DJT stock continues rally after Trump announces 'no intention' to sell shares
Published On Nov 11, 2024, 8:58 AM
Trump Media & Technology Group (DJT) saw its stock rise significantly after Donald Trump announced he has no intention of selling his shares in the company. This announcement sparked a rally, with premarket trading showing a jump of 7% following a prior increase of 15%. Trump holds about 60% of the company, which recently posted a net loss for the third quarter, yet the stock fluctuates widely based on Trump's political fortunes and election outcomes.
Stock Forecasts
DJT
Negative
The stock's recent rally appears driven by Trump's personal stake and political momentum following his victory in the presidential election. However, the company's fundamentals are shaky, reporting a significant net loss and declining revenue, which suggests long-term volatility rather than sustainable growth.
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