Trump Media Stock Looks to Extend Bear Gap

DJT saw a 21.4% loss it saw in the previous session

Digital Content Manager
Apr 2, 2024 at 10:09 AM
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Trump Media & Technology Group Corp (NASDAQ:DJT), the parent of social media platform Truth Social, revealed yesterday its revenue for 2023 amounted to less than $5 million. The company, which has former President Donald Trump as its majority owner, made its Nasdaq Composite (IXIC) debut on March 26 after merging with Digital World Acquisition.

Last seen down 1.4% to trade at $47.99, the security is looking to extend the 21.4% loss it saw in the previous session. Shares rose 50% on the day that they began trading publicly and even saw a brief trading halt amid volatility, but ultimately came shy of the $80 region before settling below $60.

Options bears are chiming in, with 25,000 puts exchanged so far today -- nearly double the intraday average volume -- compared to 17,000 calls. The most active contract is the weekly 4/5 70-strike call, however.

 

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