**Market Surge: Trump Media Stocks Soar After Rally with Elon Musk**
In a dramatic turn of events, shares of Trump Media skyrocketed on Monday, following a high-profile rally in Butler, Pennsylvania, where former President Donald Trump was joined on stage by Tesla CEO Elon Musk. The stock surged roughly 15% by 12:30 p.m. ET, with heavy trading volume, reaching around $19.00 per share.
During the 90-minute speech, Musk made a surprise appearance, praising Trump and declaring himself “not just MAGA, but Dark MAGA.” The billionaire entrepreneur reiterated his support for Trump’s presidential bid, emphasizing the importance of preserving the Constitution and democracy in America.
Musk’s endorsement of Trump dates back to the hours following the July 13 assassination attempt. Since then, he has been a key supporter of the Trump campaign and has even created a pro-Trump political action committee, America PAC. Although the committee faced investigation earlier this year, the probes were eventually closed without further action.
In return, Trump has expressed his gratitude by promising to establish a government efficiency commission, led by Musk, to identify and eliminate waste in the federal government. Trump Media’s regulatory filings have revealed that the company’s success heavily relies on Trump’s popularity and continued use of its flagship platform, Truth Social. Trump owns nearly 57% of the company’s stock.
Despite recent turmoil within the company, including the resignation of chief operating officer Andrew Northwall and a court-ordered release of 800,000 shares to an early investor, Trump Media’s stock has been steadily recovering since hitting a 52-week low on September 23. The rally with Musk appears to have injected new life into the company’s fortunes.
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