Shares of Trump Media & Technology Group (NASDAQ: DJT), the parent company of Truth Social, dropped to an all-time low of $6.96 on Friday, extending a brutal stretch for the stock.
The decline marks a fall of more than 92% from the company’s previous highs, with DJT now on track to record its worst monthly performance of the year.
Peter Schiff, CEO and Chief Global Strategist of Euro Pacific Capital, took to X to comment on the sharp move downward, calling it a cautionary example for investors.
“$DJT is down another 6% today, hitting a new all-time low. It’s down 60% in the past year,” Schiff wrote, adding that the drop “provides yet another example of the dangers of jumping on bandwagons to buy overpriced assets, and is a harbinger of what’s to come!”
The stock has now shed more than 46% of its value so far this year, as mounting operational losses and failed strategic pivots continue to weigh heavily on investor confidence.
The company reported a $405.9 million loss in the first quarter of 2026, with a significant portion attributable to unrealized declines in cryptocurrency, digital asset, and equity investments.
Despite the headline loss, DJT generated $17.9 million in operating cash flow during the quarter, representing its fourth consecutive quarter of positive operating cash flow.
The company has also been moving aggressively on strategic initiatives, announcing a $6 billion all-stock merger with TAE Technologies that is expected to close in the fourth quarter of 2026 or earlier, though plans to spin off Truth Social into a separate publicly traded company have since been abandoned.
In a bid to shore up shareholder confidence, the board authorized a share repurchase program of up to $400 million, allowing the company to buy back common stock and warrants through open-market transactions.
CEO and Chairman Devin Nunes defended the move, stating, “The Board took a vote of confidence in our Company, our stock, and our strategic plans. Since Trump Media now has approximately $3 billion on its balance sheet, we have the flexibility to take actions like this which support strong shareholder returns, as we continue exploring further strategic opportunities.”
The buyback announcement drew skepticism from prominent short-seller Jim Chanos, founder of Kynikos Associates, who wrote on X that “It’s getting sillier by the day.”
The company also launched a digital token program granting shareholders one non-transferable token per share held as of February 2, offering access to platform perks and exclusive events.
On Stocktwits, retail sentiment around DJT remained in neutral territory over the past 24 hours, with one bearish user commenting, “Ride that slide down below $5….Easy money….”
