Trump Media & Technology Group DJT, the company that owns the social media platform Truth Social, recently announced that it has become a part of the Russell Indexes during its annual reconstitution. This move, as reported by Reuters, is expected to increase the company’s visibility and potentially attract more investment from index funds.
The inclusion of Trump Media & Technology Group in the Russell Indexes, particularly the Russell 1000 which includes some of the largest U.S. companies, can improve liquidity and draw the attention of institutional investors. This development highlights the significance of being a part of these indexes for the company’s growth and market presence.
In another legal development, the Supreme Court ruled that former President Donald Trump and other past presidents have immunity for actions taken within their Constitutional authority while in office. However, they can be held accountable for actions taken outside of their official capacity. This ruling had a positive impact on Trump Media stock, where Trump holds a majority stake.
Over the past year, Trump Media & Technology Group’s stock has seen a significant surge of 162%. Analysts often compare the company’s stock performance to meme stocks like GameStop Corp GME, showcasing its growth potential and market interest.
At the last check on Tuesday, DJT shares were trading higher by 0.48% at $33.24 premarket. This news and data are provided by Benzinga APIs, highlighting the latest developments in the market. Benzinga does not offer investment advice, and all rights are reserved.