Trump Media (NASDAQ: DJT) stock is posting big gains in Tuesday’s trading. The company’s share price was up 5.9% as of 2:30 p.m. ET and had been up as much as 14.1% earlier in the daily session.
Trump Media is getting a valuation boost following big news about its push into the financial products space. The company announced that it will be partnering with Crypto.com to launch exchange-traded funds (ETFs).
Last month, Trump Media announced the launch of Truth.Fi — its new finance brand focused on offering ETFs and other financial products. With the company’s announcement of its partnership with Crypto.com today, it’s become clear that these financial product launches are on the near horizon.
Trump Media and Crypto.com are teaming up to offer new ETFs built around cryptocurrencies and stocks with a “Made in America” focus. The first of these financial products are expected to launch this year and will be sold under the Truth.Fi brand on the Crypto.com platform. Investors seem to like the news.
The launch of Truth.Fi and push into the financial products industry could represent a dramatic change of course for Trump Media. The company’s business has mostly revolved around its social media platform Truth Social up to this point, but it looks like that may be changing. That could be a good thing.
With the platform sporting a relatively small user base and monetizing at weak levels, Truth Social has not been a big success so far. Despite weak performance for the platform, Trump Media has been able to sustain a highly growth-dependent valuation. It’s not clear whether the Truth.Fi unit will wind up being successful for the company, but it at least provides another potential growth driver.
Ever feel like you missed the boat in buying the most successful stocks? Then you’ll want to hear this.
On rare occasions, our expert team of analysts issues a “Double Down” stock recommendation for companies that they think are about to pop. If you’re worried you’ve already missed your chance to invest, now is the best time to buy before it’s too late. And the numbers speak for themselves:
-
Nvidia: if you invested $1,000 when we doubled down in 2009, you’d have $314,847!*
-
Apple: if you invested $1,000 when we doubled down in 2008, you’d have $41,848!*
-
Netflix: if you invested $1,000 when we doubled down in 2004, you’d have $524,186!*
Right now, we’re issuing “Double Down” alerts for three incredible companies, and there may not be another chance like this anytime soon.
