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Trump Media & Technology Group, trading under the ticker symbol DJT, has become a meme stock with minimal revenue but an $8 billion valuation. Unlike traditional meme stocks, DJT is considered a memecoin with higher revenues. The company's IPO has seen a positive start, with shares jumping premarket and gaining 25% since its debut on the Nasdaq. Despite its success, there are concerns about the company's valuation being driven more by sentiment than fundamentals, especially considering Trump's potential impact on its value.
Listen to @chamath’s take on $DJT stock at 16:41. If Trump folds in licensing revenue from his name, image, likeness into the $DJT company, it starts to look like an actual business. It would be foolish to short this. 600% annualized cost to borrow. https://t.co/vZBI6PR2Gt
TRUMP’S DJT STOCK BOOSTS HIS NET WORTH BY BILLIONS—AND RAISES BIG QUESTIONS AHEAD OF THE ELECTION (Barron's) Trump Media and Technology Group completed its journey to the public markets this past week, merging with a blank-check company that changed its ticker symbol to DJT.… https://t.co/vcc8bqwL07
$DJT | Trump's Newly Public Media Company Gives Supporters 'Direct Path' To Boost Ex-President's Bottom Line, Brightens His 2024 Election Prospects TMTG began trading on the Nasdaq under the ticker symbol DJT on Tuesday and has gained 25% since its debut. The company now boasts… https://t.co/lE7JDqGPXp