#Trump #Media #Stock #Halted #Shares #Swing
As shares of Trump Media & Technology Group (DJT) continued to rise earlier today — and Election Day approached — an unlikely price level briefly resurfaced: the stock’s all-time intraday high. Then things changed.
Shares traded at less than $12 last month. On Tuesday morning, with shares of Truth Social’s parent company up more than 10%, they were worth about $54. (Trading in the stock was briefly halted earlier today.) As of midday, the price was still around $54.
The latest prices represent a decline from pre-market levels. The early morning action signaled a possible open at the highest levels since the stock’s record high near $80, seen earlier this year following the company’s merger with a blank check company.
Where to next? Traders, including retail investors, appear to be using the stock in part as a way to bet that former President Donald Trump, the company’s majority owner, will win re-election. Some poll averages indicate a close race with Vice President Kamala Harris, especially for Electoral College votes in hotly contested states. However, Trump’s perceived chances have recently risen in some prediction markets.
This future perception has helped some other assets recently: Bitcoin, for example, recently traded at around $71,000. Trump’s re-election is generally seen as more favorable for cryptocurrency markets.
Trump Media’s market cap is about $9.5 billion.
#Trump #Media #Stock #Halted #Shares #Swing
