Republican presidential candidate and former U.S. President Donald Trump reacts during a rally in Las Vegas, Nevada, United States, September 13, 2024.
Piroschka Van De Wouw | Piroschka Van De Wouw Reuters
shares Trump Media & Technology Shares rose on Election Day on Tuesday as traders bet a re-election of President Trump would boost the business prospects of Truth Society operators.
stocks traded Under the ticker symbol DJT — the initials of former President Trump — are also seen as representative of the prospects for Republican candidates to regain the White House. Wall Street research firms named the stock one to watch on Tuesday.
In pre-market trading, the stock last rose about 10.8%.
DJT 1 day chart
Shares of Trump Media, in which Trump has a majority stake, have nearly doubled so far this year. However, it has struggled recently, with Vice President Kamala Harris appearing to gain momentum ahead of Election Day. Shares have plummeted 33% in the past week. But the stock rose 12% on Monday.
“Our deal is like game station “It’s on steroids right now,” Jay Woods, chief capital strategist at Liberty Capital Markets, said on CNBC on Monday.
“You know, people who make money trading deserve credit. But in the long run, these metrics don’t mean anything,” Woods added.
Shares of Trump Media attracted significant inflows from retail traders in the week leading up to the election and have been the most discussed stock on Reddit page WallStreetBets, where the stock gained popularity during the GameStop-fueled 2021 stock meme craze.
Despite the wild swings in DJT stock, Latest NBC News Poll It shows that Trump and Harris are evenly matched, with both candidates receiving the support of 49% of voters.
–Reporting by Kevin Brauninger and Alex Harling
