Traders Show Interest in Trump Media & Technology Group Call Options

Trump Media & Technology Group Corp. (NASDAQ:DJT - Get Free Report) experienced a significant surge in options trading activity on Tuesday, with traders acquiring a substantial total of 129,662 call options. This figure marks an approximate 30% increase when compared to the average daily volume of 99,912 call options.

Insider Trading Activities

Additionally, recent transactions among the company's insiders have caught attention. On Thursday, August 22nd, General Counsel Scott Glabe sold 4,083 shares of Trump Media & Technology Group's stock, receiving an average price of $22.70 per share. This sale amounted to a total of $92,684.10. Following this transaction, Glabe now retains 15,917 shares of the company, valued at around $361,315.90, reflecting no change in their ownership percentage.

Another notable insider transaction involved COO Andrew Northwall, who sold 3,467 shares of the firm on the same day for an average price of $22.70, totaling $78,700.90. After this sale, Northwall holds 16,533 shares, valued at $375,299.10, with no change in ownership percentage. Over the last 90 days, insiders have collectively sold 128,138 shares worth approximately $2,908,733, with current insider holdings at 14.80% of the company's total stock.

Institutional Investors and Their Stakes

In recent developments, institutional investors and hedge funds have been adjusting their holdings in Trump Media & Technology Group. For instance, during the third quarter, Sapient Capital LLC acquired a new stake in the company valued at around $2,339,000. Creative Planning also bought a new position worth approximately $538,000, while CWM LLC purchased around $66,000 worth of shares. Other firms, including Avondale Wealth Management and Moisand Fitzgerald Tamayo LLC, also joined in adding new positions during this period. Currently, institutional ownership stands at 4.29% of the company's stock.

Recent Stock Performance

On Tuesday, during mid-day trading, shares of Trump Media & Technology Group saw a decline of $2.89, bringing their price to $27.06. A total of 98,873,153 shares were traded, significantly higher than the average volume of 9,002,861. The company's 50-day moving average is recorded at $19.65, while its 200-day moving average stands at $32.34. The stock has a 1-year low of $11.75 and a 1-year high reaching $79.38.

Company Background

Trump Media & Technology Group Corp. was established in 2021 and is headquartered in Sarasota, Florida. The company operates a social media platform called Truth Social, which provides social networking services within the United States.

Conclusion and Caution for Investors

For those considering an investment in Trump Media & Technology Group, it's important to take a cautious approach. Market analysts currently rate the company with a "hold" status while highlighting five other stocks that they believe present better investment opportunities at this time. Potential investors should thoroughly research and consider these recommendations before making any financial decisions.

Trading, Options, Investing