DJT stock skyrockets following Donald Trump's MSG rally as election looms

Published On Oct 28, 2024, 11:30 AM

Trump Media & Technology Group's stock (DJT) surged by approximately 20% following Donald Trump's rally at Madison Square Garden, buoyed by investor optimism about his chances in the upcoming presidential election. This leads to a significant 235% increase from its September lows. However, some analysts caution that this stock could face a steep decline if Trump loses the election, with some projecting it might even drop to zero. Other related stocks, such as Phunware and Rumble, also saw gains. Overall, trading sentiment suggests a speculative environment as the election approaches, hinging heavily on Trump's performance at the polls.

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Stock Forecasts

DJTView DJT chart on TradingView

Negative

DJT is experiencing significant volatility driven by speculative trading based on Trump’s election prospects. If Trump wins the election, DJT may stabilize or increase, but if he loses, a sharp decrease in stock value is anticipated.

DJTView DJT chart on TradingView

Neutral

Investors may want to consider hedging positions or investing in options that could protect against potential declines in DJT post-election, as the sentiment in the market appears preparing for a sell-off regardless of the election outcome, should it become clear that Trump will not continue as a favored candidate.

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