President-elect Donald Trump’s social media company Truth Social (DJT) saw its stock rally yesterday as investors prepare for him to take office next week. That rally had shares of DJT stock close out trading yesterday up 21.52%. This came alongside heavy trading with 46.07 million units changing hands, as compared to a three-month daily average of 11.22 million shares.
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Truth Social is giving up some of those gains in pre-market trading today, causing the stock to drop 7.85% this morning. Even so, the shares have undergone a massive 91.99% rally over the last year. A portion of that rally is tied to Trump’s 2024 election win in November.
Does Donald Trump Still Own Truth Social?
Trump was previously the largest shareholder of Trump Media, the parent company of Truth Social, before transferring his shares to a revocable trust last year. However, Trump is the sole beneficiary of this trust with Donald Trump Jr. acting as its sole trustee. This makes him an indirect holder of the largest stake in DJT stock.
Trump will likely maintain this trust for the four years he serves as President of the U.S. to avoid a conflict of interest. After that, it wouldn’t be surprising to see the shares in the trust returned to him. Until then, Trump Jr. will control the shares and vote with them in his father’s stead.
Is DJT Stock a Buy, Sell, or Hold?
There isn’t enough analyst coverage to determine a consensus rating or price target for Truth Social. Instead, investors will note that the TipRanks Technical Analysis has an Overall Consensus of Strong Buy for DJT shares. This is largely based on Bullish Moving Averages with the Technical Analysis leaning more Neutral over the last day.
