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DJT Stock Jumps 6% After Trump Signals Iran Progress

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DJT Stock Card

TLDR

  • DJT stock rose 6% and traded at $9.15 during Monday’s session.
  • President Donald Trump said the United States held productive talks with Iran over two days.
  • The Dow Jones Industrial Average gained 1,117 points, or 2.4%, after the announcement.
  • The Nasdaq Composite advanced 2.4% as markets reacted to the headlines.
  • The S&P 500 recorded a $3 trillion market value swing within one hour.

Trump Media & Technology Group Corp. shares climbed on Monday after President Donald Trump announced progress in talks with Iran. The rally followed a broader U.S. stock market surge that lifted major indexes. DJT stock gained 6% and traded at $9.15 during morning activity.

The advance tracked gains across Wall Street as traders responded to headlines from Washington. President Trump said the United States held productive discussions with Iran over two days. His comments triggered swift moves across equity markets and lifted risk sentiment.

DJT Stock Jumps as Markets React to Iran Developments

DJT stock rose 6% on March 23 and reached $9.15 in early trading. The Florida-based media company moved in line with major U.S. indexes. However, the stock remains down 30% year-to-date.


DJT Stock Card
Trump Media & Technology Group Corp., DJT

The Dow Jones Industrial Average jumped 1,117 points, or 2.4%, during the session. At the same time, the Nasdaq Composite also advanced 2.4%. The rebound followed a week when both indexes fell about 2%.

President Trump addressed the situation on Truth Social early Monday.

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He wrote that the United States and Iran held “very good and productive conversations” over two days. He added that the talks aimed at “a complete and total resolution of our hostilities in the Middle East.”

His statement lifted equity markets within minutes of publication. However, Iran later denied that officials held any contact with Washington. That denial led to rapid market swings during the same hour.

Trump Comments Trigger $3 Trillion S&P 500 Swing

The S&P 500 Index recorded a market capitalization swing of about $3 trillion within one hour. The move followed Iran’s response that rejected claims of direct talks. Markets reacted quickly to both the president’s statement and Tehran’s denial.

Art Hogan, chief market strategist at B. Riley Wealth Management, spoke with CNBC about the rally.

He said, “The market has been desperate for any good news.” He added that the update appeared to be “the best news we can expect.”

Equities had declined sharply in the prior week before Monday’s rebound. The Dow and Nasdaq both posted losses of roughly 2% during that period. Monday’s gains reversed part of those declines across major benchmarks.

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Trump Media & Technology Group Corp., listed under the ticker DJT on Nasdaq, moved alongside the broader market. The company operates Truth Social, the platform where the president shared his statement. Shares traded at $9.15 at the time of reporting and reflected the 6% daily gain.

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Crypto World

Strategy Buys 1,031 Bitcoin Using MSTR Stock Sales

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Strategy Buys 1,031 Bitcoin Using MSTR Stock Sales

Michael Saylor’s Strategy, the world’s largest public holder of Bitcoin (BTC), bought another 1,031 Bitcoin last week in a much smaller purchase than its previous two weekly buys, funding the acquisition with sales of Class A common stock.

Strategy acquired 1,031 Bitcoin for $76.6 million last week, according to an 8-K filing with the US Securities and Exchange Commission on Monday.

The purchases were made at an average price of $74,326 per coin, below the company’s overall average acquisition price of $75,694. Bitcoin averaged around $70,871 for the week of March 16-22, based on daily closing prices.

The new acquisitions bring Strategy’s holdings to 762,099 BTC, acquired for a total cost of roughly $57.69 billion, the company said.

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Source: SEC

Common stock funded the latest buy

Strategy’s relatively modest purchase follows larger Bitcoin acquisitions recently, including a 22,337 BTC buy reported last Monday and a 17,994 BTC buy a week earlier.

The 22,337 BTC ($1.6 billion) purchase ranks among Strategy’s largest on record and was largely funded through sales of its perpetual preferred equity, Stretch (STRC). The stock generated approximately $1.2 billion, accounting for about 75% of the total purchase.

Related: Strategy records biggest STRC issuance day with estimated 1,420 BTC buy

Unlike the prior week’s funding mix, the latest purchase appears to have been funded through sales of Strategy’s Class A common stock rather than preferred equity.

Source: SEC

Strategy has bought 41,362 Bitcoin for around $2.93 billion in March. With Bitcoin trading at $70,430 at the time of writing, the company is down around 7% on its BTC holdings, now worth around $54 billion, according to data from CoinGecko.

Related: Strategy halts Bitcoin buying via STRC: Will BTC price dip again?

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Strategy’s holdings are roughly 3% below the Bitcoin holdings of BlackRock’s iShares Bitcoin Trust ETF (IBIT), which held about 785,300 BTC on behalf of its clients after the close of trading on Friday.

US spot Bitcoin ETFs collectively held nearly 1.3 million BTC as of March 20, representing roughly 6.1% of the 21 million maximum Bitcoin supply, according to data from WalletPilot.

Magazine: Metaplanet’s Japan Bitcoin bet, Bithumb ordered suspension: Asia Express