit.
During a quarterly earnings conference call on Monday, Trump Media CEO Kevin McGurn said Truth API "provides machine-readable feeds of publicly available Truth posts from the platform's top accounts in milliseconds."
"Our customers will get published and publicly available posts fractionally faster," McGurn said.
McGurn also said during that call that Trump Media to date had signed more than 10 customer agreements for Truth API, "generally in the range of $60,000-$100,000 a month."
McGurn said that the company was in active discussions with hyperscalers and some large news organizations and developers of large language models about the service.
"Looking ahead, we expect the next phase of the API to include broader third-party distribution, for example, news feeds, financial data terminals, and specialty publications, which we believe will bring more visibility to this business over time," he said.
In addition to Trump, the suit names as defendants the president's executive assistant, Natalie Harp and White House Deputy Chief of Staff Dan Scavino, who are each known to post to Truth Social on behalf of the president; the Executive Office of the President; and the White House Office.
— CNBC's Megan Cassella contributed to this report.
ToplinePresident Donald Trump on Wednesday was sued by two media groups over the Truth Social parent’s plan to sell faster access to his social media posts, calling the proposal “extraordinary, corrupt and unconstitutional.”
Two media firms called the president’s plan to sell faster access to his social media posts “extraordinary, corrupt and unconstitutional.”
Copyright 2026 The Associated Press. All rights reserved.
Key FactsThe Intercept Media and nonprofit Freedom of the Press Foundation, in a complaint filed Wednesday in the U.S. Southern District of New York, asked the court to block the plan, alleging the president “stands to gain financially by giving ‘market-moving’ government information to those who are willing and able to pay his personal company.”
Trump Media & Technology Group announced in July it would offer subscribers who paid up to $100,000 each month early access to Trump’s Truth Social posts, calling the program “Truth API” and saying it was “designed for organizations most impacted by the cost of a delay in information.”
The Intercept, in a statement announcing the lawsuit, accused Trump of violating the First Amendment right of journalists and other members of the public by blocking equal access to official information.
crucial quoteBen Muessig, editor-in-chief of The Intercept, said in a statement: “Trump is trying to enrich himself by privatizing government information that he has no right to sell. We won’t let it stand.”
how many companies have signed up for truth api?Trump Media CEO Kevin McGurn said during the firm’s earnings call on Monday that more than 10 companies had reached agreements for Truth API, “generally in the range of $60,000 to $100,000 a month.” McGurn did not disclose which companies had signed up for the plan, but noted Trump Media was in active discussions with large news organizations and developers of large language models.
key backgroundTrump has used his Truth Social platform to announce appointments of senior administration officials, bombing campaigns in Iran and new tariffs. Recent posts by Trump about the war in Iran have moved markets and oil prices, influencing inflation in recent months. Trump Media briefly planned to spin Truth Social off as its own company, but backed off from the plan in June “after further evaluation.” The firm’s stock dropped to a two-week low on Monday after it reported another quarterly loss, totaling $238.1 million for its latest quarter, with more than $190 million in losses attributed to unrealized losses on digital assets and equity securities.
further readingForbesTrump Media Tanks 8% To 2-Week Low As Company Reports Latest LossesBy Antonio Pequeño IV
Trump Media & Technology Group Corp. reported Q2 sales of $1.67M, up 89% y/y, but remains unprofitable with ballooning losses and minimal operational improvement. I maintain a Strong Sell rating on DJT, citing persistent cash burn, unsustainable business model, and repeated pivots with no viable path to profitability. Despite $215M in cash and a long runway, DJT's core operations are stagnant, and reliance on capital markets is unsustainable without dramatic improvement.
HomeMarket OutlookCryptocurrency Communication Services
SummaryTrump Media & Technology Group reported Q2 revenues of $1.67 million, a notable yearly increase but still very small.Operating losses were $48.5 million in Q2, worsening year over year, with 1H 2026 GAAP losses nearly $644 million due to bad investments.DJT's valuation remains extremely high relative to revenues, trading at a significant premium to comparable social media peers. Eric Lee/Getty Images News
After the bell on Monday, we received second quarter results from Trump Media & Technology Group (DJT). For a couple of years, the upstart firm has posted very little revenue but very high expenses
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Investors are always reminded that before making any investment, you should do your own proper due diligence on any name directly or indirectly mentioned in this article. Investors should also consider seeking advice from a broker or financial adviser before making any investment decisions. Any material in this article should be considered general information, and not relied on as a formal investment recommendation.
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Losses at the company behind Donald Trump's social media platform - Truth Social, have ballooned, new figures reveal.
The $238m (£176.3m) net loss recorded by Trump Media and Technology Group in the quarter ending 30 June is more than ten times that of a year earlier.
During the same period last year, the net loss was around $20m (£14.8m).The figures also show the company made a net loss of $644m for the first six months of 2026.
Money blog: Workers' pension choice could be disaster for retirement
Trump Media has reported losses every quarter since it became a public company more than two years ago.
The latest financial performance was attributed to the decline in value of crypto and other digital assets.
The company said it also faced $25.6m (£19m) of legal expenses, mostly related to legacy litigation.
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What is Trump Media and Technology Group?
As well as owning Truth Social, the company also has interests in online betting, finance and nuclear energy but aims to refocus on social media.
Even with this refocus, a merger with nuclear fusion company TAE Technologies is intended to go ahead.
Plans to create a subscription service, whereby service users pay to get instant, high-speed access to posts on Truth Social ahead of others have also been developed.
From 4 August: Art of the Deal or Insider Trading? Trump takes Truth Social to Wall Street
The product, called Truth API, is designed for the likes of Wall Street traders to get access to posts ahead of others. Financial makets have previously moved following some of President Trump's own Truth Social posts.
It has signed up its first 10 customers, the company said in the results announcement.
A bright spot
While losses mounted for Trump Media, the company's revenue stream grew.
It posted $1.7m (£1.25m) in revenue for the period, up 89% from the $900,000 generated a year prior.
Trump Media stock NASDAQ:DJT dropped 8.03% to $9.39 on Monday before slipping slightly further after hours, as investors confronted another quarter of heavy losses and little revenue.
The Truth Social owner reported a $238.1 million second-quarter net loss, compared with about $20 million a year earlier, while revenue rose 89% to $1.7 million.
Much of the loss came from unrealised declines in Bitcoin, BTC-related securities and Cronos, but operating losses still widened to $164 million from $44 million.
With DJT valued at roughly $2.6 billion, attention is shifting to whether its newest businesses can produce meaningful revenue.
Crypto volatility made the quarter look ugly, but Trump Media’s valuation remains the bigger issue.
The company is pulling back from diversification efforts and redirecting resources towards projects management believes can improve its economics.
Earlier moves into financial products, prediction markets and crypto have yet to transform a revenue base that remains tiny relative to its market value.
Marty Popoff, a former capital-markets professional writing for Seeking Alpha, argued in July that Trump Media’s book value, cash flow and growth prospects did not support its market capitalisation.
That disconnect has become harder to ignore as the stock continues losing ground.
Crypto explains much of the net loss, but it does not answer how Trump Media grows into its valuation.
Trump Media’s most intriguing response is Truth API, which sells rapid access to posts from leading Truth Social accounts, including President Donald Trump.
Chief executive Kevin McGurn said customers are paying $60,000 to $100,000 a month and that 10 have signed up, mostly high-frequency trading firms.
At current pricing, those clients could generate roughly $7 million to $12 million annually if subscriptions persist, several times Trump Media’s 2025 revenue.
The appeal is speed. Trump frequently posts policy announcements capable of moving stocks, currencies, commodities and bonds.
Matt Tuttle, CEO of Tuttle Capital Management, told Investopedia the concept recalled “the old days when you set up shop as close to an exchange as you could to be a millisecond ahead.”
Trump Media also sees potential customers among news organisations, data companies and developers of large language models.
The larger transformation could come from Trump Media’s proposed all-stock merger with TAE Technologies, valued at more than $6 billion when announced.
The companies expect shareholders from each side to own roughly half of the combined business.
McGurn said Monday that Trump Media hopes to close the transaction by year-end and described fusion as its most important long-term value driver.
That would alter DJT, as investors would increasingly own exposure to experimental fusion-energy technology rather than primarily a social-media platform.
There is also a nearer-term balance-sheet test. Trump Media has about $1 billion of convertible notes due in 2028, but holders can demand repayment in November.
The company ended June with more than $400 million of cash and short-term investments plus about $1.2 billion of Bitcoin and BTC-related assets.
Tyler Richey, co-editor of the Sevens Report, told Business Insider in May that Truth Social had been “a bit of a swing and a miss” as a social-media company.
Trump Media & Technology Group , founded by U.S. President Donald Trump and known for its Truth Social platform, reported a wider second-quarter loss, largely due to unrealized losses tied to its cryptocurrency assets.
Trump Media & Technology Group on Monday reported a net loss of more than $238 million for its fiscal second quarter on revenue of less than $2 million.
That loss, which dwarfed the almost $20 million it lost in the same period last year, was primarily due to declines in non-cash assets, including more than $190 million in losses from "digital assets, digital assets pledged, and equity securities," the company said in a press release.
The company's $1.7 million in quarterly revenue mostly came through ad services on Truth Social, TMTG's flagship social media product, which is used by President Donald Trump. That revenue marked an 89% increase from the year-ago quarter.
The New York Times reported earlier Monday that Truth Social's traffic — which already paled in comparison to similar platforms, such as Elon Musk's X — fell sharply this summer.
TMTG's quarterly operating expenses of more than $165 million were roughly 275% higher year over year.
"Our operating expenses are largely impacted by the price volatility of digital assets," Chief Financial Officer Phillip Juhan said during the company's first-ever earnings call.
The company also provided new details about Truth API, its controversial new service offering faster access to Trump's Truth Social posts.
TMTG said it has signed "more than 10 customer agreements to date," adding that those clients are "primarily high-frequency trading firms" and are paying rates of $60,000 to $100,000 a month, the company confirmed.
Trump Media & Technology was created after Trump was temporarily suspended from social media platforms in the wake of the Jan. 6, 2021, Capitol riot. It went public through a merger with a special purpose acquisition company and started trading on the Nasdaq in 2024 under the ticker DJT, which match the president's initials.
Truth Social was the company's first product, but it later expanded into a variety of other industries, including crypto, financial services and fusion power.
TMTG interim CEO Kevin McGurn told Axios on Friday that the company is pulling back from two agreements it struck with Crypto.com as it focuses on its media business and a pending merger with TAE, the fusion energy firm.
McGurn said in Monday's earnings call that the combination with TAE is "the single most important driver of long-term value for this company."
There are currently no commercial plants producing electricity using fusion tech.
TMTG stock, which is now worth a fraction of what it fetched when it first started trading, closed down 8% Monday.
ToplineTrump Media’s stock fell more than 8% on Monday shortly before the company reported its second quarter earnings, which revealed its latest net loss for the year.
Trump Media fell 8% on Monday.
Photo by Jim WATSON / AFP via Getty Images
Key FactsTrump Media closed down 8% at $9.39, erasing two weeks worth of gains made by the company’s stock.
Shares slid down a fraction of a percent in after-hours trading, as Trump Media reported a $238.1 million net loss for its latest quarter and $1.7 million in sales.
The company attributed $190.4 million worth of the losses to unrealized losses on digital assets and equity securities.
Trump Media reported $2 billion in total assets, nearly all of which was made up of cash, investments, equity securities and digital assets.
Trump Media holds hundreds of millions of dollars worth of bitcoin and cronos cryptocurrency, with the company recording $218 million in unrealized bitcoin losses and $27.4 million in unrealized cronos losses as both assets have fallen consistently since the start of the year.
Trump Media shares are still well above their low for 2026, which was reached in July when the stock fell to about $7 per share.
The company did not introduce any new revenue drivers during its second quarter, meaning it will continue relying on limited advertising revenue.
Forbes ValuationWe estimate President Donald Trump’s net worth at $6.4 billion, falling nearly $100 million Monday. Trump’s stake in the company is worth about $1 billion.
What To Watch ForTrump Media launched Truth API on Aug. 1, meaning the company’s next earnings report may reveal how well the service bolsters its limited revenue streams. The service provides early access to posts from high-ranking Truth Social accounts, including Trump’s, for a reported cost of as much as $100,000 a month.
Key BackgroundTrump Media shares have fallen 30% since the start of the year and roughly 80% since the company went public in early 2024, debuting at $70.90 per share on the Nasdaq. The company lost $712 million in 2025, more than half of which was due to unrealized losses and digital asset investments. Advertising raked in $3.7 million that same year for Trump Media, which is the parent company of Truth Social. The alternative social media platform championed by the president has faced a 36% decline in monthly visitors from a year ago, The New York Times reported, citing analytics firm SimilarWeb. Truth Social averaged 28 million monthly visits in the first seven months of 2025, the Times added.
Further ReadingTrump’s Truth Social Won’t Be Its Own Company Anymore, Parent Firm Says (Forbes)
Trump Media’s Nearly 50% Rally Adds $600 Million To President’s Net Worth (Forbes)
Trump Media and Technology Group Corp. (NASDAQ:DJT) shares are tumbling Monday as traders reduce exposure ahead of the company’s second-quarter results arriving after today’s close. Here’s what you should know.
Trump Media & Tech Gr shares are sliding. Why are DJT shares down? A Mixed First Quarter Sets the Stage for Today’s ReportTrump Media held $2.2 billion in total assets at the end of March, with roughly $2.1 billion of that sitting in financial assets spanning cash, restricted cash, short-term investments, equity securities, a note receivable and accrued interest, digital assets and pledged digital assets. That financial asset base was nearly three times the $759 million the company held in the same period a year earlier.
Operating cash flow came in at $17.9 million, the fourth straight quarter the company generated positive cash from operations, a streak management highlighted as evidence of financial discipline.
The other side of the ledger was harder to dismiss. A net loss of $405.9 million and an adjusted EBITDA loss of $387.8 million dominated the headline numbers, though the company was quick to note that the overwhelming majority of those figures consisted of non-cash charges. Revenue for the quarter totaled $0.9 million as the company said it remains focused on building out its audience and infrastructure before activating monetized features.
Platform Buildout Continues Ahead of MergerInterim CEO Kevin McGurn said the company is deploying its balance sheet and cash generation to accelerate growth across its platforms while simultaneously working to complete the proposed combination with TAE Technologies.
Truth Social is developing or testing several features that have not yet launched publicly, among them discussion and sharing tools for prediction contracts built in cooperation with Crypto.com Derivatives North America.
Additionally, Truth+, the company’s streaming service, expanded its live television lineup with the addition of Nothing But Sportz, Retro and In Touch, brought in international programming from Israel, the Azores and Portugal.
DJT Versus the Chart: Overhead Supply Still Runs the RoomTechnically, the stock is still working against a weak longer‑term backdrop. DJT trades 5.4% below its 20‑day SMA at $9.66 and 14.2% below its 200‑day SMA at $10.65, which keeps the broader trend tilted bearish even with recent signs of stabilization.
At the same time, the stock sits 3.7% above the 50‑day SMA at $8.82 and 2.2% above the 100‑day SMA at $8.95, creating a short‑term tug‑of‑war. The question is whether buyers can keep defending the mid‑$8 area on dips or whether the market forces another move lower to find firmer demand.
Momentum remains neutral. RSI at 47.08 suggests the selloff is not washed out enough to make a bounce feel inevitable. The moving‑average structure reinforces that mixed tone. The 20‑day SMA is above the 50‑day SMA, which is a short‑term bullish crossover, but the 50‑day SMA is still below the 200‑day SMA, which keeps the longer‑term bias pointed lower. This blend often produces choppy action where short‑term pops appear but run into sellers as price approaches longer‑term resistance.
Resistance: $10.00 — a round‑number ceiling near the short‑to‑intermediate moving‑average cluster where rebounds often stall Support: $8.50 — a nearby floor close to the 50‑day and 100‑day zone where buyers have clearer technical incentive to defend DJT Shares Are SlidingDJT Price Action: Trump Media shares were down 10.28% at $9.16 at the time of publication on Monday, according to Benzinga Pro.
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Trump Media & Technology Group (DJT -8.03%) stock was down 9.4% as of 3:20 p.m. ET Monday, while the S&P 500 was mostly flat and the Nasdaq Composite slipped 0.3%.
Shares of the Truth Social operator are sliding after the company decided to unwind most of its partnership with the crypto exchange Crypto.com.
Today's Change
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Why Trump Media walked away from its Crypto.com deal On Aug. 7, Trump Media, Crypto.com, and Yorkville Acquisition Corp. -- a special purpose acquisition company (SPAC), meaning a sort of shell company that takes a private business public by merging with it -- all agreed to cancel a plan to create a publicly traded digital-asset treasury company (DAT) that would have bought and held Cronos (CRO -1.22%), Crypto.com's native token.
Cronos traded near $0.20 when the deal was announced last August and now sits around just $0.047. The math behind the DAT no longer made sense, and the deal was killed.
What this means for investors going forward Trump Media, however, still owns the CRO it bought in anticipation of the deal as well as other crypto assets like Bitcoin. The company has been forced to take major paper losses as the value of its digital assets plummeted.
Image source: Getty Images.
After its ill-fated foray into crypto, Trump Media now says once again that Truth Social revenue is its primary focus, as well as closing a proposed merger with a nuclear fusion technology company.
This is not a stock that I would own. Over the last twelve months, it has lost more than $530 million and brought in just $3.7 million in revenues. Despite these numbers, the company's market cap is over $2.8 billion.
Johnny Rice has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Bitcoin. The Motley Fool has a disclosure policy.
~ Total Assets of $2. 0 Billion and Over $1. 9 Billion in Financial Assets* ~~ Launch of First Data Licensing Product, Truth API ~~ Legacy Legal Matters Resolved as TMTG Moves Toward Prospective Merger with TAE Technologies ~~ Company to Host Inaugural Conference Call Today at 5:00 pm E.
ToplineTrump Media’s stock fell more than 8% on Monday shortly before the company reported its second quarter earnings, which may not show many significant changes to its limited advertising revenue stream.
Trump Media fell 8% on Monday.
Photo by Jim WATSON / AFP via Getty Images
Key FactsTrump Media closed down 8% at $9.39, erasing two weeks worth of gains made by the company’s stock.
The stock’s performance is largely detached from business fundamentals, though it is possible there is investor anxiety ahead of the company’s second quarter earnings.
Trump Media shares are still well above their low for 2026, which was reached in July when the stock fell to about $7 per share.
The company did not introduce any new revenue drivers during its second quarter, meaning it will continue relying on advertising revenue—which has been underwhelming in previous quarters.
Forbes ValuationWe estimate President Donald Trump’s net worth at $6.4 billion, falling nearly $100 million Monday. Trump’s stake in the company is worth about $1 billion.
What To Watch ForTrump Media launched Truth API on Aug. 1, meaning the company’s next earnings report may reveal how well the service bolsters its limited revenue streams. The service provides early access to posts from high-ranking Truth Social accounts, including Trump’s, for a reported cost of as much as $100,000 a month.
Key BackgroundTrump Media shares have fallen 30% since the start of the year and roughly 80% since the company went public in early 2024, debuting at $70.90 per share on the Nasdaq. The company lost $712 million in 2025, more than half of which was due to unrealized losses and digital asset investments. Advertising raked in $3.7 million that same year for Trump Media, which is the parent company of Truth Social. The alternative social media platform championed by the president has faced a 36% decline in monthly visitors from a year ago, The New York Times reported, citing analytics firm SimilarWeb. Truth Social averaged 28 million monthly visits in the first seven months of 2025, the Times added.
Further ReadingTrump’s Truth Social Won’t Be Its Own Company Anymore, Parent Firm Says (Forbes)
Trump Media’s Nearly 50% Rally Adds $600 Million To President’s Net Worth (Forbes)
Shares of Trump Media & Technology Group (NASDAQ:DJT) are sliding again, falling 7.83% in the most recent trading session to $9.41. The move extends a rough stretch for a stock that is down 22.89% year to date and 40.4% over the past year, even as the S&P 500 sits near record territory.
No Single Catalyst, but the Backdrop Keeps Getting Heavier Today’s decline lacks a confirmed same-day trigger, but a mounting overhang explains the pressure. Trump Media launched its “Truth API” on August 1, 2026, selling Wall Street firms real-time access to Truth Social posts for up to $100,000 per month. The product immediately drew bipartisan pushback, with Senators Elizabeth Warren and Adam Schiff formally requesting an SEC investigation on July 29 into potential insider-trading and market-manipulation concerns.
Senate Democrats then introduced S.5221, the Stop Corrupt Trading Act, which explicitly targets the Truth API structure and proposes federal criminal fines and potential prison sentences for sellers of nonpublic information via presidential-owned platforms. Coverage sentiment has been overwhelmingly negative: of 50 articles analyzed between July 17 and August 5, 18 were labeled Bearish and 13 Somewhat-Bearish, versus only 2 Bullish.
Fundamentals compound the pressure. Q1 2026 revenue was just $900,000, while the company posted a net loss of $405.88 million, driven largely by $368.7 million in unrealized losses on digital assets and equity securities. The stock trades at a price-to-sales ratio of 757 with a beta of 4.107, which helps explain why single-day moves land this hard.
Peers Are Holding Steady While DJT Slides Today’s slide looks isolated. The VIX sits at 15.15, deep in complacency territory, and SPDR S&P 500 ETF Trust (NYSEARCA:SPY) is up 0.08% in the session. Social and alt-media peers are broadly higher or flat, suggesting the selling in DJT is stock-specific rather than sector-driven.
Ticker Company Today 1-Week 1-Month Market Cap DJT Trump Media -7.83% +3.55% +20.26% $2.83B RUM Rumble (NASDAQ:RUM) -0.86% +9.33% +1.67% $1.76B META Meta Platforms (NASDAQ:META | META Price Prediction) +1.70% +6.36% -1.83% ~$1.33T RDDT Reddit (NYSE:RDDT) -1.33% +14.95% -17.21% ~$23.3B Rumble, the closest thematic peer in alt-media, is essentially flat on the day. Meta is green. Reddit is softer but still meaningfully higher over the past week. That pattern points the finger back at DJT-specific overhang: the Truth API blowback, potential SEC scrutiny, S.5221 risk, and a valuation the market has been steadily marking down. Composite sentiment on DJT reads 40.48, neutral with medium confidence, and news component scoring is 38.95.
What to Watch Next The near-term catalysts are political and regulatory rather than operational. Watch progress on S.5221, any formal SEC response to the Warren-Schiff letter, and Truth API subscriber adoption beyond the five firms reported by WSJ. On the chart, the 50-day moving average of $8.81 is the level bulls need to defend to keep the recent monthly uptrend intact.
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