Reported 11 months ago
Trump Media & Technology Group Corp (NASDAQ:DJT), the operator of Truth Social, saw an increase in stock value on Monday after announcing an expected $69.4 million from warrant exercises following the SEC's registration statement approval. With potential total funds of $247 million, including $40 million in accessible cash, the company aims to enhance Truth Social. Nonetheless, experts caution against the stock's inflated value despite a recent 50% decline and compare it to meme stocks. Donald Trump, the primary shareholder, plans to utilize the funds for platform improvement and potential acquisitions. DJT shares rose by 7.12% to $29.63 before market opening on Monday.
Source: YAHOO