Donald Trump’s Truth Social: DJT Stock Surging as Election Nears

Trump's Truth Social Stock Surges

Donald Trump's media company — which trades under the ticker DJT, the same as the former president's initials — is often in the spotlight, especially in terms of financial markets. Trump Media & Technology Group jumped 18% on Monday, concluding three weeks of gains and reversing a slump that had brought the stock to a post-listing low at the end of September.

Shares of Trump Media rose $4.67, or 18.5% on Monday, closing at $29.95. Despite the recent momentum, DJT is still trading at below half of its March peak. The volatility of Trump Media shares has led some analysts to label it a meme stock, trading primarily on social media buzz rather than traditional analytical measures such as revenue and profitability.

DJT, which faced a 30% decline in revenue in the most recent quarter, has garnered a dedicated base of Trump supporters who are small investors eager to back the former president. The core asset of Trump Media, Truth Social, just launched its streaming service, Truth+ TV, making waves in the industry.

DJT Stock Moving with Election Sentiment

DJT has been perceived as a proxy for Trump's potential electoral success in the upcoming November 5 election, with polls indicating a tight race between Trump and Vice President Kamala Harris. Recently, prediction markets such as PredictIt.org have shifted from favoring Harris to giving Trump stronger odds.

The $DJT group on Truth Social boasts over 20,000 members, with many posts from Trump supporters encouraging others to buy DJT stocks. This growing community is playing a significant role in the stock's trajectory as the election looms.