Jacques Silva | Sopa Images | Light Rocket | Getty Images
shares Trump Media Up more than 7% on Monday, the stock took a breather from a two-month rally losing streak Earlier than its major shareholder and former president Donald Trumpcan start selling his shares.
Shortly before 1 p.m. ET, Trump Media shares were trading at $18.39, up 7.59% from Monday morning’s opening price.
Before Monday’s surge, the stock had fallen nearly 45% since its latest high in mid-July. Attempt to assassinate Trump At a campaign rally in Pennsylvania.
Shares of Trump Media, stock code “DJT”, have fallen nearly 70% from their all-time high in March, when the company Start public trading After merger with special purpose acquisition company.
stocks wednesday Close below Where they trade in late 2023.
Trump Media, the parent company of social media platform Truth Social, saw its stock price rise on Monday without providing an obvious explanation.
but one New Times/Siena Poll Showcase Trump and the Democratic nominee on Sunday Kamala Harris Keep up with the competition White House That could be one reason for the rally in the stock, which is often used as a proxy for Trump’s chances of being elected.
The poll showed Trump leading Harris by 1 percentage point, 48% to 47%, within the margin of error of the survey.
The Republican candidate also took to Truth Social himself on Monday to promote the platform.
Shortly after 10 a.m. ET, Trump posted on the platform, “Social truth is great. The real voice of America!”
Trump owns nearly 59% of Trump Media’s outstanding shares. The value of his holdings has fallen sharply in recent months.
As of 12:45 Monday, the company’s market capitalization was just over $3.6 billion. At its peak, Trump Media was valued at nearly $8 billion.
He and other company executives can start sell their shares He will take up a new role at the company later this month, but it’s unclear whether the former president will do so.
This is a developing story, please check back for updates.
