Shares of Trump Media & Technology Group tumbled to new 52-week lows this week as the company behind President Donald Trump’s Truth Social is considering a contentious plan to separate the social network into its own publicly traded company.
The stock, traded as DJT—using President Trump’s initials—edged up less than 1% to $11.02 in early trading on Friday, February 27, 2026, after Trump Media announced it was reviewing the spinoff. Shares then slipped more than 2% during a volatile session that day, highlighting investor uncertainty about the company’s swiftly changing strategy.
The suggested spinoff represents another major shift for Trump Media & Technology Group, which began in 2021 focused on a conservative-leaning social network. Truth Social could be carved out as a separate public company after Trump Media completes its $6 billion all-stock merger with fusion energy firm TAE Technologies, according to a company press release.
Under the proposal, shares of the spun-off Truth Social would be distributed to Trump Media shareholders of record before the TAE merger closes. The independent Truth Social entity would then combine with blank-check firm Texas Ventures Acquisition III Corp., a SPAC that raised $225 million in its April 2025 IPO.
Trump Media emphasized it is only evaluating a possible spinoff of Truth Social, saying the companies are “engaged in ongoing discussions” about the idea. No decision date or timeline was provided.
The current share price remains far below its highs—DJT reached a record closing price of $97.54 in March 2022, before the DWAC merger took it public. The extended decline has quickened during Trump’s second term despite his frequent promotion of the platform and his pledge not to sell his majority stake after the 2024 election win.
According to Trump Media’s latest proxy filing, President Trump controls roughly 52% of the company’s outstanding shares through the Donald J. Trump Revocable Trust. In December 2024, regulatory filings indicated he moved about 115 million shares into that trust, with Donald Trump Jr. listed as the sole trustee.
The spinoff would draw more public-market focus to Truth Social, where President Trump has often announced everything from military actions to tariff moves. He has also used the site to preview federal economic data prior to official releases, reinforcing Truth Social’s role as a presidential communication channel.
Trump Media created Truth Social after the then-former president was banned from Twitter and Facebook following the January 6, 2021, Capitol attack. The company frames its mission as pushing back against what it calls “Big Tech’s assault on free speech.”
Despite Trump’s 11.8 million followers on Truth Social, advertisers have largely stayed away. Trump Media reported total revenue of only $972,900 for the quarter ended September 30, 2025—a roughly 3% decline from the same quarter in 2024. CEO Devin Nunes noted the company’s shift, saying it had “secured our financial future with a massive bitcoin treasury.”
The spinoff would be another major change for a company that has continually altered its business model over the past year. Beyond social media, the company has pushed into financial services with Truth.Fi investment funds and bought about $2 billion in bitcoin, creating one of the largest crypto treasuries among public firms.
Trump Media shifted direction again in December 2025 when it announced a planned merger with TAE Technologies, a fusion energy company founded in 1998 that has raised more than $1.3 billion from backers including Google, Goldman Sachs, and Chevron. The combined entity aims to “site and begin construction on the world’s first utility-scale fusion power plant” in 2026, targeting the heavy energy needs of AI data centers. The merger is expected to close in mid-2026.
The proposed Truth Social spinoff would take place after the TAE merger closes, per the company. Existing shareholders would receive shares in the separated Truth Social business, which would then seek a merger with Texas Ventures III.
Trump Media shares have fallen about 18% since the start of 2026, continuing a long decline that has erased most of the stock’s value from its highs. The drop has occurred even as President Trump encourages supporters to buy and hold the shares through volatile trading.
The company reported a full-year 2025 net loss of $712.3 million, largely due to unrealized losses on its digital assets as bitcoin prices fell. Still, Trump Media ended 2025 with roughly $2.5 billion in financial assets—up from $776.8 million at the end of 2024—underscoring its shift from a social media firm to what some analysts dub “a bitcoin treasury with a brand.”