Trump Media & Technology Group Corp. (TMTG) shares surged in pre-market trading on Wednesday, fueled by speculation surrounding the ongoing election results. With Republicans potentially on the verge of securing a majority, investors appear to be betting on a positive impact for TMTG, co-founded by former President Donald Trump.
Donald Trump’s social media platform, Truth Social, has seen a significant rise in value, surpassing Elon Musk’s X (formerly Twitter) in market capitalization. The surge in shares of Trump Media & Technology Group (TMTG), the parent company of Truth Social, has pushed its valuation above $10 billion, driven by investor optimism linked to Trump’s re-election prospects. This comes as X Holdings, the parent company of X, faces challenges and a decreased valuation from Fidelity Investments.
Shares of Trump Media & Technology Group (TMTG) rose in pre-market trading on Monday, potentially boosted by a recent poll showing Donald Trump leading Kamala Harris. This comes after last week’s market pullback. The stock, often described as a ‘meme’ stock due to TMTG’s weak fundamentals, could also benefit from broader market strength.
Shares of Trump Media & Technology Group Corp. (TMTG) are plummeting again on Tuesday, following a sharp decline on Monday. This comes as the company reported disappointing second-quarter results and Donald Trump returned to the X platform, sparking concerns about the future of Truth Social.
Former US President Donald Trump is set to receive a windfall of $1.3 billion in stock bonuses from Truth Social’s parent company, Trump Media & Technology Group (TMTG). This substantial payout represents nearly half of Trump’s current stake in the company and brings his total shareholding to a staggering $4.1 billion. The award is a reflection of TMTG’s recent share price surge, which has resulted in a significant increase in Trump’s wealth.
Former President Donald Trump stands to receive an additional 36 million shares of his social media company, Truth Social, worth approximately $1.2 billion. This bonus, known as an earnout, was triggered by Truth Social parent company, Trump Media & Technology Group (TMTG), meeting a performance threshold of trading above $17.50 for 20 trading days. Trump now holds a majority stake of 115 million shares, equivalent to 65% of the company and valued at over $4 billion. However, access to these funds may be limited by a lock-up period of 150 days following the company’s public listing, unless an exemption is granted by the board.
