Trump Media & Technology Group Corp. (DJT) saw a modest increase in its stock price on January 31, 2025, closing at $31.86, up 0.82% from the previous day's close of $31.60. The stock opened at $31.64 and reached a high of $31.99, with trading volume significantly below average at 4,639,304 shares, just 17.86% of the daily average. The uptick in DJT's stock price was primarily driven by recent news of stock awards to key figures associated with the company. Linda McMahon, a nominee for Secretary of Education, and Kash Patel, the nominee for FBI director, were each awarded over 25,000 restricted stock units, valued at nearly $195,000, as part of their roles on the board of directors. This development has sparked discussions about potential conflicts of interest, given their nominations to significant government positions.
Additionally, Trump Media's announcement of its expansion into financial services with the launch of Truth.Fi has continued to generate interest. The new unit plans to invest $250 million with Charles Schwab, focusing on investments aligned 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.