All posts tagged: Breaking News: Markets

Trump Media shares rise again, jump 50% in the past week

Trump Media shares rise again, jump 50% in the past week

Jonathan Raa | Nurphoto | Getty Images Trump Media shares climbed 7% Tuesday, continuing a rise that has seen the Truth Social owner surge about 50% in the past week. DJT was trading at roughly $50 a share, about 30% below its opening price of $70.90 in late March. The stock has had several volatile days in the past month, trading at a high of about $60 a share and a low of just over $20 per share. Trump Media’s rise has come without significant news about its finances improving. The company’s social media business had $58 million in losses last year and just $4.1 million in revenue. More news on Donald Trump The recent climb in the stock may be the result of steps the company has taken to target short sellers, according to Jay Ritter, a business professor at the University of Florida who is an expert on initial public offerings. “In the last week or so, the company has informed its shareholders how to make it difficult to loan their shares to short …

Trump Media shares soar more than 12% in afternoon trading

Trump Media shares soar more than 12% in afternoon trading

Jonathan Raa | Nurphoto | Getty Images The share price of Trump Media soared by more than 12% in afternoon trading Monday, continuing a stunning rise that began in mid-April. The DJT ticker was up more than $5 per share just before 1 p.m. ET. Trump Media owns the Truth Social app frequently used by the company’s majority shareholder, former President Donald Trump, who is also the presumptive Republican presidential nominee this year. “TRUTH SOCIAL IS THE REAL VOICE OF AMERICA!!!” Trump wrote in a post on the site earlier Monday. The company began public trading on March 26 with a price of more than $70 per share. Over the next several weeks, share prices cratered, ending up with a low closing price of $22.80 on April 16. Stock Chart IconStock chart icon DJT share price Since then, Trump Media shares have more than doubled in price, adding billions of dollars to the company’s market capitalization, and to the ex-president’s stake. The gains have occurred without any significant news about the company’s bottom line improving. …

Trump Media shares plunge before former president’s stock bonus

Trump Media shares plunge before former president’s stock bonus

Jonathan Raa | Nurphoto | Getty Images Trump Media shares fell 8% Tuesday as former President Donald Trump qualified for an expected earnout bonus. DJT closed at $32.57 per share, about 50% below its opening price last month of more than $70. Trump will receive an additional 36 million shares, worth about $1.15 billion, because the stock closed above a $17.50 minimum share price. The earnout was contingent on the stock reaching the benchmark for 20 trading days within a 30-trading-day period. Trump, the majority shareholder in DJT, already owns 78.75 million shares. The former president’s stake in the company will be worth about $3.7 billion with the earnout bonus. A spokesperson for Trump Media did not respond to CNBC’s request for comment about the earnout. The company also released a statement Tuesday highlighting steps shareholders could take to prevent the lending of their stock for short selling. On Friday, Trump Media warned the Nasdaq CEO of “potential market manipulation” of the company’s stock by “naked” short selling of shares. Don’t miss these exclusives from …

Trump set to get millions more Trump Media shares

Trump set to get millions more Trump Media shares

Anna Barclay | Getty Images Former President Donald Trump is poised to receive an additional 36 million shares of Trump Media on Tuesday — an “earnout” bonus worth more than $1.25 billion, at Monday’s price. Shares of Trump Media, which owns the Truth Social app, were trading at around $35 per share midday Monday, about half the price per share they debuted at in March. But that price is twice the $17.50 benchmark minimum share price, which the DJT ticker has to hit by the close of trading Tuesday, for Trump to become eligible for the extra so-called earnout shares. That earnout is contingent on the benchmark being hit for 20 trading days within a 30 trading-day period, beginning March 25. Tuesday is the 20th day, and it is very unlikely that DJT will fall below the benchmark price by the end of that day. Trump Media’s share price was down about 1.8% as of 12:17 p.m. ET. The 36 million additional shares for Trump would be added to the 78.75 million shares he already …

Citadel Securities blasts Trump Media CEO over DJT short sale letter

Citadel Securities blasts Trump Media CEO over DJT short sale letter

Devin Nunes, chief executive officer of Truth Social, speaks during the Conservative Political Action Conference (CPAC) in National Harbor, Maryland, US, on Thursday, March 2, 2023.  Al Drago | Bloomberg | Getty Images Citadel Securities ripped Trump Media CEO Devin Nunes on Friday for a letter he sent to the Nasdaq that mentioned Citadel Securities and other major market companies after warning of possible illegal short selling of Trump Media shares. “Devin Nunes is the proverbial loser who tries to blame ‘naked short selling’ for his falling stock price,” said a spokesperson for Citadel Securities. Citadel Securities’ founder and non-executive chairman, Ken Griffin, is a major donor to Republican candidates — among them Nunes, a former GOP congressman. “Nunes is exactly the type of person Donald Trump would have fired on [The] Apprentice,” said the spokesperson, referring to the former Republican president’s business competition reality TV show. “If he [Nunes] worked for Citadel Securities, we would fire him, as ability and integrity are at the center of everything we do,” the spokesperson added. A spokeswoman …

Trump Media alerts Nasdaq to potential DJT stock manipulation

Trump Media alerts Nasdaq to potential DJT stock manipulation

Jonathan Raa | Nurphoto | Getty Images Trump Media has warned the CEO of the Nasdaq Stock Market of ‘potential market manipulation’ of the company’s stock by “naked” short selling of shares. The warning came as Trump Media has offered shareholders detailed instructions on how to avoid someone loaning out their DJT shares to short sellers, who then execute trades betting that the price of the stock will fall. Trump Media disclosed the warning to Nasdaq CEO Adrena Friedman in a filing Friday morning with the Securities and Exchange Commission. DJT’s share price has rallied in recent days, but is still sharply lower than the more than $70 per share it debuted with on March 26. Former President Donald Trump owns nearly 60% of Trump Media shares. The paper value of his stake has dropped by billions of dollars since DJT began public trading last month. Trump Media CEO Devin Nunes in his letter to Friedman did not directly accuse anyone in particular of naked short selling, which is the sale of stocks without first …

Trump Media tells DJT shareholders how to block short sellers

Trump Media tells DJT shareholders how to block short sellers

Jonathan Raa | Nurphoto | Getty Images Trump Media is making a point of telling its shareholders how to prevent their stock from being loaned to short sellers — who bet the price of the shares will drop. The short-selling-prevention tips posted Wednesday on Trump Media’s website come as its DJT stock has fallen sharply in price since it began being public trading on March 26 — and as short sellers have taken a keen interest in the owner of the Truth Social app despite relatively high fees to finance such trades. “It certainly shows concern” about short selling of Trump Media stock, said Kevin Murphy, a business professor at the University of Southern California who is an expert on executive compensation. “I haven’t seen it before,” Murphy said when asked how common it is for companies to give shareholders instructions on how to thwart short sellers. “Managers who … think the stock is undervalued aren’t going to be overly concerned about short sellers,” he said. Trump Media’s share price rose sharply on Thursday by …

Qatar re-evaluates key mediator role in Middle East conflict

Qatar re-evaluates key mediator role in Middle East conflict

U.S. Secretary of State Antony Blinken is greeted by Qatari officials upon his arrival in Doha, Qatar, Friday Oct. 13, 2023. Jacquelyn Martin | Reuters Qatar is reconsidering its role as cease-fire broker between Israel and Palestinian militant group Hamas, the Gulf state’s prime minister said, expressing concerns that Doha’s mediation has been subject to “political exploitation.” In a late-Wednesday statement, Sheikh Mohammed bin Abdulrahman Al Thani “lamented the political exploitation by some politicians with narrow interests, marketing their electoral campaigns through the defamation of Qatar’s role.” He did not reference any politicians or states by name, but noted that Doha has observed the “misuse” of its mediation and “its employment for narrow political interests,” stressing that Qatar will undertake a “comprehensive evaluation” of its diplomatic position without indicating a timeline. Earlier this week, U.S. Congressman for Maryland, Steny Hoyer (D-Md.) had issued a statement urging Qatar to “apply pressure on Hamas to accept a reasonable deal” for a temporary truce in exchange for the return of captives abducted by the Palestinian group during its …

Trump Media shares rise more than 10%

Trump Media shares rise more than 10%

Jonathan Raa | Nurphoto | Getty Images The price of Trump Media shares rose by more than 10% in early trading Wednesday. The big bump for DJT followed two days of share losses on the Nasdaq. Trump Media, which owns the Truth Social app, closed more than 14% lower on Tuesday, and by more than 18% on Monday. The company, whose majority shareholder is former President Donald Trump, began public trading on March 26 with an opening price of more than $70 per share. Since then, the share price has plummeted. Even with the sharp rise early Wednesday, DJT was trading for less than $25 per share as of 10:04 a.m. ET. Trump Media, whose market capitalization is more than $3.4 billion, had revenue of just $4.1 million last year. This is breaking news. Please check back for updates. Source link

Trump Media shares fall, Truth Social will launch TV platform

Trump Media shares fall, Truth Social will launch TV platform

Jonathan Raa | Nurphoto | Getty Images The price of Trump Media shares closed trading more than 14% lower Tuesday, hours after after the company announced its Truth Social platform is moving to launch a live TV streaming platform. The sharp fall of DJT shares came after they ended trading Monday on the Nasdaq down by more than 18%. DJT closed at $22.84 per share, 14.17% lower than the opening price. The stock’s price has dropped by a whopping 67.7% since Trump Media began trading as a public company on March 26, erasing more than $5 billion in market capitalization. Trump Media’s majority shareholder is former President Donald Trump, who holds nearly 60% of its stock. Trump was in court in New York on Tuesday for his criminal hush money trial, where the first six jurors were picked. Earlier Tuesday, Trump Media in a press release said it “has finished the research and development phase of its new live TV streaming platform and will begin scaling up its own content delivery network.” The company said …