Donald Trump’s media company, Trump Media & Technology Group, saw a significant stock price increase, reaching its highest closing level in about six weeks, signalling growing investor confidence as the U.S. presidential election approaches.
- Stock Performance: Trump Media & Technology Group’s stock rose by 17.3% on Thursday, with a weekly increase of 46%, closing at $24.12. This surge occurred amid trading volumes nearly triple the 30-day average, with approximately 44 million shares traded.
- Ownership and Influence: Donald Trump, who owns 57% of the company, is currently a Republican presidential nominee. His media company’s stock performance is closely watched as a reflection of his political prospects.
- Election Odds: On the betting platform PredictIt, Trump’s odds for winning the upcoming November 5 election have improved, moving from 49 cents to 52 cents. Vice President Kamala Harris, also at 52 cents, has seen a slight decline from 55 cents.
- Polling Data: A recent Reuters/Ipsos poll shows a tight race, with Harris leading Trump by a narrow margin of three percentage points (46% to 43%).
- Market Impact: The company’s market valuation neared $10 billion following its Wall Street debut in March, propelled by Trump supporters and retail traders speculating on Trump’s potential re-election.
The rise in Trump Media & Technology Group’s stock reflects a heightened investor interest tied to the political fortunes of its major shareholder, Donald Trump, as the presidential election draws near, creating a volatile but potentially lucrative market scenario.
