Trump Technology & Media Shares Surge

Investing.com — Shares of Trump Technology & Media (DJT) surged another 8% in premarket trading on Monday, continuing a sharp rally from recent weeks.

The rise has been propelled by investor optimism on a potential Trump victory in the 2024 U.S. presidential election. This trend has seen the stock triple in value over five weeks, reflecting increased market speculation.

Analysts note that DJT is capitalizing on political momentum, rather than traditional financial fundamentals.

Despite its soaring market capitalization, the company reported only $837,000 in second-quarter revenue, a figure that is significantly low to justify a multibillion-dollar valuation.

However, traders remain undeterred, focusing on Trump’s political outlook and its potential impact on the company.

Current polls indicate a close race between Trump and Vice President Kamala Harris, further boosting DJT’s share price as market players increasingly entertain a possible Trump victory.

Trump’s decision to hold onto his shares in the company—valued at over $4.5 billion—has also bolstered investor confidence.

After earlier declines in July and August, DJT stock is rebounding as Trump gains traction in national polls. Analysts suggest that if Trump wins the White House, the stock could rise even further, though they caution that the opposite outcome might lead to a sharp decline.

Despite the surge in share price, DJT remains a potentially volatile investment closely tied to political changes.