DJT stock climbs after Trump says he will not sell shares

Published On Nov 8, 2024, 10:50 AM

Trump Media & Technology Group's stock (DJT) experienced a surge of up to 15% after Donald Trump announced he would not sell his shares in the company. This announcement was made on Trump's social media platform, Truth Social, where he reaffirmed his 60% stake in the company. Following the announcement, while the stock's gains reduced to around 9%, the stock has remained relatively stable over the past week and has risen over 60% in the past month despite experiencing some volatility related to recent election results. The company recently reported a net loss but appears to be gaining confidence from Trump’s comments which often have significant influence on investor sentiment regarding the stock.

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Positive

Investors might view Trump's commitment to holding his shares as a bullish indicator for the company, instilling confidence. The stock's prior volatility, however, suggests there could be risks involved, particularly related to overall market sentiment and company performance.

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