Why the latest Truth Social data feed move matters for Trump Media & Technology Group

Trump Media & Technology Group (DJT) is in focus after interim CEO Kevin McGurn defended a new paid data feed on Truth Social’s API. The feed offers early access to posts for a substantial subscription fee.

The product has drawn criticism from those who argue that giving paying clients faster access to Truth Social content could help algorithmic trading firms gain an edge. Democratic Senators have asked the SEC to examine the arrangement, although the regulator had not announced any investigation as of late August 2026.

Despite the latest Truth Social data feed move grabbing headlines, Trump Media & Technology Group’s share price has been under pressure over a longer stretch, with the share price return down 31.01% year to date and the 1 year total shareholder return down 46.99%. Recent trading has been more positive, with a 13.77% 7 day share price return and a 6.74% 90 day share price return off a US$9.50 close. This suggests momentum has been picking up as investors reassess both growth potential and the risks flagged by the new data product and regulatory scrutiny.

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Trump Media & Technology Group now trades at US$9.50 while intrinsic value estimates point to a different level. After the recent bounce, is the current price at a discount or a premium to where fair value ranges cluster?

Preferred Price-to-Book Multiple for Trump Media & Technology Group: Is it justified?

On a headline basis, Trump Media & Technology Group looks cheaper than some peers, with a P/B ratio of 2.6x compared to a peer average of 3.6x, yet it also appears more expensive than the broader US Interactive Media and Services industry, which sits at 1.1x. The share price of $9.50 is therefore aligned with a valuation debate that is less about absolute level and more about which comparison group an investor prioritises.

The P/B ratio compares the market value of Trump Media & Technology Group to its accounting book value, which can be a useful anchor for companies that do not yet have meaningful earnings. With reported revenue of $4.5m and a net loss of $1.3b, earnings based measures such as P/E are not helpful here, so investors often default to balance sheet based signals like P/B. That makes the 2.6x figure an important shorthand for how much of a premium the market is currently assigning to the company’s assets.

Relative to a peer group P/B average of 3.6x, DJT screens as good value on this metric, which suggests investors are paying a lower multiple of book value than for similar companies. However, when compared to the wider Interactive Media and Services industry average of 1.1x, the same 2.6x multiple looks expensive, which points to a sizeable valuation premium versus the broader sector. With no fair ratio available, there is no clear regression based anchor that indicates where this multiple could converge, so investors are left weighing niche peer comparables against industry wide benchmarks.

Result: Price-to-book of 2.6x (ABOUT RIGHT)

However, Trump Media & Technology Group still faces risks from ongoing regulatory attention and the scale of losses, with net income at a reported loss of $1.3b.

Another view on Trump Media & Technology Group's valuation

The book value debate around Trump Media & Technology Group gets a sharp counterpoint from our DCF model. While the P/B of 2.6x can look about right against peers, the SWS DCF model estimates future cash flow value at $1.41 per share, which is far below the current $9.50 price. That points to a very different risk and reward profile for investors to weigh.

Simply Wall St performs a discounted cash flow (DCF) on every stock in the world every day (check out Trump Media & Technology Group for example). We show the entire calculation in full. You can track the result in your watchlist or portfolio and be alerted when this changes, or use our stock screener to discover 51 high quality undervalued stocks. If you save a screener we even alert you when new companies match - so you never miss a potential opportunity.

Next Steps

If the picture around Trump Media & Technology Group still feels mixed, move quickly and review the figures, disclosures and 2 important warning signs

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.