Truth Social (NASDAQ:DJT) has been making headlines recently with some interesting developments. The social media platform saw a surge in website traffic, with a 55% increase in March, reaching 7.74 million visitors compared to around five million in February. However, there was a slight decline in April to 6.5 million visitors, still up 30% from February.
Institutional investors like Hudson Bay Capital Management, Morgan Stanley, and Geode Capital Management have taken positions in Truth Social, with significant share purchases. Despite the stock’s volatility, there is potential for growth, especially with a campaign against short-sellers gaining traction.
As for the stock itself, analysts have yet to weigh in, but recent trading activity has been relatively stable, with only a 0.9% decrease in DJT shares over the last five days. The stock has seen some drops followed by quick recoveries, indicating a mixed sentiment among investors.
Overall, Truth Social’s recent developments and potential for growth make it an interesting stock to watch, especially with the support of institutional investors and a growing user base.