Insights from Morgan McGarvey's Trade in Trump Media Stock
- Morgan McGarvey's trade in Trump Media stock (NASDAQ:DJT) occurred during a politically sensitive period, raising questions about the timing.
- DJT stock has experienced volatility, with recent performance not matching the post-election rallies seen in other equities.
- The stock's future growth potential is tied to its ability to align with underlying fundamentals amidst insider and institutional sell-offs.
Democratic Representative Morgan McGarvey recently made headlines with a trade involving Trump Media stock (NASDAQ:DJT), a company linked to President-elect Donald Trump. The trade occurred on November 6, 2024, just after the presidential election. 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.
| Symbol | Price | %chg |
|---|---|---|
| 035420.KS | 206500 | 2.18 |
| 035720.KS | 37000 | 0.41 |
| 0700.HK | 380 | 0.11 |
| GOOG.NE | 32.37 | 0.4 |
Trump Media and Technology Group's Stock Volatility Amid Political Developments
- Notable stock volatility is observed in Trump Media and Technology Group (NASDAQ:DJT) due to political statements by President-elect Donald Trump.
- The stock price of DJT is currently $34.30, experiencing a decrease of 2.61% or $0.92.
- Over the past year, DJT's stock has had a high of $79.38 and a low of $11.75, indicating significant market sensitivity to political events.
Trump Media and Technology Group, listed on the NASDAQ as DJT, is experiencing notable stock volatility due to political developments involving President-elect Donald Trump. The company's stock is highly sensitive to Trump's political statements, such as his recent comments on Greenland and the Panama Canal. These events have led to significant fluctuations in DJT's share price.
Currently, DJT's stock price is $34.30, marking a decrease of 2.61% or $0.92. The stock has shown volatility today, with a low of $33.89 and a high of $34.87. This reflects the market's reaction to Trump's political statements, which can cause rapid changes in investor sentiment and stock performance.
Over the past year, DJT's stock has experienced a wide range, reaching a high of $79.38 and a low of $11.75. This indicates the stock's susceptibility to external factors, particularly political events. The company's market capitalization is approximately $7.44 billion, highlighting its significant presence in the market despite the fluctuations.
The trading volume for DJT is 1,051,277 shares, suggesting active investor interest and engagement. This level of trading activity can amplify the stock's sensitivity to political developments, as investors react quickly to news and statements from Trump.
Trump Media Faces Stock Decline on NASDAQ Following Stake Transfer
- The stock price of NASDAQ:DJT has decreased by about 5%, following President-elect Donald Trump's decision to transfer his stake.
- DJT has shown significant volatility, with a yearly high of $79.38 and a low of $11.75.
- The current market capitalization of Trump Media is approximately $7.44 billion, indicating the company's overall market value.
Trump Media, the parent company of Truth Social, is currently facing a decline in its stock value on the NASDAQ, trading under the symbol DJT. This decline follows the announcement that President-elect Donald Trump has transferred his stake in the company to a trust. This move is a notable change from his previous stance in November, where he stated he had no plans to sell his shares.
The stock price of DJT is approximately $34.27, marking a decrease of about 5% or $1.81. This drop in value reflects the market's reaction to Trump's decision to transfer his shares. The stock has seen fluctuations today, with a low of $33.41 and a high of $35, indicating some volatility in investor sentiment.
Over the past year, DJT has experienced significant price swings, reaching a high of $79.38 and a low of $11.75. This wide range highlights the stock's volatility and the market's varying perceptions of the company's value. The current market capitalization of Trump Media is approximately $7.44 billion, which provides a snapshot of the company's overall value in the market.
The trading volume for DJT is 3,914,922 shares, suggesting active investor interest and engagement with the stock. This level of trading activity can influence the stock's price movements and reflects the market's response to recent developments regarding Trump's stake in the company.
Trump Media Shares Drop Over 6% After Jury Convicts Trump in Hush Money Case
Trump Media & Technology Group (NASDAQ:DJT), a media and technology company primarily owned by Donald Trump, experienced a more than 6% drop intra-day today after a New York jury found the former US President guilty in the high-profile hush money case.
After two days of deliberation, the jury convicted Trump of falsifying documents to conceal a payment made to silence a porn star before the 2016 election.
Judge Juan Merchan scheduled sentencing for July 11, just days before the Republican National Convention begins on July 15, where Trump is expected to be officially nominated for president.
Since its initial public offering (IPO) in March, DJT stock has garnered significant attention from Trump supporters and speculators, with shares rising as much as 59% on their Nasdaq debut.
