Trading in Trump Media & Technology Group (DJT) was halted in New York on October 15 due to extreme volatility and price fluctuations.

The company behind the Truth Social platform modeled on

The share price continued to fall after trading resumed, falling 10% after rising more than 13% earlier in the day. The exact reason for the large price increase is not known. However, there was extremely high turnover in the trading session on October 15th: more than 76 million shares changed hands.

Treated like a meme stock

Analysts and traders tend to view Trump Media as a meme stock. No Wall Street analyst is currently covering DJT stock, whose ticker symbol is the initials of former U.S. President Donald J. Trump, the company's largest shareholder. Trump Media has reported abysmal financial results since going public and has seen executive departures in recent months, leading to speculation that the company could file for bankruptcy.

Trump Media shares, which went public in the spring via a SPAC (Special Purpose Acquisition Company) deal, are vulnerable to large price movements. Over the past month, the share price was up nearly 60%, including a 30% rise in the last five trading sessions. However, the stock is currently 65% ​​below its 52-week high, which was reached in late March, shortly after its stock market debut.

Is DJT Stock a Buy?

As mentioned, there are no analysts covering Trump Media stock. However, as the chart below shows, the company's stock price collapsed suddenly and without warning, leading to panic selling among investors and a trading halt on the Nasdaq stock exchange.