If you were hoping for logic to reassert itself in the Truth Social (NASDAQ:DJT) game, I’m afraid your hopes remain in vain. The social media platform’s shares soared over 10% in Monday afternoon’s trading, but when looking for reasons why, most came up with very little.
What’s more, the 10% shares were up as of this writing wasn’t even the high-water mark for the day’s trading. Indeed, just ahead of 1:00 PM Eastern, Truth Social shares were up over $5 per share for the day. But when attempts were made to ferret out why the surge happened to begin with, very little could be ascertained. A post from the former president in charge, Donald Trump himself, may have sparked some interest as Trump declared in all-caps: “TRUTH SOCIAL IS THE REAL VOICE OF AMERICA!!!”
Truth Social’s Press Releases Have Been Comparatively Quiet
Truth Social’s press releases have been comparatively quiet, with no major victories to point to as potential causes. It landed no sponsors, saw no surge in revenue, or anything like that. The latest press out of Truth Social itself was a release that, again, talked about the prevention of having shareholders’ shares used in shorting efforts.
The only other news item connected to Truth Social in recent days was a report from John S. Tobey, which noted that should Trump sell off shares, it would result in a rapid freefall for those shareholders who remained behind. This is likely true, given that Trump owns about 60% of Truth Social shares.
Is Truth Social Stock a Good Buy Right Now?
A look at the last five days of trading shows a steady rise at a surprisingly brisk pace. While no analysts have yet taken on DJT stock, investors definitely have, and shares are up 44.52% in accordance. Shares are on a fairly steady upward cant, with any downward momentum quickly overtaken by rallying action.
Is It Wise to Allocate $1,000 Toward DJT Stock Right Now?
Before you hurry to invest in DJT, think about the following:
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