Trump Media Stock Overview

Trump Media & Technology Group (NASDAQ: DJT) is the parent company of Truth Social, controlled and operated by former U.S. President Donald Trump. Since going public in March 2024 through a merger with a special purpose acquisition company (SPAC), DJT stock has been driven by Trump’s political influence and fan economy, exhibiting distinct “celebrity stock” characteristics. Although Truth Social has limited revenue, DJT has seen a cumulative increase of nearly 95% since 2024, becoming one of the alternative targets of interest on Wall Street.

As of the first half of 2025, DJT remains a high fluctuation, high-risk stock. The company’s net loss for 2024 reached as high as $400.9 million, and it continued to incur losses in the first quarter of 2025, with meager revenue: the revenue for 2024 was only $3.6 million, compared to $4.1 million in 2023, and user engagement is lower than that of mainstream social platforms. Nevertheless, DJT’s market value still stands at several billion dollars, primarily driven by speculative buying from Trump supporters and political expectation games.

The reason behind the stock price plummet on June 5th

On June 5, 2025, DJT’s stock price fell by 8.04% due to a heated dispute between Trump and Elon Musk in public. Trump threatened to cut government contracts with Musk’s companies (such as Tesla), while Musk criticized Trump’s tax legislation. This news not only caused Tesla’s stock to plummet by 14.3%, but also dragged DJT down by 8.04%. On that day, the Nasdaq index fell by 0.8% overall, highlighting the transmission effect of political events on market sentiment.

Specifically, on June 5, the closing price of DJT fluctuated around 20 USD (due to discrepancies among different information sources, but overall remained in the 20-22 USD range), with a daily decline of about 8%. Previously, it had briefly reached a high of 79 USD at the end of March. Such a drastic fluctuation reflects the market’s concerns about the company’s fundamentals and political maneuvering.

Overall performance and driving factors since 2025

1. Stock price trend from the beginning of the year to date

Since 2025, the DJT stock price has shown an overall downward Fluctuation. At the beginning of the year, due to the positive outlook for Trump’s election prospects, it once rose by 3.5% (as of the current statistics), but subsequent legal lawsuits and the fluctuating market environment have put pressure on the stock price. As of early June, the cumulative increase of DJT this year is only 3.5%, in contrast to a 0.8% decline in the S&P 500.

2. Driving Factors Analysis

• Political factors: The expectation of Trump’s re-election is an important driver for DJT’s stock price; however, any negative news (such as a guilty verdict or policy differences) may lead to a rapid adjustment of the stock price. For example, after Trump’s victory last November, DJT’s stock price briefly soared.
• Company fundamentals: A net loss of $400.9 million in 2024, still in the red in the first quarter of 2025, user activity far below competitors, weak revenue, and continuous cash reserve depletion.
• Market Sentiment and Speculation: A large number of retail investors and Trump supporters view DJT as an emotional trading target, with frequent short-term trading. Whenever Trump speaks or releases a new project, stock prices often experience significant fluctuations.
• Macroeconomic Environment: The Federal Reserve’s interest rate hike and the overall adjustment of technology stocks have also created downward pressure on high-risk assets.

Future Outlook: Bitcoin ETF and Truth.Fi Plan

1. Bitcoin ETF application

In June 2025, Trump Media announced plans to launch the “Truth Social Bitcoin ETF B.T.”, which will directly hold Bitcoin, using Crypto.com as the custodian and Yorkville America Digital as the sponsor. According to the application materials, the company plans to combine its $2.3 billion Bitcoin reserves with the ETF to meet retail investor demand and inject new imagination into DJT’s future growth. Although this initiative still requires regulatory approval, the market suggests that once the Bitcoin ETF is approved, it is expected to bring short-term catalysts to DJT’s stock price.

2. Truth.Fi Financial Services

In January 2025, Trump Media announced the launch of its fintech brand Truth.Fi, planning to invest $250 million in products such as cryptocurrencies, ETFs, and customized portfolios, with funds managed by Charles Schwab. The business covers the U.S., European, and Asian markets, aiming to create an “America First” investment ecosystem. Once Truth.Fi operates successfully, it will become a new revenue engine for the company, but in the short term, it still faces profitability pressures and regulatory uncertainties.

Investor Notice and Risk Warning

1. Political fluctuation risk: As a target highly tied to Trump’s personal brand, any negative news related to his political reputation may lead to a rapid collapse in stock prices.
2. Weak financial fundamentals: two consecutive years of net losses exceeding hundreds of millions of dollars, lack of sustainable revenue growth, and a lack of valuation support if operational improvements are not significantly made.
3. Macroeconomic and technology stock risks: The tightening of Federal Reserve policies and the decline in market risk appetite may amplify the effects on DJT.
4. Regulatory and legal risks: The company is currently facing multiple lawsuits and SEC scrutiny, and there is regulatory uncertainty surrounding Truth.Fi’s Bitcoin ETF application. If restrictions are imposed in the future, it will exacerbate stock price fluctuations.
5. Impact of Speculative Sentiment: A significant increase in retail speculative behavior intensifies high-frequency trading, which may lead to severe fluctuations in the short term. New investors are advised to remain cautious.

Conclusion

As of June 2025, Trump Media Stock (DJT) has been affected by events such as the public dispute between Trump and Elon Musk, resulting in a single-day drop of 8%. However, it has still maintained a slight increase since the beginning of the year. In the future, if the Bitcoin ETF and Truth.Fi business are implemented, it is expected to provide positive momentum for the stock price; however, in the context where the company’s fundamentals have not significantly improved, investors need to pay close attention to political and regulatory trends, and rationally assess risks before making further investments.