Explainer: Where are Wall Street's analyst notes on Trump's Truth Social?
NEW YORK, April 25 (Reuters) - Trump Media & Technology Group (DJT.O), opens new tab is one of the most actively traded U.S. stocks, yet Wall Street's equity analysts are staying clear.Shares of the company that operates former U.S. President Donald Trump's social media app Truth Social listed on Nasdaq on March 26. An army of Trump supporters and speculators have snapped up the stock, giving it a market value of about $4.9 billion.
Yet there are still no widely distributed analyst notes from brokerages for it, unlike social media peers with smaller valuations that are covered by several brokerages, including Nextdoor (KIND.N), opens new tab, Bumble (BMBL.O), opens new tab and Grindr (GRND.N), opens new tab.
Here is what happening with the lack of analyst coverage of TMTG and the reasons behind it.