Less than two weeks ago, DJT (Trump Media & Technology Group Corp) announced a deal to merge with fusion power company TAE Technologies, and DJT’s price jumped to $16.09/sh, more than a 40% gain – certainly nowhere near its peak of $97/sh, but perhaps a step towards it, or so many investors who are underwater are hoping. Any progress? Here’s a 1 month chart:
Nope. In fact, from that local high to today’s close of $12.57, it’s declined by 21%. Investors are not confident.
Perhaps in an effort to boost the price, DJT announced an addition to its, errr, menagerie of offerings:
Yorkville America Equities, sponsor and investment advisor for the Truth Social exchange traded funds (“ETFs”), announced that the first five Truth Social ETFs are launching today on the New York Stock Exchange.
The ETFs are part of the Truth.Fi fintech brand from Trump Media & Technology Group Corp. (Nasdaq, NYSE Texas: DJT) (“Trump Media”), operator of the social media platform Truth Social and the streaming platform Truth+. [Truth Social press release via yahoo!finance]
Their reasoning is a red flag:
Trump Media CEO and Chairman Devin Nunes said, “We’re gratified to make available a slate of ETFs for patriotic investors who want to invest in American ingenuity. These unique funds provide an excellent way for Americans to express their optimism about the strength, resiliency, and immense future prospects of the American economy.”
Designed to appeal to the inexperienced investor who has not yet learned to disconnect emotion from investing.
I have never learned the difference between mutual funds and ETFs, so I have little to offer on that front, but these instruments’ association with DJT are, for me, another red flag.
And, if meant to boost DJT’s price, it’s not having immediate success, see above. The next few business days should prove interesting.
