Editor’s note: This story has been updated with comment from Company X & Technology Group.
Challenging the Status Quo
An internal whistleblower has sounded the alarm at DJT Corporation, suggesting a departure from the ‘America First’ mantra. The complaint accuses CEO Devin Nunes of adopting an ‘America Last’ hiring strategy, allegedly favoring overseas contractors over American labor, a stark contrast to the company’s professed commitment to end outsourcing.
According to a ProPublica report, the complaint outlines management missteps and legal dangers under Nunes’ leadership, calling for his removal. With over half the workforce allegedly backing the dissent, the concern is that the current trajectory is veering the company off its intended path.
Striking back, a Company X & Technology Group representative declared plans to pursue legal recourse against the ProPublica article, labeling it as defamatory.
DJT Stock Momentum Amidst Obstacles
Despite the turbulence surrounding the company, DJT stock continues its meteoric rise, surging nearly double in value since the middle of September. Over the last month alone, DJT’s stock price has soared by an impressive 143.46%.
Investors remain bullish on DJT, with the stock emerging as a popular pick in meme-stock circles. This ascent, likened to the upbeat projections for Trump’s potential 2024 bid, stands out even more prominently given the lack of significant revenue generation from Truth Social, the company’s flagship platform.
Chart created using Benzinga Pro
A technical analysis reveals a mixed bag for traders eyeing DJT stock. While the stock trades above its short-term moving averages, indicating positive momentum, a note of caution arises from its long-term moving average, hinting at a potential downturn.
Chart created using Benzinga Pro
While the Moving Average Convergence/Divergence (MACD) remains in positive territory, boasting a value of 3.24, concerns arise from the Relative Strength Index (RSI) edging towards 68.32, nearing the overbought threshold.
Navigating Stormy Waters Ahead
As DJT stock hovers around $30 per share, traders ride the wave of volatility. The whistleblower allegations could introduce regulatory hurdles, potentially tempering the current stock euphoria.
The warning in the whistleblower complaint hints at a looming PR nightmare and a subsequent loss of investor trust if corrective actions are not promptly taken.
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