Trump’s Media Empire Sees Resurgence Ahead of Inauguration
As the clock ticks down to President-elect Donald Trump’s second inauguration, investors are betting big on his media company, Trump Media & Technology Group (DJT). Shares surged 17% to reach levels not seen since before the election, reviving the “Trump Trade” phenomenon.
A Volatile Ride for DJT Shares
The operator of Truth Social has seen its shares fluctuate wildly in recent months. After dropping below $12 in the pre-election fall, they skyrocketed to nearly $55 before Election Day, only to settle around $40 currently. This rollercoaster ride has been driven more by traders’ perceptions of Trump’s political fortunes than by corporate news or financial results.
A Quiet Period on the Corporate Front
Despite the lack of significant announcements or acquisition rumors, Trump Media’s last quarterly financial results, released in November, have had little impact on the stock’s performance. Instead, investors seem to be focused on the potential implications of Trump’s second term on the company’s prospects.
Buying Ahead of the Big Event
With the inauguration just around the corner, traders may be looking to buy into DJT shares in anticipation of a potential surge. This phenomenon is reminiscent of the pre-election period, when Trump’s political momentum boosted the stock. As the market prepares for the president-elect’s second term, all eyes will be on DJT to see if it can maintain its upward momentum.
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