Trump Media & Technology Group (NASDAQ:DJT), which owns social media platform Truth Social, announced on Monday that it has joined the Russell Indexes as part of its annual reconstitution.
Reuters reports that Trump Media & Technology Group's inclusion in these indexes is significant as it increases the company's visibility and may lead to more substantial investment from index funds.
Being part of the Russell Indexes, especially the Russell 1000, which consists of the largest U.S. companies, can enhance liquidity and attract institutional investors.
The Supreme Court ruled on Monday that former President Donald Trump and other past presidents have immunity for actions within their Constitutional authority while in office but not for unofficial acts.
The ruling boosted Trump Media stock, where Trump is a majority shareholder.
Trump Media & Technology Group stock surged by 162% in the last 12 months. Experts frequently liken Trump Media & Technology Group to meme stocks like GameStop Corp (NYSE:GME).
Price Action: DJT shares were trading higher by 0.48% to $33.24 premarket at the last check Tuesday.
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