Trump Media & Technology Group (DJT) has been consistently trending lately, but Wall Street doesn’t seem to care. As the 2024 U.S. presidential election approaches, predictive betting markets are consistently shifting in Donald Trump’s favor. But even as his theoretical odds of victory increase, Wall Street analysts don’t seem concerned about the stock that trades under his initials. Analysts have issued no recent ratings or price targets for the parent company of Truth Social.
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What’s Happening with DJT Stock
Despite some volatility over the past month, DJT stock has risen steadily, enjoying the pre-election momentum that is favoring Trump. This trend doesn’t seem to be slowing down as the election draws closer. As of this writing, it is up 24% for the month despite a dip in September that sent shares plunging.
Even with this performance and the attention that DJT stock is attracting, Wall Street analysts aren’t taking notice. There have been zero ratings issued over the past three months and no price targets. It’s not uncommon for analysts to ignore penny stocks or similar micro-cap companies. But DJT stock currently trades at $39 per share and has a market cap of $7.81 billion. This suggests that experts aren’t taking the stock or the company seriously, even ahead of a potential Trump victory.
Is DJT Stock a Buy, Sell, or Hold?
Since analysts have issued no ratings for DJT stock, it is difficult to assess which rating it deserves. TipRanks reporter Ran Melamed recently assessed the problems facing Truth Social, predicting that investors are “likely to get an eventful, high-rating reality show with twists and turns, and in the end, the public will decide on the winner.”
On top of that, recent data suggests that short sellers may be closing in on DJT stock. This shows that some investors are betting against it, clearly regarding it as a Sell. Most of Wall Street likely regards it as a meme stock, specifically one that isn’t worth anyone’s time.
