Trump Media shares, trading as DJT on the Nasdaq, experienced multiple trading halts on Tuesday due to volatility. The company, majority owned by former President Donald Trump, saw shares rise sharply at times before falling, with trading volume exceeding the average. The stock surged over 21% on Monday after a preelection rally that began in September, lifting the price well above its previous low. Trump Media went public through a merger with a blank-check company in March, with Trump now holding nearly 57% of the company’s shares. Despite recent losses on low revenue, the company’s market cap exceeds $10 billion, driven in part by support from pro-Trump retail investors. Trump’s stake in the company is valued at over $6 billion, representing a significant part of his net worth. The company’s gains have coincided with Trump’s campaign rally and betting markets favoring him over Democratic nominee Kamala Harris. However, critics have raised concerns about manipulation in election betting markets, noting that these platforms do not use the same methodologies as traditional political polls. Overall, Trump Media’s shares have witnessed significant fluctuations and gains, reflecting the ongoing influence of Trump’s brand and political connections on the stock market.
Photo credit
www.nbcnews.com
Trading of Trump Media shares paused multiple times as DJT fluctuates wildly.
