Trump Media & Technology Group (NASDAQ:DJT) Stock Falls 6.8% – Should You Sell?

Trump Media & Technology Group Corp. (NASDAQ:DJT)’s stock price dropped 6.8% on Wednesday. The stock traded as low as $5.92 and last traded at $5.9250. 4,612,863 shares were traded during mid-day trading, an increase of 9% from the average session volume of 4,240,400 shares. The stock had previously closed at $6.36.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Weiss Ratings cut shares of Trump Media & Technology Group from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, September 2nd. Wall Street Zen cut shares of Trump Media & Technology Group from a “sell” rating to a “strong sell” rating in a research report on Saturday, October 24th. One investment analyst has rated the stock with a Sell rating. According to MarketBeat.com, Trump Media & Technology Group has a consensus rating of “Sell”.

Trump Media & Technology Group Trading Down 3.3%

The stock has a market capitalization of $1.55 billion, a P/E ratio of -1.14 and a beta of 4.07. The business has a fifty day simple moving average of $8.35 and a 200 day simple moving average of $9.40.

Institutional Trading of Trump Media & Technology Group

Several hedge funds and other institutional investors have recently modified their holdings of DJT. Bank of New York Mellon Corp grew its position in shares of Trump Media & Technology Group by 0.3% during the 1st quarter. Bank of New York Mellon Corp now owns 417,269 shares of the company’s stock valued at $3,872,000 after purchasing an additional 1,398 shares in the last quarter. NewEdge Advisors LLC boosted its holdings in shares of Trump Media & Technology Group by 11.9% in the 1st quarter. NewEdge Advisors LLC now owns 13,966 shares of the company’s stock worth $130,000 after purchasing an additional 1,488 shares in the last quarter. Royal Bank of Canada boosted its stake in Trump Media & Technology Group by 8.5% in the first quarter. Royal Bank of Canada now owns 21,451 shares of the company’s stock worth $200,000 after buying an additional 1,676 shares in the last quarter. Farther Finance Advisors LLC raised its stake in shares of Trump Media & Technology Group by 55.6% during the third quarter. Farther Finance Advisors LLC now owns 4,734 shares of the company’s stock worth $43,000 after acquiring an additional 1,691 shares in the last quarter. Finally, Axxcess Wealth Management LLC raised its position in Trump Media & Technology Group by 2.8% in the 3rd quarter. Axxcess Wealth Management LLC now owns 72,161 shares of the company’s stock worth $654,000 after purchasing an additional 1,960 shares during the period. Institutional investors own 4.29% of the company’s stock.

Trump Media & Technology Group Company Profile

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.