Trump Media and Technology Group (NASDAQ:DJT) was on a rollercoaster ride in pre-market trading after a New York jury found former President Donald Trump guilty of 34 felony counts in his hush money trial. The jury found Trump guilty of falsifying business records. Trump’s sentencing is scheduled for July 11. The former President is expected to appeal the sentence. Donald Trump is a majority shareholder with a 65% stake in Trump Media, which owns Truth Social, a social media app.
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In March, Trump Media merged with Digital World Acquisition Corp., which currently has a market cap of around $9 billion. In the first quarter, DJT reported a Q1 net loss of $327.6 million on less than $1 million in revenue.
Is DJT Stock a Good Buy Right Now?
Turning to Wall Street, no analysts are covering DJT stock as yet. Therefore, we look to the last five days of trading. DJT stock is up by more than 10% during this time frame.
