DJT stock surges to highest level since July as bets rise on Trump election odds
Published On Oct 22, 2024, 2:18 PM
The stock of Trump Media & Technology Group (DJT) has reached its highest level since July, with shares rising nearly 10% as investors respond to improved odds regarding former President Donald Trump's chances in the upcoming election. Betting markets indicate a favorable shift for Trump, despite national polls showing a tight race against Democratic nominee Kamala Harris. The stock had previously struggled after the expiration of a lockup period and a disappointing second-quarter report. Trump's recent campaigning efforts and endorsements, including support from tech billionaire Elon Musk, have contributed to the stock's surge.
Stock Forecasts
DJT
Positive
Given the recent surge in stock price and improved betting odds for Trump's election chances, DJT appears to have positive momentum. However, the company's fundamentals remain weak, highlighted by past financial losses. Investors should consider short to mid-term opportunities but approach with caution as potential volatility exists based on election developments and market reactions.
Related News
Analysis-From bitcoin to Mexican peso, ‘Trump trades’ are appearing again
Oct 18, 2024, 1:05 AM
Corners of financial markets that could feel the impact of a Donald Trump victory are stirring again, as the U.S. presidential race tightens with less than three weeks until Election Day. Assets ranging from small-cap stocks to bitcoin have climbed in recent weeks while the Mexican peso and Treasuries have slipped, as polls show a tight race between Republican candidate Trump and his Democratic opponent, Vice President Kamala Harris. The moves echo the so-called Trump trades from earlier this year when he pulled ahead of President Joe Biden, only to fade after Biden withdrew.
DJT stock extends massive rally as election odds shift in Donald Trump's favor
Oct 14, 2024, 12:46 PM
Over the weekend, both domestic and overseas betting markets shifted in favor of a Trump victory,
Trump Media shares make comeback as former president's election odds rise
Oct 14, 2024, 12:23 PM
Shares of Trump Media and Technology Group are up more than 50% over the past month as the former president's chances of winning the 2024 election surge.