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What's Going On With Trump Media & Technology Group Stock On Monday?

Author: Anusuya Lahiri | July 08, 2024 07:33am

Trump Media & Technology Group Corp (NASDAQ:DJT) has sought to distance himself from influential right-wing policy experts offering a controversial blueprint for his potential second presidential term.

“I know nothing about Project 2025,” Trump stated on his Truth Social platform on Friday.

The former president and presumptive Republican nominee referred to a sweeping platform developed by the right-wing Heritage Foundation think tank, intended to provide a policy framework for a future Trump administration.

Also Read: Trump Media Acquires Perception Group’s CDN Technology, Secures $2.5B Equity Purchase Agreement for Future Expansion

Trump’s move is an effort to appeal to moderate voters by distancing himself from the more radical elements of his party ahead of the November election, the Financial Times reports.

Trump Media & Technology Group Corp (NASDAQ:DJT), where Trump is the majority shareholder, is trading higher on Monday.

Project 2025 proposes a dramatic overhaul of the federal government, including expanding executive branch powers and implementing aggressive, socially conservative policies.

These include cutting federal funding for abortions and reversing the Food and Drug Administration’s approval of abortion pills.

Several people involved in Project 2025 are prominent Trump allies and former White House officials.

On Friday, Donald Trump’s attorneys requested that the federal judge overseeing his classified documents case pause court proceedings to consider the Supreme Court’s recent presidential immunity ruling.

In February, Trump filed a motion to dismiss the indictment on the grounds of presidential immunity.

He contends that the decision to designate personal records under the Presidential Records Act and to move them from the White House to Mar-a-Lago was an official act, NBC News reports.

Last week, the Supreme Court ruled that presidents have immunity for official actions while in office.

Trump’s lawyers recently used the Supreme Court ruling to delay his sentencing on 34 felony counts of falsifying business records in New York.

Price Action: DJT shares were trading higher by 0.93% to $29.44 premarket at the last check Monday.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Photo via Shutterstock.

Posted In: DJT

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