DJT stock and Trump Media and Technology Group performance

Trump Media and Technology Group, the parent company of Truth Social, became a publicly traded company on March 26, 2024 through a merger with the special purpose acquisition company Digital World Acquisition Corp. The new ticker, DJT, opened on NASDAQ and closed its first session at $57.99, briefly giving the company a market capitalization of about $7.9-8 billion. Donald Trump's stake in the merged entity was worth several billion dollars at that close, instantly returning him to the Forbes 400, the list he had been removed from in October 2023.

The operating reality of the company did not match the listing-day enthusiasm. Truth Social, the company's flagship product, generated 2025 full-year revenue of $3.68 million against a net loss of $712.06 million, according to filings disclosed in the company's February 27, 2026 press release announcing the spin-off of Truth Social into a separate publicly traded entity. By comparison, the loss was equivalent to roughly 193 times the company's reported annual revenue, a ratio that has no peer among NASDAQ-listed media companies of similar size.

Management turnover accelerated in 2026. Devin Nunes departed as chief executive officer, and Kevin McGurn was appointed interim chief executive officer on April 21, 2026. By late April 2026 DJT closed at about $9.74 per share, an 83% decline from the opening close, and market capitalization had fallen to roughly $2.7-2.8 billion. SEC Form 8-K filings disclosed multiple capital raises, share issuances, and shifts in corporate strategy across 2024-2026, including a pivot toward bitcoin and decentralized finance products. The performance of DJT relative to its IPO close and to comparable media companies makes it one of the worst-performing major U.S. SPAC mergers of the 2020s.