Trump's social media stock is making an epic comeback as election nears [View all]
Business / Investing
Trumps social media stock is making an epic comeback as election nears
By Matt Egan, CNN
3 minute read
Updated 4:10 PM EDT, Mon October 14, 2024

Trump Media & Technology Group has become a way for traders to bet on whether or not former President Trump will be back in the White House.
New York (CNN) Former President Donald Trumps social media company is on fire on Wall Street. Its all about Trumps perceived chances of retaking the White House.
Up until very recently, Trump Media & Technology Group had been in meltdown mode. Its share price dropped to a record low of $12.15 on September 23, marking a stunning 82% crash from its high.
But the owner of Truth Social is enjoying a massive rebound of nearly 150% in the three weeks since, more than doubling its share price. It spiked nearly 50% last week alone and surged another 18% Monday.
Its a remarkable turnaround, even for a notoriously-volatile stock that has been described as a meme stock on steroids.
Trump Media did not announce a sudden revenue stream or a flashy new product that could explain the move. It didnt land an endorsement from Wall Street analysts or a major shareholder.
Instead, the turnaround has been fueled by the perceived odds of Trump winning in November. Trump Media has long served as a way for traders to bet on the election.
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