Shares of Trump Media & Technology Group Corp (NASDAQ:DJT) are experiencing a slight pullback in Thursday morning trading, appearing to consolidate after a rally earlier this week. The stock's recent surge was driven by major announcements regarding the company’s new cryptocurrency strategy.
What To Know: The investor enthusiasm began Monday after the parent company of Truth Social revealed it had successfully accumulated approximately $2 billion in Bitcoin (CRYPTO: BTC) and Bitcoin-related securities.
This action is part of a previously announced plan to establish a substantial digital asset treasury. Furthermore, Trump Media disclosed an allocation of an additional $300 million toward an options acquisition strategy involving crypto-related assets, signaling a deeper push into the space.
In a statement, CEO Devin Nunes said the move helps to “ensure our Company's financial freedom” and “protect us against discrimination by financial institutions.” Nunes also highlighted that the assets would create synergies with a utility token the company plans to introduce for its Truth Social platform.
The market initially reacted with strong buying pressure, pushing DJT shares higher on both Monday and Tuesday as investors digested the diversification of the company’s balance sheet.
Price Action: According to data from Benzinga Pro, DJT shares are trading lower by 2.7% to $19.05 Thursday morning. The stock has a 52-week high of $54.68 and a 52-week low of $11.75.
Read Also: Trump Media Seeks AI Trademarks For Its ‘Non-Woke’ Platform
How To Buy DJT Stock
Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.
For example, in Trump Media & Tech Group’s case, it is in the Communication Services sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
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