Trump Media & Technology Group (NASDAQ:DJT) Sets New 52-Week Low – Here’s What Happened

Trump Media & Technology Group Corp. (NASDAQ:DJT) hit a new 52-week low on Friday. The stock traded as low as $6.28 and last traded at $6.3950, with a volume of 1,150,417 shares. The stock had previously closed at $6.61.

Wall Street Analyst Weigh In

Several research firms recently commented on DJT. Wall Street Zen upgraded shares of Trump Media & Technology Group from a “strong sell” rating to a “sell” rating in a research report on Saturday, October 10th. Weiss Ratings downgraded Trump Media & Technology Group from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, September 2nd. One analyst has rated the stock with a Sell rating. According to data from MarketBeat, Trump Media & Technology Group has an average rating of “Sell”.

Trump Media & Technology Group Trading Down 3.0%

The company has a 50 day simple moving average of $8.57 and a 200 day simple moving average of $8.79. The stock has a market cap of $1.78 billion, a P/E ratio of -1.31 and a beta of 4.07.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. BlackRock Inc. purchased a new position in Trump Media & Technology Group in the second quarter worth about $101,684,000. State Street Corp grew its holdings in shares of Trump Media & Technology Group by 32.0% during the second quarter. State Street Corp now owns 4,191,672 shares of the company’s stock valued at $32,444,000 after buying an additional 1,015,305 shares during the last quarter. Yorkville Advisors Global LP purchased a new stake in Trump Media & Technology Group during the second quarter worth $17,618,903. Anson Funds Management LP acquired a new position in shares of Trump Media & Technology Group during the first quarter valued at approximately $6,598,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Trump Media & Technology Group in the second quarter valued at approximately $4,047,000. Hedge funds and other institutional investors own 4.29% of the company’s stock.

About Trump Media & Technology Group

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

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