Truth Social ( (DJT) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
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The stock of Trump Media & Technology Group Corp. (DJT) has been experiencing notable volatility. The recent surge in stock price was driven by Donald Trump’s upcoming presidency, resulting in heavy trading volumes. However, a pre-market decline of 7.85% suggests investors are engaging in profit-taking or the market is correcting itself. Over the past year, the stock has increased by 91.99%, partly due to Trump’s 2024 election victory. Even though there’s limited analyst coverage, technical indicators show a strong buy consensus due to bullish moving averages. Additionally, heightened activity in call options indicates positive market sentiment and anticipation of future price movements as the earnings report approaches in March.
More about Truth Social
YTD Price Performance: 26.13%
Average Trading Volume: 37,745,201
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $7.66B
For further insights into DJT stock on TipRanks’ Stock Analysis page.
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