Trump Media & Technology Group Corp. (NASDAQ:DJT) and TAE Technologies Inc. said Wednesday they remain focused on completing their previously announced merger, with the companies targeting a closing in the fourth quarter of 2026 or earlier.
Companies End Spin-Off Discussions
The companies also provided an update on a separate proposal involving Texas Ventures Acquisition III (NASDAQ:TVA).
As previously disclosed on Feb. 27, 2026, Trump Media, TAE Technologies, and Texas Ventures Acquisition III had been exploring a transaction that would have spun off certain Trump Media & Technology Group media assets, including Truth Social, into a newly public company that could later merge with Texas Ventures Acquisition III following completion of the merger.
After further review, the parties said they have decided not to continue pursuing the proposed spin-off at this time.
Following completion of the merger, the board of directors of the combined company will evaluate potential strategic alternatives for its legacy business units, including Trump Media & Technology Group’s media assets. The companies said the review will focus on opportunities to enhance shareholder value.
Stock Performance And Technical Analysis
Trump Media stock traded lower by more than 2% on Wednesday as broader market weakness weighed on risk sentiment, and the stock remained under pressure from a long-term downtrend. The Nasdaq Composite fell 1.21%, while the S&P 500 declined 0.94%.
The longer-term trend remains negative. DJT has lost 61.7% over the past 12 months and continues to trade below all major moving averages.
The stock is trading 6.4% below its 20-day simple moving average of $8.56 and 35.3% below its 200-day simple moving average of $12.37. The moving average structure also remains bearish, with the 20-day average below the 50-day average and the 50-day average below the 200-day average.
Momentum indicators point to continued weakness. The moving average convergence divergence indicator remains below its signal line, while the histogram is negative, suggesting bullish momentum has faded.
DJT is trading just above its 52-week low of $7.76. With shares near that level, traders are closely watching whether support holds. A break below the low could trigger additional volatility and selling pressure.
Key resistance stands at $8.56, near the 20-day moving average. Immediate support remains at $7.76.
Photo by Piotr Swat via Shutterstock
DJT Price Action: Trump Media shares were down 2.02% at $7.99 at the time of publication on Wednesday, according to Benzinga Pro data.