SARASOTA, Fla. - Trump Media & Technology Group Corp. (NASDAQ: DJT), also known as TMTG, announced Monday the selection of Semple, Marchal & Cooper, LLP as its new independent registered public accounting firm. The decision, effective as of last Thursday, followed a thorough evaluation and received approval from the company's Audit Committee.
In conjunction with this appointment, TMTG indicated plans to request an extension for submitting its upcoming 10-Q report. The company expects to file a Form 12b-25 to extend the deadline by at most one business day after the original due date.
TMTG, known for operating Truth Social, a social media platform, positions itself as a challenger to what it describes as "Big Tech's assault on free speech." The platform was created to offer a "safe harbor for free expression" in response to heightened censorship from major technology firms.
The press release issued by TMTG also contained forward-looking statements regarding the company's future plans. These statements are based on current expectations and projections about future events. However, TMTG acknowledges that such forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, and assumptions that could cause actual results to differ materially from those anticipated.
The company's Annual Report on Form 10-K for the fiscal year ended December 31, 2023, includes a section on "Risk Factors" that outlines potential risks that could negatively impact TMTG's business, financial condition, or operating results. It also notes that new risk factors can emerge and that the impact of these factors may not be fully predictable.
InvestingPro Insights
As Trump Media & Technology Group Corp. (NASDAQ: DJT) navigates through its recent developments, including the appointment of a new accounting firm and the filing of an extension for its 10-Q report, investors are closely monitoring its performance metrics. According to InvestingPro data, TMTG has experienced a mixed bag of returns over various time frames. Notably, the company's one-week price total return as of day 127 of 2024 stands at 1.1%, reflecting a recent uptick in investor confidence. However, looking at a broader horizon, the year-to-date price total return shows a decline of -3.26%, suggesting some volatility in the company's share price since the beginning of the year.
With an average daily volume over the past three months reaching 108.02 million, there is significant trading activity surrounding TMTG's stock. This level of liquidity can be a double-edged sword, providing opportunities for investors to enter or exit positions but also potentially leading to greater price swings. The previous close price of $15,348.40 provides a reference point for investors tracking the company's day-to-day valuation changes.
For those interested in gaining deeper insights into TMTG's performance and strategic positioning, InvestingPro offers additional analysis and metrics. One of the InvestingPro Tips highlights the importance of considering both short-term and long-term performance trends when evaluating a company's stock, especially in the context of recent corporate announcements and market reactions. Another tip suggests looking at volume trends in conjunction with price movements to gauge investor sentiment and market liquidity.
Investors seeking a comprehensive understanding of TMTG's financial health and market position can explore more tips on InvestingPro. Currently, there are additional tips available, offering a wealth of knowledge for making informed investment decisions. Use the exclusive coupon code PRONEWS24 to receive an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking a suite of advanced tools and analytics.
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