Trump Media shares ride post-election, potential crypto acquisition wave 

The market is, presumably, confused about what a Trump win means for the social media company

article-image

Anna Moneymaker/Shutterstock modified by Blockworks

share


This is a segment from the Forward Guidance newsletter. To read full editions, subscribe.


Shares of Donald Trump’s social media company, Trump Media & Technology, continued to fluctuate Tuesday following a rally spurred by reports that the president-elect is furthering his crypto business interests. 

The Financial Times reported Tuesday that Trump Media is in “advanced talks” to acquire crypto exchange Bakkt — a company founded and owned by New York Stock Exchange parent company Intercontinental Exchange (ICE).

The news pushed Bakkt shares 162% higher Monday and Trump Media (ticker DJT) posted a 17% gain. Bakkt sustained its rally into Tuesday (trading 7% higher midway through the session), while DJT lost more than 8%. 

The social media company began trading on the Nasdaq last spring after a merger with Digital World Acquisition Corp. Currently hovering around $30, DTJ shares are up almost 150% from their September low, but are still trading about 40% off of their IPO price of $50. 

Trump Media’s recent gains have not been linear, though. Shares rose 65% at the end of October, a rally attributed to increased optimism at the time that Trump would win the election. The share price since Trump’s victory however has been flat, posting a modest increase the day after the election before erasing gains. 

The market is, presumably, confused about what a Trump win means for the social media company. Yesterday’s rise shows that investors are decently certain that acquiring Bakkt would be a good move. But the subsequent retreat shows shareholders aren’t exactly sure why

We’ll be following the acquisition story and will be writing a lot more about what it means when the majority shareholder of a public company moves into the White House. Stay tuned.


Start your day with top crypto insights from David Canellis and Katherine Ross. Subscribe to the Empire newsletter.

Explore the growing intersection between crypto, macroeconomics, policy and finance with Ben Strack, Casey Wagner and Felix Jauvin. Subscribe to the Forward Guidance newsletter.

Get alpha directly in your inbox with the 0xResearch newsletter — market highlights, charts, degen trade ideas, governance updates, and more.

The Lightspeed newsletter is all things Solana, in your inbox, every day. Subscribe to daily Solana news from Jack Kubinec and Jeff Albus.

Tags

Upcoming Events

Javits Center North | 445 11th Ave

Tues - Thurs, March 18 - 20, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

recent research

Unlocked Advisory-min.png

Research

This report distills Blockworks Advisory’s research on incentive programs and their analysis, offering a foundation for designing future initiatives and advancing industry-wide standards. By highlighting key lessons and methodologies, we aim to empower protocols to make informed, data-driven decisions.

article-image

Will investors take a 10% lower return to get access to a regulated investment wrapper?

article-image

Brian Armstrong called out the hire of Gurbir Grewal, who had been the SEC’s enforcement division director since 2021

article-image

Certain senators will be interested to learn about Atkins’s private sector business interests, specifically those related to crypto

article-image

Innovative smart debt and collateral features are fueling Fluid’s rise to $1.2 billion TVL, reshaping the Instadapp brand

article-image

Crypto’s liquidity engine is now worth over $300 billion

article-image

Bitcoin Jesus is arguing that the Department of Justice’s tax fraud charges are “unconstitutional”