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shares Trump Media Shares soared more than 19% on Tuesday, truth society The operator was expected to post a fourth straight day of gains, its longest winning streak since June.
DJT Stock In extremely active trading, the stock jumped to $22 at one point, nearly 90% above its intraday low of $11.75 per share on September 24.
but share price It’s still well below its peak in late March, when shares hit $79.38 when the company first traded on the New York Stock Exchange. Nasdaq.
DJT stock traded more than 40 million shares as of 3:20 p.m. ET on Tuesday, more than three times the 30-day average.
Trump Media (DJT) stock price
The rally has accelerated since Saturday, when the company’s largest shareholder Donald Trumpheld a presidential campaign rally near Butler, Pennsylvania, the same location where he was nearly assassinated at a July 13 rally.
Trump returned to the scene and attracted thousands of supporters, Tesla CEO MuskHe endorsed the candidacy of the Republican nominee just minutes after the assassination attempt.
Musk, the billionaire owner of social media site X, told the audience that Trump “must win to preserve American democracy.”
But even though news about Trump’s media might typically raise concerns about the company’s well-being, the stock surged.
On Thursday, the company revealed its chief operating officer Andrew Northwallresigned in late September.
Neither Trump Media nor Northwall disclosed the reason for his resignation, and the company has not announced a successor.
Sandro de Moraes, Trump Media’s chief product officer, has also left the company, according to Trump Media’s Truth social account.
Puplica It was reported last week that in addition to DeMorais, multiple lower-level employees have recently left Trump Media.
Thursday’s filing with the U.S. Securities and Exchange Commission also showed that Trump Media is transferring nearly 800,000 shares of common stock to an entity called ARC Global Investments II, the blank check company that took Trump Media public through the merger. early investors.
The move comes after a judge ruled that Trump Media Violation of stock agreement In partnership with ARC Global.
In late September, a company controlled by two co-founders of Trump Media that held more than 5% of DJT shares sold almost all of its 11 million shares.
The sale comes shortly after early investors in the company, including Trump, were allowed to sell their shares.
Trump owns nearly 57% of Trump Media — a stake worth nearly $2.5 billion as of Tuesday. The former president vowed not to sell his stock.
Trump Media’s last two net losses exceeded $340 million, but revenue was less than $2 million quarterly report. Its Truth Social platform attracts only a fraction of the audience of established social media giants like X and Facebook.
Despite its lack of profits, the company has a market capitalization of over $4 billion.
Some analysts see Trump media as a way for retail investors to support Trump or bet on his chances of defeating the Democratic presidential nominee. Kamala Harris in the November election.
This is developing news. Please check back for updates.
