New York, May 23, 2026, 15:04 EDT
- DJT closed Friday at $7.95, down about 8.3% for the week. The stock lagged even as the broader U.S. market gained.
- The company said its $205 million bitcoin move was just a transfer, not a sale.
- U.S. stock trading is closed for the weekend and stays shut Monday for Memorial Day.
Trump Media & Technology Group Corp. closed out the week trading close to its lowest point in a year. A new bitcoin transfer has fueled questions about the Truth Social owner’s approach to crypto as markets head into the extended U.S. holiday weekend.
Market action is on hold for the long weekend. U.S. equities are closed Saturday and Sunday as usual, and Nasdaq says trading will also be shut Monday, May 25, for Memorial Day. Investors won’t get to react to fresh filings, bitcoin swings or news from companies until Tuesday.
DJT finished Friday at $7.95, trading between $7.90 and $8.15 for the day. About 2.76 million shares changed hands, market data showed. The stock is off roughly 8.3% from its May 15 close at $8.67. DJT’s 52-week range stayed at $7.86 to $27.00.
DJT fell even as the tape was strong. The S&P 500 climbed 0.4% on Friday for its eighth consecutive weekly win. The Nasdaq Composite was up 0.2%, Associated Press market data showed. DJT’s drop didn’t match the index moves and had more of a single-name selloff feel.
Bitcoin was the main concern. Trump Media moved 2,650 bitcoin, about $205 million, to Crypto.com, CoinDesk reported Friday. A Trump Media spokesperson said the company “transferred, but did not sell” the coins. CoinDesk said Trump Media is down about $455 million after buying 11,542 bitcoin at an average $118,522 price. CoinDesk
Truth Social Bitcoin ETF, B.T. pulled its registration for a bitcoin ETF a few days ago. The firm asked the SEC to withdraw its Form S-1 statement. In the May 19 filing, B.T. said it was not going ahead with a public offering right now, and no securities had been sold. ETFs trade on exchanges like stocks and are pooled funds.
ETF analysts aren’t buying the idea that structure explains the pullback. Nate Geraci, NovaDius Wealth Management president, told CoinDesk the first Truth Social ETFs saw a “lukewarm reception.” Bloomberg Intelligence’s James Seyffart cited the “competitive landscape.” Eric Balchunas, also of Bloomberg Intelligence, warned fee pressure could turn off investors: “No one will buy it.” A basis point is one one-hundredth of a percentage point. Spot bitcoin ETF fees have gone as low as 14 basis points, analysts said. CoinDesk
Trump Media’s first quarter showed a net loss of $405.9 million on $0.9 million in revenue. Of the losses, $368.7 million came from unrealized losses—paper losses from assets that dropped in value but weren’t sold. The company said it held $2.1 billion in financial assets and had $17.9 million in cash from operating activities.
Trump Media’s interim CEO Kevin McGurn said in the release the company is relying on its “strong balance sheet” and positive cash flow to continue growing, and is also working toward a planned merger with TAE Technologies. Bulls have more to watch than just social media ad growth. But last week, traders were looking harder at bitcoin-related marks and liquidity.
Crypto stocks slid on Friday. Coinbase dropped roughly 4.4%, Robinhood was off about 3.0%, and Strategy—the company that used to be called MicroStrategy and is a big corporate bitcoin holder—also lost about 3.0%, market data showed. The moves put DJT in step with the sector, but Trump Media’s slide after its ETF withdrawal left its case more specific to its own news.
Trump Media’s stock moves this week will probably depend on bitcoin’s price and whether the company explains why coins ended up at Crypto.com. If bitcoin bounces, or if Trump Media makes it clear the transfer was just operational, shares might hold up. But more crypto losses, or proof of a sale at lower prices, could fuel worries the company’s balance sheet matters more to the stock than its main businesses.
Trump Media (DJT) heads into Tuesday’s session with the stock moving against the market. The market is up, but DJT isn’t following.
