Why Trump Media Stock Is Soaring Again Today
Trump Media & Technology Group (NASDAQ: DJT) stock is posting another day of big gains in Monday's trading. The company's share price was up 17.5% as of 11:30 a.m. ET, according to data from S&P Global Market Intelligence.
With the 2024 presidential election rapidly approaching, Trump Media has gained favor as a meme stock. Some investors are betting that the stock will continue to gain ground if Donald Trump wins the election, and it's powering big gains for the company's share price. The stock is now up roughly 209% over the last month.
Some polls and political-prediction betting sites have been showing shifts that suggest Donald Trump may be on track to win the 2024 presidential race. In addition to running for president, Donald Trump is also Trump Media's largest shareholder. While it's not immediately clear how a Trump victory in the election would impact Trump Media's business, the prospect of an electoral win has been enough to power explosive meme-stock momentum.
Source Fool.com
