Susquehanna International Group, a leading stock trading company, has recently been found to have a 2% stake in Digital World, the blank-check company that merged with former President Trump’s social media platform. This has sparked speculation that the company’s founder, Jeff Yass, may be using his influence to funnel money to Trump. However, Susquehanna has stated that it remains neutral on the stock and that its primary focus is on providing bids and offers in the market.
The recently merged company, trading under the ticker DJT, owns Truth Social, where Trump has been active since being banned from Twitter in 2021. This has attracted the attention of algorithmic market-makers and quant funds who see it as a gauge of Trump supporters’ sentiment. Quantitative traders are drawn to retail trading since it is often driven by individual investors rather than larger economic trends.
In addition to their stock trading business, Susquehanna also has a private-equity and venture-capital arm. They own a significant stake in TikTok, which has raised further speculation about Yass’s potential influence due to Trump’s changing stance on the social media platform. Ultimately, Susquehanna’s role in the stock market is to provide liquidity and make trades, rather than necessarily investing based on the underlying value of the assets.
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