Smart Trade Insights
  • Business
  • Economy
  • Investing
  • Politics
Top Posts
Cardiol Therapeutics
Providence Gold Mines Inc. Announces Financing Update on...
Editor’s Picks: Gold Knocks Out Inflation-Adjusted High, Silver...
Top 5 Canadian Mining Stocks This Week: Guardian...
Kobo Resources Announces Closing of First Tranche of...
Allied Critical Metals Expands Santa Helena Breccia in...
Bold Ventures Announces Prospecting and Sampling Results and...
Locksley Resources Adds 249 Additional Claims to Landholding...
Rio Silver arranges $1.3M private placement
Crypto Market Update: Klarna Raises US$1.37 Billion in...
  • Business
  • Economy
  • Investing
  • Politics

Smart Trade Insights

Economy

Truth Social app on the Nasdaq as DJT, closed 16% higher

by admin November 20, 2024
November 20, 2024
Truth Social app on the Nasdaq as DJT, closed 16% higher

Trump Media, the parent company of the Truth Social app, is in “advanced talks” to acquire cryptocurrency trading firm Bakkt, according to a report by the Financial Times. The news has caused both companies’ stock prices to skyrocket. Trump Media’s shares surged by more than 16%, reflecting growing investor interest in its potential cryptocurrency ventures.

Despite a net loss of $363 million for the year on just $2.6 million in revenue, Trump Media’s market cap remains above $7 billion, driven largely by speculation surrounding the 2024 U.S. presidential election and retail investors betting on Trump’s political prospects. The company holds nearly $673 million in cash, positioning it for strategic investments, including its potential acquisition of Bakkt.

Bakkt, founded in 2018, has struggled financially but reported improvements in its latest fiscal quarter, with a 48% reduction in operating losses. However, it has warned that it may face significant financial difficulties ahead.

The reported acquisition could mark Trump Media’s deeper entry into the cryptocurrency sector, a space it has been eyeing with other ventures, such as the World Liberty Financial token. This strategic move could enhance Trump Media’s diversification and financial position, especially as it seeks to expand its business interests ahead of the 2025 presidential election.

Stock Analysis: Trump Media & Technology Group Corp. (DJT)

The 15-minute chart of Trump Media & Technology Group Corp. (DJT) reveals a sharp bullish surge, reflecting market optimism following recent news developments. The stock opened strong and climbed significantly, reaching a session high of $33.88 before consolidating around $32.81, marking a 1.08% gain for the day.

This rally began after a breakout from the $27.00-$28.00 resistance zone, which had acted as a cap on price action over the past few sessions. The upward momentum was accompanied by a steep rise in the Relative Strength Index (RSI), which is currently at 88.37, indicating the stock is in overbought territory. This suggests that while the current uptrend is strong, some pullback or consolidation may occur in the short term as traders take profits.

Key support levels to monitor are $30.00 and $28.00, which could provide a base for the stock if the price retraces. On the upside, the immediate resistance is at $34.00. A break above this level could push the stock toward the $36.00 mark.

Overall, the stock shows strong bullish sentiment driven by positive news catalysts. However, traders should remain cautious of the overbought RSI and watch for volume trends to confirm sustained momentum or potential corrections.

The post Truth Social app on the Nasdaq as DJT, closed 16% higher appeared first on FinanceBrokerage.

previous post
Super Micro stock surges
next post
Top 5 Life Science ETFs in 2024

You may also like

Bitcoin & Ethereum: Sharp Fall on Oct 31,...

November 4, 2024

Gold and Silver: Gold was back above $2,670...

October 3, 2024

Tesla (TSLA) Stock: Revenue Hits $25.18B, EPS Beats...

October 25, 2024

Nasdaq 100 Future: Market Trends & Nvidia’s Impact

August 30, 2024

SafeMoon and Litecoin: Targets and Prices for Tuesday

October 9, 2024

Bad start this week for Bitcoin, forming a...

August 6, 2024

S&P 500 and Nasdaq: Targets and Prices for...

October 13, 2024

Oil Breaks Key Pattern: Oil Volatility & Natural...

November 9, 2024

EUR/USD & EUR/GBP Analysis: High Volatility with Trends

November 6, 2024

Ripple is strengthening the bullish momentum, Tron is...

August 9, 2024

    Fill Out & Get More Relevant News


    Stay ahead of the market and unlock exclusive trading insights & timely news. We value your privacy - your information is secure, and you can unsubscribe anytime. Gain an edge with hand-picked trading opportunities, stay informed with market-moving updates, and learn from expert tips & strategies.

    Recent Posts

    • Cardiol Therapeutics

      September 13, 2025
    • Providence Gold Mines Inc. Announces Financing Update on the La Dama de Oro Gold Property

      September 13, 2025
    • Editor’s Picks: Gold Knocks Out Inflation-Adjusted High, Silver Breaks US$42

      September 13, 2025
    • Top 5 Canadian Mining Stocks This Week: Guardian Exploration Gains 94 Percent

      September 13, 2025
    • Kobo Resources Announces Closing of First Tranche of Non-Brokered Private Placement for Gross Proceeds of over $2.5 Million

      September 12, 2025
    Promotion Image

    banner ads

    Categories

    • Business (854)
    • Economy (829)
    • Investing (2,811)
    • Politics (737)
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: smarttradeinsights.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2025 smarttradeinsights.com | All Rights Reserved