Trump Media stock has traded far above its fundamental valuations because of President Donald Trump’s involvement as the majority shareholder. Its status as one of the high-priced "meme" stocks means many investors have willingly bought and held DJT shares at higher prices.

Trump Media and Technology Group (DJT) surged in early trading on Monday, June 23 following the announcement of a $400 million share repurchase authorization, though shares closed roughly flat. The operator of Truth Social,

Trump Media, the parent of President Donald Trump’s social-media platform Truth Social, announced a $400 million stock-repurchase program, which could reduce the number of shares outstanding by 10%.