What's Going On With Trump Media Stock Today?

Trump Media & Technology Group Corp. DJT shares are trading slightly higher on Wednesday.

The parent company of Truth Social, Truth+, and Truth.Fi, has filed a lawsuit alongside Rumble Inc. RUM to challenge Brazilian Supreme Court Justice Alexandre de Moraes.

The lawsuit, filed in U.S. federal court in Tampa, Florida, aims to prevent attempts by Moraes to force Rumble to censor accounts of a U.S.-based Brazilian user.

The legal action seeks to protect free speech, asserting that Moraes’s gag orders violate the First Amendment of the U.S. Constitution and other laws.

The gag orders demand the suspension and prohibition of account creation, as well as the handover of account-holder information. Additionally, Moraes’s orders impose daily fines and threaten the shutdown of Rumble.

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Neither Rumble nor TMTG have any entities, operations, employees, bank accounts, or businesses in Brazil.

Trump Media CEO Devin Nunes expressed the company’s commitment to upholding free expression, emphasizing that this issue goes beyond a slogan and is central to Trump Media’s mission.

The company also argues that compliance with these demands would harm Trump Media, as Truth Social operates on Rumble’s servers.

“We’re proud to join our partner Rumble in standing against unjust demands for political censorship regardless of who makes them,” Nunes said.

According to Benzinga Pro, DJT stock has lost over 35% in the past year.

Price Action: DJT shares are trading higher by 0.37% to $29.12 at last check Wednesday.

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