Reported 8 months ago
Shares of Trump Media & Technology Group (NASDAQ: DJT) surged by 20.4% as of 12:15 p.m. ET following the news of a major funding source from exercised stock warrants. The company announced that it expects to receive over $69.4 million in cash proceeds, potentially reaching $247 million in total. Despite minimal revenue and significant losses, this cash injection is seen as positive news for shareholders. Additionally, legal developments related to President Trump's comments and potential restrictions could impact the future of Truth Social, the company's main platform, affecting investor sentiment.
Source: YAHOO