Former U.S. President and Republican presidential candidate Donald Trump speaks at a campaign rally at Van Andel Arena in Grand Rapids, Michigan, on November 5, 2024.
Kamil Krzaczynski | AFP | Getty Images
Former President’s Shares Donald TrumpShares of the media company rose as voting in the contentious campaign concluded on Tuesday.
In the after-hours action, Trump Media & Technology Group It has recently gained about 10% in volatile trading.
The gains came despite gains in the stock, which is seen as a market proxy for the former president’s prospects as he seeks re-election. A surprising income statement This represents a third-quarter loss of $19.2 million.
Stocks have been volatile during the election season, with mixed gains and losses as Trump heads into a close race against Democratic Vice President Kamala Harris.
Trump Media Technology Group Stock
Shares are down more than 34% over the past five trading days as Harris appears to have regained momentum in the final days of the game. However, the stock has also surged more than 105% in the past month.
The stock jumped more than 18% at its intraday high on Tuesday as the candidate pushed higher at the close, but that was it. Closed 1.2% lower.
In its earnings release, the company reported revenue of just over $1 million.
“This has been an extraordinary quarter for the company, Truth Social users, and the retail investors who support our mission to be a beachhead for free speech online,” Trump Media CEO Devin Nunes said in a statement.
Nunes is a former congressman from California.
To be sure, the stock won’t necessarily be a perfect reflection of whether Trump wins. Given that the stock has rallied significantly this year, it could be affected by profit-taking and other factors.
