Trump Media and Technology Group has announced a $400 million stock buyback, signaling market confidence.
CEO Devin Nunes emphasized that the board's decision reflects strong belief in the company's future and its strategic plans. With approximately $3 billion on its balance sheet, Trump Media has the flexibility for strategic moves such as share repurchases.
The company clarified that this buyback will not affect its previously announced Bitcoin accumulation strategy, funded by a $2.3 billion private placement. Trump Media had earlier received SEC approval to initiate Bitcoin purchases. Meanwhile, the Trump family's crypto initiatives extend beyond Trump Media, including mining-based Bitcoin projects and significant altcoin investments.
Shares of Trump Media (DJT) had declined by around 30% last month following the announcement of the Bitcoin treasury strategy.
