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.

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Stock Forecasts

DJTView DJT chart on TradingView

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.

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