Trump Media And Technology Group (DJT) Shares Rally Beyond Robinhood’s Overnight Order-Accepting Range
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Trump Media and Technology Group (NASDAQ: DJT) shares are currently the center of attention in the financial sphere. It is hardly a surprise, therefore, that Trump Media shares are currently rocketing in Robinhood's 24-hour trading venue, prompting the popular brokerage platform to slap a warning related to the acceptance of DJT orders.
Related Story Trump Media And Technology Group Enters Into Two Key Agreements To Bolster Its Liquidity By $2.5 Billion And Acquire Key Assets For Its Upcoming CDN
For the benefit of those who might not be aware, Robinhood's 24-hour trading venue, Blue Ocean ATS, only accepts orders within a 20 percent range relative to the reference price. At the time of writing, Trump Media and Technology Group shares are trading 21 percent above the reference price of $31.16, prompting Robinhood to peg a warning related to the rejection of orders.
As per a tabulation by ApeWisdom, Trump Media and Technology Group is by far the most popular stock right now on Reddit, commanding 472 distinct mentions and 2,239 upvotes in the past 24 hours. For comparison, NVIDIA - the uncontested momentum darling of the market right now - commanded just 157 mentions over the same period.
Moving away from the macro factors, back in May, the parent entity of Trump's Truth Social platform had noted that it was done with the research and development phase of its new live TV streaming platform and that it would begin to scale up its own Content Delivery Network (CDN). In the first phase, Trump Media plans to introduce live streaming to the iOS, Android, and web versions of the Truth Social platform. In the second phase, the company intends to launch a dedicated OTT streaming app for smartphones and tablets, and then release a version of the app for smart TVs in the third phase.
In early July, Trump Media and Technology Group entered
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