Possible confusion arose over the new stock symbol for former President Donald Trump’s Truth Social, with some investors experiencing a brief surge in their brokerage balances on Tuesday, marking the first day of trading for Trump’s “DJT” ticker.
Numerous individuals took to social media to express frustration over momentarily witnessing their DJT stock holdings on Charles Schwab platforms inflated to amounts more aligned with the Dow Jones Transportation Average (.DJT).
Reports surfaced of similar discrepancies occurring during pre-market hours on Morgan Stanley’s E*Trade trading platform.
On Tuesday, shares of Trump Media & Technology Group commenced trading at $70.90, contrasting with the Dow Jones Transportation Average’s opening session at 15,937.73 points.
In one instance, a trader’s Schwab brokerage balance skyrocketed by over $1 million due to the glitch, as depicted in a screenshot shared on the social media platform X. Reuters was unable to reach the trader or independently corroborate the brokerage balance.
“It sure was nice seeing millions in the account, even if it wasn’t real,” shared another individual using the username @DanielBenjamin8, who encountered the issue in his E*Trade account, on X.
Two users on X and one on Reddit speculated that the inflated balances resulted from the similarity between the company’s ticker symbol and the index.
A spokeswoman for Charles Schwab acknowledged that certain users on Schwab’s trading platforms experienced brief inflation of their brokerage balances due to a technical glitch.
The matter has since been resolved, and investors can now trade equities and options on Schwab platforms, she stated, without disclosing the exact cause of the issue.
E*Trade did not respond immediately to a request for comment outside of regular business hours.
Neither Trump Media & Technology Group nor S&P Dow Jones Indices, which oversees the Dow Jones Transportation Average Index, commented immediately on the matter.
While social media users indicated that the issue seemed to have been addressed, many lamented their inability to capitalize on their purported gains from the error.
“I better go tell my boss that I’m actually not retiring,” remarked the trader whose account balance had briefly surged by more than $1 million, on X.
