Trump Media Stock Jumps Again as Traders Bet on Election

Published On Oct 29, 2024, 4:42 PM

Shares of Trump Media & Technology Group, parent company of Truth Social, have surged over 300% in the past six weeks, fueled by speculation surrounding former President Trump's potential victory in the upcoming presidential election. The stock is experiencing high volatility and has reached a market value of over $10 billion. Reports suggest the company's value is disconnected from its actual performance, with concerns among employees about leadership. The stock's rise is also attributed to a potential short squeeze, as bearish investors face difficulties betting against the stock, contributing to further price increases. Individual investors, largely supporters of Trump, are driving much of the stock purchasing activity.