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Why Trump Media Stock Is Jumping Today

TheMotleyFool

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Shares of Trump Media Technology Group (NASDAQ: DJT) are jumping on Monday, up 7% as of 1:34 p.m. ET. The jump comes as the S 500 and the Nasdaq Composite are little changed.

Trump Media, the parent company of Truth Social, is teaming up with a major cryptocurrency exchange to launch a new company that will adopt a crypto accumulation strategy.

The new company will build a significant position in Cronos (CRO), the crypto token of Crypto.com, and go public via the special purpose acquisition company (SPAC) Yorkville Acquisition, with the ticker MCGA.

Source Fool.com

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