Trump Media & Technology Group, the parent of the Truth Social platform, said its board has authorized the repurchase of up to $400 million of common stock and warrants. The securities will be bought on the open market and retired, the company said in a statement released Monday. Chief Executive Officer Devin Nunes described the program as a “vote of confidence” in the business. Trump Media said the buyback will be funded from the roughly $3 billion in cash it holds and will not draw on the $2.3 billion earmarked for its recently announced Bitcoin treasury initiative. DJT shares rose about 3% to 5% in pre-market trading on the news, though the stock remains down nearly 48% since the start of 2025. MarketWatch estimated that a full $400 million buyback could reduce the public share count by around 10%. Former President Donald Trump, the company’s largest shareholder, indirectly owns about 114 million shares through a revocable trust. Despite the planned buyback, Trump Media continues to face operating challenges, posting a $400.9 million net loss on just $3.6 million in revenue for 2024.