Trump Technology & Media Shares Surge

Shares of Trump Technology & Media (DJT) rose by 14% at the market's open on Tuesday, adding to Monday’s significant gains. This surge followed a prominent rally held by Republican presidential nominee Donald Trump in New York City.

The rally at Madison Square Garden attracted thousands of Trump supporters, showcasing the former president's momentum as he approaches the upcoming election.

Following a 21% increase on Monday, DJT stock is now trading at heights not witnessed since May of this year. Trump’s campaign efforts seem to be elevating enthusiasm among pro-Trump retail investors, who see the stock as both a financial investment and a form of political endorsement.

Donald Trump possesses nearly 57% of Trump Media, which operates the Truth Social platform. At the stock's recent peak, Trump’s stake was valued at approximately $5.4 billion, indicating a significant recovery from late September, when DJT shares fell below $12.

In October, the stock reversed its trend, coinciding with shifts in the Republican nominee’s favor on political betting platforms. Analysts indicate that the fluctuations in DJT’s share price are more reflective of traders' optimism regarding Trump’s political future than of the company's underlying fundamentals.