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Trump Media & Technology Group Stocks soared Tuesday in reaction to Election Day, as voters head to the polls to choose between former President Donald Trump, the company's majority shareholder, and his opponent, Vice President Kamala Harris.
The stock, which trades under the ticker DJT, is popular among retail traders and is seen as a speculative bet on Mr. Trump's chances of winning a second term in the White House.
Former U.S. President Donald Trump dances during a campaign rally in Crotona Park in the South Bronx on Thursday, May 23, 2024 in New York City. (James Devaney/GC Images/Getty Images)
Trump Media stock soared more than 14%. election day Although it has risen, the situation has remained unstable in recent weeks. The stock, which was at an intraday high of more than $40 a share as of Tuesday afternoon, has fallen more than 20% over the past five days.
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Last week, DJT had its worst day ever, plummeting 22% on Wednesday and wiping more than $1 billion off President Trump's net worth. The decline continued the next day, society of truth The parent company was suspended twice this morning due to volatility.
| ticker | safety | last | change | change % |
|---|---|---|---|---|
| DJT | Trump Media & Technology Group Corporation | 35.88 | +1.54 |
+4.49% |
Trump Media & Technology Group Corporation
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Still, Trump Media stock has risen more than 100% in the last month, at one point nearly doubling the former president's net worth to $8 billion. According to Forbestracks the wealth of the world's richest people.
Trump Media and Technology Group operates social media platform “Truth Social” (Reuters/Dado Ruvic/Illustration/Reuters Photo)
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For the second quarter, Trump Media reported a loss of $16.4 million and revenue of $837,000. The company's market capitalization is approximately $6 billion.
Reuters contributed to this report.
