Trump Media to buy back $400M in stock as shares fall 46%, plans separate $2.5B Bitcoin reserve

Benzinga

Trump Media and Technology Group, operator of Truth Social, announced plans to repurchase up to $400 million of its own stock, aiming to boost financial flexibility amid a 46% share price decline this year. The repurchased shares will be retired and not reissued. Trump, the company’s largest shareholder with about 114 million shares, transferred his stake to a revocable trust after winning the 2024 election. Shares rose slightly Monday but remain far below their post-IPO peak in March. The company reported a $400.9 million loss in 2024, with annual revenue dropping 12% to $3.6 million. The buyback will be funded separately from a $2.5 billion Bitcoin reserve plan backed by institutional investors, mirroring strategies by firms like MicroStrategy.

Transcript

00:00It's Benzinga, bringing Wall Street to Main Street.

00:02Trump Media and Technology Group, operator of True Social,

00:05announced plans to repurchase up to $400 billion of its own stock,

00:08aiming to boost financial flexibility amid a 46% share price decline this year.

00:13Repurchase shares will be retired and not reissued.

00:16Trump, the company's largest shareholder with about 114 million shares,

00:20transferred a state to our evocable trust after winning the 2024 election.

00:23Shares rose slightly Monday but remained far below their post-IPO peak in March.

00:28The company reported a $400.9 million loss in 2024,

00:32with annual revenue dropping 12% to $3.6 million.

00:35Buyback will be funded separately from a $2.5 billion Bitcoin reserve plan

00:39backed by institutional investors, mirroring strategies by firms like MicroStrategy.

00:43For all things money, visit Benzinga.com.

Category

Transcript

Recommended