Trump Media DJT shares gain on Election Day as traders bet potential GOP candidate win will boost business
From CNBC: 2024-11-05 06:49:27
Former President Donald Trump’s rally in Las Vegas on September 13, 2024, sparked a rise in shares of Trump Media & Technology on Election Day. The stock, trading under DJT, is closely tied to Trump’s prospects of re-election. Despite recent struggles, the stock was up 6% in premarket trading.
Year to date, Trump Media has nearly doubled in value but faced a recent 33% drop. Vice President Kamala Harris’s momentum caused uncertainty. Analysts caution against long-term investment due to volatile market behavior. Reddit page WallStreetBets has seen a surge in discussions about DJT stock.
Despite the stock’s unpredictability, a recent NBC News poll shows Trump and Harris in a tight race, each with 49% voter support. The stock’s fluctuations reflect political uncertainties surrounding the upcoming election. Retail trader interest and Reddit discussions have contributed to the stock’s wild swings.