We know that social media platform Truth Social (NASDAQ:DJT) has been on a wild ride lately, with the volatility seen in just the last three months alone on par with some companies’ volatility for a decade of trading. But Truth Social is up nearly 4% in today’s trading as the latest trial for primary shareholder and former President Donald Trump carries on, and the war against short-sellers seems to be having an impact.
Truth Social has been actively fighting against short-sellers for some time now, even offering lists of ways that shareholders could prevent their own shares from being “borrowed” for use in a short-selling strategy. Many must have taken that advice to heart because Truth Social shares have more than doubled since the campaign against short-selling kicked off.
While some believe that Truth Social’s calls for the prevention of short-selling have been overblown, there’s little denying that the active pursuit of their prevention has paid off, and in a big way.
Faltering Trials
Moreover, there are signs that the latest court case in New York—the Stormy Daniels “hush money” trial—is also faltering. Between issues with Trump Comptroller Jeffrey McConney’s testimony and Stormy Daniels’ own testimony that even Judge Merchan found objectionable, there are signs of trouble therein. That, in turn, could be lending some support to Truth Social as a whole. And that’s prompting some, like finance scholar Jay Ritter of the University of Florida, to declare simply, “Expect the unexpected.”
Is DJT Stock a Good Buy Right Now?
Turning to Wall Street, we remain free of analyst coverage on DJT stock, so instead, we turn to the last five days of trading. During this timeframe, DJT stock is up a healthy 7.79%. Though the volatility has been substantial—we’ve had at least two major slumps in the last five days—subsequent rallies have taken those declines off the table and put the stock back on an upward trajectory.
