Why Trump Media Stock Is Gaining Today
Trump Media & Technology Group Corp. (NASDAQ:DJT) saw its shares rise in premarket trading on Tuesday after announcing a definitive agreement with Yorkville Acquisition Corp. (NASDAQ:YORK) and Crypto.com to form a joint venture.
The new entity, Trump Media Group CRO Strategy, will manage one of the largest digital asset treasuries, focused on the Cronos ecosystem’s native token, CRO.
According to Benzinga Pro, DJT stock has lost over 20% in the past year. Investors can gain exposure to the stock via First Trust SkyBridge Crypto Industry and Digital Economy ETF (NYSE:CRPT).
Also Read: Trump-Backed American Bitcoin Eyes Japanese, Hong Kong Firms For Crypto Acquisition: Report
The latest deal will make Yorkville, Trump Media, and Crypto.com founding shareholders of the new firm, which intends to accumulate billions of dollars in CRO alongside significant cash commitments and credit facilities.
At closing, the partners expect the new company to be …
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