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SARASOTA, Fla. - Trump Media and Technology Group Corp. (NASDAQ: DJT), trading at $14,814.70 with a year-to-date decline of 6.8%, addressed what it called inaccurate reports regarding its recent U.S. Securities and Exchange Commission filing. According to InvestingPro data, the stock has seen significant market interest, with an average daily trading volume of 134.5 million shares over the past three months. The company clarified that the filing was a routine re-registration of shares and not indicative of any upcoming sale by the Trump trust.
In a statement released today, TMTG emphasized that the shares in question were originally registered in June on an S-1 form and the current S-3 form submission is simply to maintain effective filings. TMTG refuted claims that the action was a precursor to a sell-off by affiliates, stating that no such window for selling shares is currently open.
TMTG, which operates the Truth Social network, aims to provide a platform for free speech in response to what it sees as excessive censorship by major tech companies. Alongside its social media venture, TMTG has expanded into streaming with Truth+, which offers family-oriented live and on-demand content. The company is also venturing into financial services with Truth.Fi, which is set to include investment vehicles aligned with an America First philosophy.
The company’s forward-looking statements, as defined under the U.S. Private Securities Litigation Reform Act of 1995, outline its business and financial strategies, including product rollouts and potential collaborations. However, TMTG also acknowledges the inherent risks and uncertainties associated with these projections, such as achieving anticipated benefits, regulatory approvals, and maintaining or growing its user base and profitability.
Investors are advised to consider the risks detailed in TMTG’s Annual Report on Form 10-K for the year ended December 31, 2024, and other SEC filings. The company’s forward-looking statements are subject to change, and it has no obligation to update them except as required by law.
This clarification comes amid heightened scrutiny of TMTG’s business operations and market activities. The information is based on a press release statement from Trump Media & Technology Group.
In other recent news, Trump Media and Technology Group Corp. (TMTG) announced its debut as the first listing on the newly established NYSE Texas, while maintaining its primary listing on NASDAQ. The company also revealed a partnership with Crypto.com to launch a series of exchange-traded funds (ETFs) through its financial brand Truth.Fi, focusing on American industries and digital assets. This collaboration includes the launch of Truth.Fi Separately Managed Accounts (SMAs), with Charles Schwab named as the custodian. In the streaming sector, TMTG expanded its services by launching the Truth+ app for Roku TV devices, offering a variety of family-friendly programming. Additionally, TMTG updated its Truth Social app to enhance group features and security, aiming to improve user experience. The company, along with Rumble, has taken legal action to challenge a Brazilian Supreme Court Justice’s order to suspend Rumble’s operations in Brazil. These developments underscore TMTG’s ongoing efforts to expand its reach across various platforms and industries.
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