Trump Media & Technology Group Corp. (DJT) is seeing a slight uptick in its stock price today, following news that Linda McMahon, a longtime wrestling executive and nominee for Secretary of Education, was awarded nearly $195,000 in shares of the company. According to a recent SEC filing, McMahon received over 25,000 restricted stock units for her role on the board of directors. This development has sparked discussions about potential ethical concerns, given McMahon's nomination to a Cabinet position and her financial ties to a company closely associated with President Donald Trump.
Additionally, Trump Media's recent announcement of its expansion into financial services with the launch of Truth.Fi continues to generate interest. The new financial services and fintech unit plans to invest $250 million with Charles Schwab, focusing on investments that align with the "Patriot Economy." This strategic move is seen as a natural progression for the company, which already operates a social media platform and a TV streaming service.
The current price of DJT stock is $31.61, a marginal increase from the previous close of $31.60. Despite being early in the trading day, the volume remains low at 737,665 shares, representing just 2.84% of the average daily volume of 25,971,322 shares.