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Trump Media Stock Has Had a Wild Week

#Trump #Media #Stock #Wild #Week

Key takeaways

  • Shares of Trump Media and Technology Group, majority owned by former President Donald Trump, the Republican candidate, fell in early trading on Friday.
  • This week they have risen as much as 40% above last Friday’s close near $39 and are down about 15% below it.
  • This means huge fluctuations in the market value of Trump’s majority stake, which is nonetheless worth billions of dollars.

The final days of the US presidential campaign were highly dramatic for the candidates – and for the securities tied to their political – and partly personal – fortunes.

Shares of Trump Media and Technology Group (DJT), majority owned by former President Donald Trump, the Republican nominee, recently fell 3% to about $34. This week they have risen as much as 40% above last Friday’s close near $39 and are down about 15% below it. This means huge fluctuations in the market value of Trump’s majority stake, which is nonetheless worth billions of dollars.

Here’s a little bit of actual news about the company that runs Truth Social. Instead, traders seized on the story as a way to bet on the outcome of the presidential election, widely viewed as a race between Trump and Democratic Vice President Kamala Harris.

Polls generally point to a close race ahead of Election Day. In some prediction markets, speculators appear to believe more strongly in the probability of a Trump win: at BulliMarket, for example, traders generally backed the probability of a Trump win by more than 60% for most of this week; These odds were slightly lower on some other platforms. (here Investopedia Guide to betting on elections,)

Meanwhile, Trump Media shares have moved wildly, with trading in the stock being halted due to volatility several times this week. At one point, shares were trading at levels not seen since their high-flying days after they debuted on the public markets earlier this year.

Currently, prices are almost back to July levels after rising from October lows.

#Trump #Media #Stock #Wild #Week

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