Shares of Trump Media & Technology Group (DJT), the company linked to President-elect Donald Trump, surged by 17% today, reaching levels not seen since before the election.
This significant uptick comes as traders appear to position themselves ahead of Trump’s second inauguration, scheduled for next Monday. The company’s stock, often swayed by perceptions of Trump’s political fortunes, had largely stagnated since early December. However, today’s rally signals renewed interest among investors in anticipation of the high-profile event.
In the months leading up to the election, DJT shares experienced a turbulent ride. In the fall, prices dropped below $12 amid concerns that Trump and other insiders might sell off their holdings once eligible. Despite these fears, the stock rebounded strongly, climbing nearly $55 before Election Day. As of today, shares are trading near the $40 mark.
The rise in DJT stock has occurred against a backdrop of limited corporate news. Trump Media’s most recent quarterly earnings were reported in November, but financial performance has not been the primary catalyst for the stock’s movement. Speculation about acquisitions or other significant developments remains quiet, leaving political developments and market sentiment as the key drivers.
As traders keep an eye on Trump’s upcoming inauguration, DJT shares may continue to reflect the intersection of politics and market dynamics.
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