Trump Media announces $400m stock repurchase program
Trump Media & Technology Group (the folks behind Truth Social and more) just announced a massive $400 million stock buyback.
They're hoping this move boosts confidence in the company and keeps shareholders happy.
Basically, they'll be snapping up shares from the open market and retiring them, which usually means fewer shares out there—and potentially more value for those who stick around.
TMTG has $3 billion on hand
TMTG isn't short on cash—they've got about $3 billion on hand. That's enough to fund this buyback without messing with their huge bitcoin stash (which CEO Devin Nunes calls their "crown jewel").
Earlier this year, they raised $2.5 billion mostly to invest in bitcoin, with Anchorage Digital and Crypto.com keeping those assets safe.
TMTG lost over $400 million last year
Even though TMTG lost over $400 million last year (while making just $3.6 million), they're betting that their strong cash position and crypto moves will pay off for investors.
They're also looking beyond social media: one of their next big ideas is a Bitcoin-Ethereum ETF—just waiting for regulators to give the green light.