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Updated: Trump Media & Technology Group Stock Performance on Friday (NASDAQ: DJT)


Trump Media & Technology Group Corp (DJT) experienced volatility in its stock during Friday’s trading session after announcing a deal to acquire critical assets for its content distribution network (CDN). The company acquired non-exclusive perpetual licensing rights for new CDN technology from Perception Group, Inc. This technology will be used to power linear TV streaming through TMTG’s social media platform, Truth Social, and eventually stand-alone applications.

The deal also includes a potential future buyout of Perception Group, with restrictions on its operations in competitive markets in the U.S. for the next five years. Trump Media plans to finance the deal by issuing 5.1 million shares of common stock and paying $17.5 million over three years. In addition, TMTG has secured an equity purchase agreement with Yorkville Advisors, allowing it to issue stock up to $2.5 billion at a discount.

The company aims to use these funds to acquire more assets and technologies to support free expression and reduce Big Tech’s influence on digital communication. Trump Media’s strategy focuses on enhancing its offerings and expanding its user base by providing a platform for content at risk of cancelation by mainstream tech companies.

Meanwhile, former President Donald Trump, the majority stockholder of Trump Media, challenged President Joe Biden to a debate with no moderators and fewer rules, criticizing the structured format of their previous debate. Trump believes this format would test Biden’s competence under pressure.

As a result, DJT shares were trading lower by 5.27% to $29.46 at the last check on Friday.

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Photo credit www.benzinga.com

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