Trump Media & Technology Group insiders sold stock worth more than $16 million in the days after the presidential election, according to a series of filings late Tuesday. But Donald Trump wasn’t among those selling up. The company’s Chief Financial ...

If there's also more traffic on Trump Media's social media platform Truth Social and its recently launched streaming service Truth+, investors could see improved results for the company. Is the stage set for this volatile stock to get back to the highs it reached earlier this year?

Shares of Trump Media & Technology (NASDAQ: DJT) were soaring last month in seeming anticipation of a Trump victory in Tuesday's election as the former president's poll numbers generally improved over the course of the month, as did his chances of victory, according to betting markets.

Analysts haven't set any long-term estimates for Trump Media yet, but the stock is absurdly valued relative to its past sales. With an enterprise value of $5.77 billion, it trades at over 1,440 times last year's sales. Therefore, it's a meme stock that could easily plummet more than 90% and still be overvalued.