DJT Stock Rises. It’s a Good Time to Consider Trump Media’s Nuclear Fusion.

Trump Media shares have swung wildly in recent days, following a splashy nuclear-fusion deal. (Chip Somodevilla/Getty Images)

Key Points

• Trump Media & Technology stock closed down 1.8% to $14.15 on Tuesday, following a 10% drop on Monday.
• The stock previously surged over 50% last week after announcing a merger with nuclear fusion company TAE Technologies.
• Shares of DJT have decreased 58% this year, attributed to the company’s investment in Bitcoin.

Trump Media & Technology stock was up a touch on Tuesday, likely a relief to investors, who would welcome a period of calm following the shares’ recent moves.

Shares in the Truth Social parent, which trade under the ticker DJT in reference to President Donald Trump’s initials, closed down 1.8% to $14.15 on Tuesday. The stock dropped 10% on Monday after surging more than 50% last week after Trump Media announced a merger with nuclear fusion company TAE Technologies.

Created with Highcharts 9.0.1Trump MediaSource: FactSetAs of Dec. 26, 4 p.m. ET

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That sort of volatility is par for the course with DJT. Shares have swung wildly since Trump Media went public via a blank-check merger in March 2024, even though Truth Social remains a minor player in the crowded social-media industry. The stock is down 58% this year, due to the company’s big bet on Bitcoin going sour.

There’s also plenty of uncertainty about the future of nuclear fusion. Barron’s argued last week that the most likely outcome from the TAE merger is that timelines for fusion technology get stretched out, costs rise, profits prove elusive, and capital gets harder to raise. Don’t expect the stock to hold on to its recent gains in that sort of scenario.

What DJT does offer, particularly when volumes are thin in the run up to the holiday season, is a source of volatility. That means traders could carry on piling into and then dumping the stock over the next few weeks, in a bid to make some quick money before the end of 2025.

A pause, like the one today. is a good time to stand back and consider just what the end game is for a DJT trade.

Write to George Glover at george.glover@dowjones.com