1 month ago
Trump Media and Technology Group (DJT), the genitor institution of the societal media level Truth Social, is readying a $400 cardinal stock buyback program.
President Donald Trump's media steadfast said that the repurchase would beryllium funded separately from and not change its bitcoin treasury strategy.
The buyback volition beryllium conducted done unfastened marketplace transactions, and the repurchased shares volition beryllium retired by the company, Trump Media announced connected Monday.
"Since Trump Media present has astir $3 cardinal connected its equilibrium sheet, we person the flexibility to instrumentality actions similar this which enactment beardown shareholder returns, arsenic we proceed exploring further strategical opportunities," CEO Devin Nunes said.
Trump Media precocious raised much than $2 billion from astir 50 organization investors to make a BTC treasury, for which Crypto.com and Anchorage Digital volition supply custody services.
DJT shares climbed implicit 3.8% to $18.50 successful aboriginal trading connected Monday pursuing the buyback announcement.
English (US) 