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trading trump media Shares were suspended multiple times on Tuesday morning for volatility as the company, majority owned by Donald Trump, bounced in early trading.
The company, which trades on the Nasdaq market as DJT, stopped For five minutes at 9:36 a.m. ET, the stock was up about 14%.
Trading was halted for a second time at 9:42 a.m., and the stock rose nearly 9%. The company stopped again at 9:50 a.m.
In the first 10 minutes of the trading day, approximately 16 million shares of Trump Media were bought and sold. By 10:15 a.m., the company’s 30-day average volume had already exceeded 35.1 million shares.
Trump Media (DJT) stock price
The volatile trading came after DJT stock had already soared more than 21% on Monday on extremely heavy trading volume.
The gains added to a pre-election rally that began in late September, after months of decline that saw the company’s stock price below $12.
Just over a month later, Trump Media stock was trading at more than four times that price.
The stock is up 224% so far this month, the fastest monthly gain since October 2021, when the blank check company known as DWAC announced plans to merge with then-President Trump’s private media company. .
The merger, which took Trump Media public, was completed in late March.
The company’s stock price is now well above its recent high in mid-July, when the stock soared after the Republican presidential candidate narrowly escaped death in an assassination attempt.
Trump owns nearly 57% of the company, which operates the Truth Social platform. As of Monday’s closing price, his shares were worth more than $5.4 billion, more than half of his paper net worth, according to . forbes.
As of Tuesday’s opening bell, the former president’s stock was worth more than $6 billion.
Trump Media boasts a market capitalization of more than $10 billion, despite poor revenue and hundreds of millions of dollars lost in recent fiscal quarters.
Analysts believe many of the company’s pro-Trump retail investors are buying shares to support the former president or bet on his chances of winning against Democratic presidential nominee Kamala Harris.
Monday’s rise followed President Trump’s massive campaign rally at Madison Square Garden in New York City.
The company’s gains coincide with political betting markets such as Polymarket and Calci leaning toward Trump over Harris in recent weeks.
Odds and gambling platforms are not a replacement for political polls as they do not use the same methodology used in traditional political polls. Critics have raised concerns that the election betting market is being manipulated.
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