Is Trump Media Stock a Buy Now?
With the U.S. presidential election nearing, the perception regarding Republican candidate Donald Trump's chances of winning has boosted shares of Trump Media Technology Group (NASDAQ: DJT) in recent weeks. This is to be expected since company officials admit its success depends in part on Trump's popularity.
Despite the gains, Trump Media stock trades well off its 52-week high of $79.38 reached on March 26, the day of its initial public offering (IPO) after merging with a special purpose acquisition company (SPAC). But it also trades well up from when it still traded as a SPAC at the start of 2024. Does this mean now is a good time to buy shares? A lot depends on your perception of what constitutes a good stock.
For instance, according to Trump Media, the majority of shareholders are retail investors. This means individual stockholders have a greater voice than is often possible among companies with significant market capitalization, such as Trump Media with its $6 billion market cap at the time of this writing. Contrast this to , in which institutional investors own over 70% of its stock.
Source Fool.com
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