00:00Trump Media and Technology Group, the parent company of Truth Social, announced a stock buyback of up to $400 million, causing shares to rise about 3% in pre-market trading.
00:10The repurchase may include both common stock and warrants, with all bought-back shares to be retired.
00:17CEO Devin Nunes said the company's $3 billion balance sheet gives it the flexibility to support shareholder returns while pursuing strategic opportunities.
00:26The move comes after a recent $2.5 billion capital raise, which the company is using in part to purchase Bitcoin through partnerships with Anchorage Digital and Crypto.com.
