On Monday, it was announced that Trump Media & Technology Group (DJT), the owner of social media platform Truth Social, had been included in the Russell Indexes as part of their annual reconstitution. This development is considered significant as it can increase the company’s visibility and potentially attract more investment from index funds. Being part of the Russell Indexes, specifically the Russell 1000 which includes the largest U.S. companies, can improve liquidity and draw in institutional investors.
In a separate development on Monday, the Supreme Court ruled that former President Donald Trump and other past presidents have immunity for actions within their Constitutional authority while in office but not for unofficial acts. This ruling positively impacted Trump Media’s stock, with Trump holding a majority stake. Over the last 12 months, DJT stock has surged by 162%, leading some experts to compare it to meme stock GameStop Corp (GME).
At the time of writing on Tuesday, DJT shares were trading higher by 0.48% to $33.24 premarket. All market news and data are brought to you by Benzinga APIs. It is important to note that Benzinga does not provide investment advice and all rights are reserved.