Trump Media’s Stock Surge Masks Deeper Business Uncertainty
Economist Peter Schiff has renewed his criticism of Trump Media & Technology Group, arguing that the company’s market value is driven almost entirely by its association with President Donald Trump rather than by any durable business fundamentals.
Schiff’s comments follow DJT’s latest strategic turn – a proposed all-stock merger with fusion energy firm TAE Technologies – which would dramatically reshape the company’s identity once again. In Schiff’s view, the move reinforces a pattern of reinvention that reflects a lack of a stable, revenue-generating core.
Key takeaways:
- Peter Schiff argues DJT lacks intrinsic value beyond its link to Donald Trump.
- The proposed fusion energy merger marks another major strategic pivot.
- Critics see repeated reinvention as a sign of an unclear business model.
- Investor interest may be driven more by political association than fundamentals.
A Pattern of Constant Reinvention
Since its debut, DJT has repeatedly changed direction. It began as a social media venture built around Truth Social, intended to rival established platforms. When growth and monetization failed to gain traction, the company expanded into financial technology and digital assets, even announcing plans to hold Bitcoin as a treasury reserve. Now, with the fusion energy deal, DJT is positioning itself within one of the most capital-intensive and speculative areas of advanced technology.
$DJT, a company owned by Donald Trump, has little intrinsic value beyond its connection to the President. It began as a social media company, pivoted into a Bitcoin treasury company, and is now merging with a fusion energy company. The constant reinvention makes clear that the…
— Peter Schiff (@PeterSchiff) December 18, 2025
Schiff argues that these shifts are not motivated by operational logic or clear synergies, but by the perceived value of political proximity. From that perspective, DJT’s appeal lies less in its products or expertise and more in the influence associated with the Trump brand – influence that could be attractive to partners operating in heavily regulated industries.
Political Capital Over Business Fundamentals
The proposed merger would value the combined DJT–TAE entity at more than $6 billion and place DJT among a small group of publicly traded companies connected to nuclear fusion research. Company executives have framed the deal as a long-term investment in clean energy, citing growing electricity demand from data centers and artificial intelligence infrastructure. Commercial fusion, however, remains unproven, with large-scale deployment still years away.
Despite the uncertainty, the market reaction has been sharp. DJT shares jumped following the merger announcement, extending a short-term rally that has pushed the stock up more than 50% over five days. The surge comes after a difficult year for the company, with shares still down more than half on a year-to-date basis.
Volatility Reflects Speculation, Not Stability
For critics like Schiff, the volatility underscores the central issue: investor enthusiasm appears tied less to business execution and more to headline-driven speculation. Whether the fusion bet ultimately delivers lasting value remains an open question — one that may test whether DJT can finally anchor itself to a sustainable business model rather than continual reinvention.
The information provided in this article is for educational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.
Alexander Zdravkov is a person who always looks for the logic behind things. He has more than 3 years of experience in the crypto space, where he skillfully identifies new trends in the world of digital currencies. Whether providing in-depth analysis or daily reports on all topics, his deep understanding and enthusiasm for what he does make him a valuable member of the team.
