SocialNewsBreaks – Insights from Morgan McGarvey’s Trade in Trump Media & Technology Group Corp. (NASDAQ: DJT) Stock

Democratic Representative Morgan McGarvey recently made headlines with a trade involving Trump Media & Technology Group Corp. (NASDAQ: DJT), a company linked to President-elect Donald Trump. The trade occurred on November 6, 2024, just after the presidential election, and was valued between $1,001 and $15,000. This timing was notable as it coincided with provisional results indicating Trump’s re-election. McGarvey, known for opposing Trump’s policies, claimed the purchase was made without his or his spouse’s knowledge and sold the stock two days later at a 7% loss.

DJT stock, currently priced at approximately $37.90, has seen a decrease of about 1.57%, with a $0.60 drop today. The stock has fluctuated between $37.02 and $38.83 during the trading day. Despite a recent rally of over 2% in the past 24 hours, DJT’s performance has not matched the significant rallies seen in other equities post-election, with only a 4% increase over the past month.

The stock’s performance is heavily influenced by sentiment surrounding Trump, which may not be sustainable long-term. Over the past year, DJT has experienced a high of $79.38 and a low of $11.75. Key insiders and institutional investors have been liquidating their stakes, affecting its price movement. Despite this, DJT’s market capitalization stands at approximately $8.22 billion, with a trading volume of 5,678,184 shares, indicating potential for growth if the stock aligns with its underlying fundamentals.

McGarvey’s disclosure was part of a series of trades, including transactions in major companies like Nvidia (NASDAQ: NVDA), Tesla (NASDAQ: TSLA), and Shell. Notably, he made a significant investment in Tesla shares just before the election, purchasing them at prices between $232 and $260 per share on October 25, 2024, ahead of a post-election rally.

To view the company’s most recent earnings release, visit https://ibn.fm/17xbV

About Trump Media & Technology Group Corp.

The mission of Trump Media & Technology Group Corp. is to end Big Tech’s assault on free speech by opening up the Internet and giving people their voices back. Trump Media & Technology Group operates Truth Social, a social media platform established as a safe harbor for free expression amid increasingly harsh censorship by Big Tech corporations.

For more information, visit the company’s website at www.TMTGCorp.com

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