The value of Trump's stake in Trump Media has increased by about $4 billion in October, as investors are betting heavily that he'll win next week's presidential election.
Trading of Trump Media shares was temporarily halted for volatility as the company majority-owned by Donald Trump surged at the opening bell. Omar Marques | Lightrocket | Getty Images Trading of Trump Media shares was temporarily halted for volatility Tuesday as the company majority-owned by Donald Trump surged at the opening bell.
Trump Media (NASDAQ: DJT) has seen a continued, impressive surge as the former President and Republican candidate's odds of securing a second term in the White House seem to be increasing.
The company's latest market value puts it in the ballpark with X, the site formerly known as Twitter that billionaire Elon Musk took private.
With the 2024 presidential election fast approaching, Trump Media stock is up more than 200% over the last month.
The share price of the social media company majority owned by Donald Trump skyrocketed Monday morning, furthering the trend as prediction markets drift in favor of the former president, minting billions of dollars in additional net worth for Trump on paper.
Though it experienced some setbacks along the way, Trump Media (NASDAQ: DJT) stock has been on an exceptionally strong rally since late September.
Shares are up 248% since its all-time closing low of $12.15 on Sept. 23.
The 2024 presidential election is just around the corner, and Trump Media stock is now up roughly 176% over the last month.
Trump Media (NASDAQ: DJT) stock has become a popular alternative gauge of the Republican candidate's victory odds in the November elections.
There was a boon in companies going public via special-purpose acquisition companies in 2020 and 2021. Since then, not so much.
It's still tough to justify buying the stock, which trades under the ticker DJT, based on its underlying fundamentals.