Shares of Trump Media & Technology Group fell to new 52-week lows this week as the owner of President Donald Trump’s Truth Social considers a contentious plan to spin the social network off into its own publicly traded company.
The stock, listed as DJT—using the president’s initials—climbed under 1% to $11.02 in early trading on Friday, February 27, 2026, after Trump Media announced it was examining the spinoff. Later that session the shares dropped more than 2% amid a volatile trading day, underscoring investor uncertainty about the company’s quickly changing strategy.
The potential spinoff is another significant shift for Trump Media & Technology Group, which launched in 2021 focused on conservative-leaning social media. Truth Social could be spun out as an independent public company after Trump Media completes its $6 billion all-stock merger with fusion energy firm TAE Technologies, according to a press release.
If carried out, shares of the spun-off Truth Social would be distributed to Trump Media shareholders of record before the TAE merger closes. The standalone Truth Social would then merge with blank-check company Texas Ventures Acquisition III Corp., a SPAC that raised $225 million in its April 2025 IPO.
Trump Media stressed it is only evaluating a possible spinoff, saying the parties are “engaged in ongoing discussions.” The company gave no date or timetable for a final decision.
The stock remains far below its highs—DJT reached a closing peak of $97.54 in March 2022 before the DWAC merger brought it public. The extended decline has accelerated during Trump’s second term despite his active promotion of the platform and his pledge not to sell his majority stake after the 2024 election.
According to the company’s most recent proxy filing, President Trump controls about 52% of outstanding shares through the Donald J. Trump Revocable Trust. In December 2024, regulatory filings showed he moved roughly 115 million shares into that trust, with Donald Trump Jr. listed as sole trustee.
The spinoff would increase public scrutiny of Truth Social, the platform where Trump has posted everything from military announcements to tariff news. He has also previewed federal economic data there ahead of official releases, reinforcing the site’s role as a presidential communications channel.
Trump Media launched Truth Social after the then-former president was banned from Twitter and Facebook following the January 6, 2021, Capitol attack. The company frames its mission as pushing back against what it calls “Big Tech’s assault on free speech.”
Even with 11.8 million followers on Truth Social, the platform has struggled to attract advertisers. For the quarter ended September 30, 2025, Trump Media reported total revenue of just $972,900—a decline of about 3% from the same quarter in 2024. CEO Devin Nunes said the company has “secured our financial future with a massive bitcoin treasury.”
The spinoff would be another major change for a company that has repeatedly shifted its business model over the past year. Beyond social media, the company has moved into financial services with Truth.Fi investment funds and purchased roughly $2 billion in bitcoin, creating one of the largest cryptocurrency treasuries among public firms.
Trump Media changed course again in December 2025 when it disclosed plans to merge with TAE Technologies, a fusion energy company founded in 1998 that has raised over $1.3 billion from investors including Google, Goldman Sachs, and Chevron. The combined firm aims to “site and begin construction on the world’s first utility-scale fusion power plant” in 2026 to meet the large energy needs of AI data centers. The merger is expected to close in mid-2026.
According to the company, the Truth Social spinoff would happen after the TAE merger closes. Current shareholders would receive shares in the separated Truth Social business, which would then pursue its own merger with Texas Ventures III.
Trump Media shares have fallen about 18% since the start of 2026, continuing a long slide that has erased much of the stock’s gains from its peak. The decline has persisted despite Trump encouraging supporters to back the stock through volatile trading.
The company reported a 2025 net loss of $712.3 million, largely due to unrealized losses on digital assets as bitcoin fell. Still, Trump Media ended 2025 with roughly $2.5 billion in financial assets—up from $776.8 million at the end of 2024—highlighting its shift from a social media company to what some analysts call “a bitcoin treasury with a brand.”
