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DJT Weekly Chart Courtesy of StockCharts.Com

Prior to the official merger in March of 2024, DJT traded as a Special Purpose Acquisition Company (SPAC).

Reporting is all over the place. Most charts do not show a $175 high.

The above table is from Grok.

Google AI Synopsis

DWAC’s historical price data shows significant volatility, with a 52-week low of approximately $12.40 and a high of $58.72. The price had an all-time high of $97.54 on March 4, 2022, and a low of $9.92 on October 4, 2021. Recent data from March 2024 shows a price range from the high $30s to the $50s, while data from late 2025 shows a price around $10.29.

The stock was highly volatile in 2021, with one period showing an 845% rally in two days followed by a significant drop.

What’s the Decline from the High?

The closing high of DWAC is $97.54. It’s down 88.2 percent since then. The intraday high on DWAC varies by source. It’s down 93.3 percent if one uses 175 as the high.

The intraday high as DJT was appropriately on the first day of trading at $79.38. It’s down 85 percent since then.

DWAC’s 2021 run-up was a classic SPAC/meme bubble, with prices detached from fundamentals.

DJT Earnings History

• The company behind the DJT ticker, Trump Media & Technology Group, is not profitable. For the full year 2024, it reported a significant net loss of over $400 million and its revenue declined. The company operates at a loss, with negative margins and returns.
• Net Loss: The company’s net loss widened to $400.9 million in 2024 from $58.2 million in 2023.
• Revenue: Revenue declined 12% year-over-year to $3.6 million in 2024.
• Earnings per Share (EPS): The loss per share was $2.36 for 2024.
• Profitability: The company is not profitable and continues to operate at a loss.
• Trump Media & Technology Group released Q2 2025 earnings on August 1, 2025, reporting an EPS of -$0.08. Quarterly revenue was reported to be $0.88 million. Trump Media & Technology Group currently has a trailing EPS of -$0.59

DJT Latest Announcement

Via GlobalNewsWire: Trump Media and Technology Group Corp. (Nasdaq, NYSE Texas: DJT) (“Trump Media” or the “Company”), operator of the social media platform Truth Social, the streaming platform Truth+, and the FinTech brand Truth.Fi, is announcing financial results for the fiscal quarter ending on September 30, 2025, and is filing its Form 10-Q with the Securities and Exchange Commission (the “SEC”) today.

Trump Media is earning significant income from its unique bitcoin strategy. The Company generated $15.3 million of realized income during the third quarter from option premiums associated with its bitcoin related securities as well as $13.4 million of interest income from other financial holdings. This resulted in $61.1 million in combined realized income from both sources year to date through September 30, 2025.

Altogether, the Company posted $10.1 million of operating cash flow during the third quarter, resulting in its second consecutive quarter of positive operating cash flow as well as positive operating cash flow for the nine months ended September 30, 2025.

In the third quarter, Trump Media advanced its expansion plans across numerous sectors. Leveraging its brand, the Company formed a strategic partnership with Crypto.com to invest in Cronos (CRO), a high performance, interoperable blockchain designed for speed, scalability, and seamless connectivity between networks. Trump Media views CRO as a highly innovative asset that will gain widespread adoption as a versatile utility token and a superior medium for secure, instant payments and transfers, and the Company positioned itself as both an early adopter and investor in this unique token.

During the third quarter, Trump Media also substantially upgraded both its flagship products, Truth Social and Truth+. Thanks to the interoperability of the two apps, Trump Media has created a truly one-of-a-kind platform—a combined social media site and TV streaming service offering 24-hour livestreaming of top TV networks such as Real America’s Voice, Newsmax, One America News, Curiosity, Great American Family, and many others. All this is delivered to users via Trump Media’s ultra-fast, reliable, multi-site, proprietary content delivery network to defend against cancellation attempts by Big Tech. Moreover, this unique ecosphere will soon get another major upgrade with the addition of Truth Predict, making Truth Social the first social media platform to offer its users technology to access embedded prediction markets capabilities through an exclusive arrangement with Crypto.com | Derivatives North America (CDNA).

Aside from its $3.1 billion in financial assets, Trump Media reported a $54.8 million net loss in the third quarter, including $54.1 million in non-cash losses from changes in the fair value of digital assets, non-cash interest expenses, non-cash stock-based compensation, unrealized losses on trading securities and unexpired option contracts, and depreciation and amortization. The Company’s results continue to be affected by elevated legal expenses—$20.3 million in the third quarter—primarily related to the Company’s 2024 merger with a special purpose acquisition company (“SPAC”). One of the longest SPAC deals in history, the merger resulted in substantial legal costs, including those incurred for attempts to recoup costs for merger-related damages. The Company believes a positive resolution of these litigation matters, which it is working to achieve, could significantly impact its future financial results. Trump Media notched several significant legal victories during the third quarter, including the Delaware Court of Chancery’s dismissal of all eight claims—six with prejudice—brought by United Atlantic Ventures, LLC. Trump Media intends to hold accountable those who harmed the company to the fullest extent of the law.

DJT Quarterly Loss Widens

GlobalNewsWire was a fluff announcement. Let’s look at how Reuters describes the third-quarter results.

Please consider Trump Media’s Quarterly Loss Widens as Costs Soar

Trump Media & Technology Group (DJT), reported a bigger third-quarter loss and a decline in revenue on Friday, squeezed by a surge in expenses, highlighting the Truth Social parent’s steep financial hurdles. Shares of the company, a volatile favorite of retail investors, fell more than 3% in morning trading.

Trump Media, which has consistently posted losses since its inception, faces the challenge of converting the high-profile presence of President Donald Trump on its Truth Social platform into a viable revenue stream. The company’s revenue is primarily generated from advertising on the platform.

The company reported total revenue $972,900 for the third quarter ended September, down 3.8% from a year earlier.

In August, Trump Media and Crypto.com agreed to a deal with a blank-check acquisition company to launch a new venture that would pursue a treasury-style strategy to accumulate the cryptocurrency platform’s native token CRO, deepening Trump’s ties to the crypto industry. [Hooray! more coin speculation via a new blank-check acquisition company.]

Trump Media reported a net loss of $54.8 million, wider than the $19.2 million reported in the same period last year. It saw $20.3 million in legal expenses in the quarter.

Unlike most publicly traded social media companies, Trump Media does not regularly disclose key performance indicators such as monthly or daily active users. The company is led by CEO Devin Nunes, a former Republican congressman.

User Metrics Comparison

The above table from Google AI.

Key Point: Truth Social has ~1/100th the users of X and they are much less engaged.

Daily active users on Truth Social is ~355,000 vs ~131.9 million on X.

Daily Active Math: 355,000 / 131.9 million = 0.0026914329. That’s only ~0.27 percent, and much worse than active users.

Truth Social is failing on users. Is that why it announced more coin speculation?

Trump’s Ownership of DJT

Donald Trump owns 114,750,000 shares of DJT stock, which represents approximately 53% of the company’s outstanding shares, through a revocable trust. He transferred his entire stake to this trust, with his son, Donald Trump Jr., as the sole trustee who has sole voting and investment power. 

Donald Trump became legally eligible to sell his shares in Trump Media & Technology Group (DJT) in September 2024, after the expiration of a post-merger “lock-up” period. 

But Trump has not sold any of his shares. He could have easily unloaded some shares in October-November between $40 and $50.

Melania Meme Coin

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Melania Chart Courtesy of StockCharts.Com

As with DJT, the all-time his is in dispute. Google AI reports “The MELANIA all time high price was $13.05. MELANIA reached this all time high on January 20, 2025, which was 10 months ago.”

Coinbase says “The all-time high of Melania Meme is $5.44.”

I will accept the Coinbase answer. That means the decline from the top is 97.6 percent.

Meme Coins Year-to-Date

Digital “meme coins” named for Trump and first lady Melania Trump are down 86% and 99% since inauguration day, respectively, as noted by the Wall Street Journal.

Year-to-date they are down 78.2 percent and 96.5 percent, respectively. Both are fundamentally worthless. I suspect they will hit zero.

DJT trades at 1,240 times its annual revenues, according to FactSet.

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