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Donald Trump's media company, Trump Media & Technology Group (TMTG), has seen a surge in its stock value since going public, with a 25% gain on Nasdaq under the ticker symbol DJT. Fidelity lowered its valuation for Twitter (X) by 73%, now valued at $11.9 billion, compared to TMTG's peak value of $8 billion. TMTG's high valuation at 2,500x sales raises concerns as its social media peers trade at 4x to 12x sales, potentially indicating an overvalued stock.
The stock performance of #Trump Media & Technology Group (#TMTG) blew past expectations as shares surged by more than 24 percent in its first week of trading after going public. https://t.co/Dc6jkZCT4r
Trump Media trades at a valuation of 2,500x sales Its social media comps trade at 4x to 12x sales If it were to trade in line with its peer group, $DJT share price would decline -99.7% from current levels https://t.co/DKJWEaQZVs
#ElonMusk's X worth falls 73% since purchase, Fidelity valuation cut reveals https://t.co/wnCvnEoY5w https://t.co/5Q95a3ARx3