Trump Media & Technology Group (TMTG), the parent company of Truth Social, Truth+, and the financial platform Truth.Fi, announced Monday that its board has authorised a stock repurchase program of up to $400 million.
Following the announcement, shares of TMTG, trading under the ticker symbol DJT on both the Nasdaq and NYSE Texas exchanges, rose around 3% in premarket trading.
The Florida-based media and tech firm said the buyback initiative may involve acquiring both common shares and warrants through open market transactions. All repurchased securities will be permanently retired, signaling confidence in the company’s long-term value. “With approximately $3 billion now on our balance sheet, Trump Media has the flexibility to take bold steps to create shareholder value while exploring additional strategic opportunities,” said CEO Devin Nunes in a statement.
The announcement comes just weeks after the company raised $2.5 billion from institutional investors in one of the largest bitcoin-focused fundraising efforts by a public company. The capital injection included $1.5 billion in equity and $1 billion in convertible notes. TMTG plans to use a significant portion of the funds to acquire bitcoin, which Nunes described as the company’s “crown jewel.” Anchorage Digital and Crypto.com will provide custody services for the digital assets.
The bitcoin acquisition is part of a broader push to protect the company from what Nunes characterised as financial discrimination against conservative businesses. The funds will also support the upcoming launch of Trump-branded exchange-traded funds (ETFs) and other cryptocurrency-related products, pending regulatory clearance.
Despite its high-profile initiatives, TMTG reported a net loss of $400.9 million for the full year, with just $3.6 million in revenue. Earlier this year, the company filed an initial registration statement with the U.S. Securities and Exchange Commission (SEC) for its proposed Truth Social Bitcoin and Ethereum ETF. According to the company’s statement, the ETF would allocate 75% of its assets to Bitcoin and 25% to Ethereum. If approved, shares of the ETF would be listed on NYSE Arca. The filing marks another step in Trump Media’s broader move into digital assets and financial services.