Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Cryptocurrencies

Trump Media and Technology Group (DJT) stocks’ rally extends, gaining over 18% today

Source Cryptopolitan

The Trump Media and Technology Group stocks DJT continued to see steady rise on October 14, pushing the growth seen by the stock before the Trump rally in Pennsylvania. DJT jumped by over 18% today, reaching $29.95 at the time of writing. Charts show that the stock briefly hit above $30 before dropping to $29.

DJT stock came into the markets in March as a meme stock, depending greatly on Trump’s success, especially in the upcoming November elections. Multiple prediction sites, including Polymarket and Kalshi, are placing Trump ahead. However, two of their counterparts, including FiveThirtyEight and RealClearPolitics, are placing Kamala Harris ahead.

According to Forbes, the increased price in DJT stocks has boosted Donald Trump’s net worth by approximately $530 million. The former president and renowned businessman owns 57% of the shares of the Trump Media. The Forbes real-time tracker also ranks Trump as the 603rd wealthiest person globally, with a net worth of approximately $5.5 billion.

DJT stock price fluctuates

Trump Media stock has had a rocky Q3, experiencing significant lows and notable losses. The second quarter was also similar, with the DJT dropping to a 4-month low and tanking Trump’s net worth by $170 million.

The stock’s good performance has been combined with significant developments, including the recent launch of the Truth+ TV streaming service, which will be accessible on Android and iOS devices.

Notably, Trump Media and Technology Group stocks, DJT, spiked significantly after Trump’s failed assassination attempt in July, increasing by approximately 50%. Truth Social also increased by approximately 41%, reaching $41. The failed assassination event further influenced the prices of other Trump-related stocks, such as RUM.

Pangaea’s founder, Terry Haines, explained that the assassination attempt was a major political event. Haines still noted that the attempt would only have a short-term boost to Trump’s candidacy.

“The logic of this doesn’t match up. … It’s a terrible event but that does not mean voters are going to be much more likely to [vote for him.]”

– Terry Haines, Founder of Pangaea

In a recent event, the DJT stocks dropped significantly after closing the stock’s lock-up period. The lock-up period expiry in September would allow stakeholders to transfer or trade their shares. The former president still mentioned that he did not plan to sell his shares, explaining DJT as an aid to get his word out.

Elon Musk contributes to the current DJT price boost

Elon Musk’s appearance during the recent rally boosted voter confidence in Trump and has fueled the continuing DJT rally. The SpaceX and Tesla founder and CEO appeared enthusiastic during the rally, reiterating that winning for Trump was necessary. Musk’s speech saying that he was a ‘dark MAGA’ reportedly resonated with attendees.

The SpaceX CEO has asserted himself as a Trump supporter over the years. In July, Musk tweeted that he would donate to the America PAC, which supports ‘meritocracy and individual freedom.’ According to Musk, the Republicans, while not entirely there, supported merit and freedom.

Trump has also shown interest in Elon Musk’s contribution in case he wins the elections, the former president recently said that he would have Musk in his cabinet, mentioning the SpaceX CEO’s business skills.

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

Fed hike odds near 90% into Wednesday's decision — how to trade the dollar, gold and the S&P 500 A 0.3% monthly core CPI print has lifted the market-implied probability of a 25bp Fed hike on 16 September to roughly 86.5% ~ 90%, which would be the first increase since July 2023. Here is the decision timeline, the pricing versus the forecasts, both scenarios, and the key levels for the dollar, gold and the S&P 500.

Author Suzie

Sep 14, Mon

A 0.3% monthly core CPI print has lifted the market-implied probability of a 25bp Fed hike on 16 September to roughly 86.5% ~ 90%, which would be the first increase since July 2023. Here is the decision timeline, the pricing versus the forecasts, both scenarios, and the key levels for the dollar, gold and the S&P 500.

Bitcoin falls below $75,000 as the CLARITY Act fails in the Senate — what the vote means for crypto The US Senate blocked the Digital Asset Market CLARITY Act in a 49-50 procedural vote, sending Bitcoin briefly below $75,000 — its biggest one-day drop since June. Ethereum fell more than 8%, Coinbase slid 10% and $75 billion of crypto market value evaporated. Here is what the vote was, why it failed, and the levels that matter now.

Author Suzie

Sep 16, Wed

The US Senate blocked the Digital Asset Market CLARITY Act in a 49-50 procedural vote, sending Bitcoin briefly below $75,000 — its biggest one-day drop since June. Ethereum fell more than 8%, Coinbase slid 10% and $75 billion of crypto market value evaporated. Here is what the vote was, why it failed, and the levels that matter now.

Dollar index tops 100 for the first time since July as the Fed's hawkish dot plot sinks in The U.S. dollar index broke back above 100 for the first time since 31 July after the Fed delivered its first rate hike since 2023, with the dot plot showing 16 of 18 officials expect at least one more increase this year. Here are the levels that matter for DXY, the currencies feeling it most, and what to watch next.

Author Irene Q.

Sep 17, Thu

The U.S. dollar index broke back above 100 for the first time since 31 July after the Fed delivered its first rate hike since 2023, with the dot plot showing 16 of 18 officials expect at least one more increase this year. Here are the levels that matter for DXY, the currencies feeling it most, and what to watch next.

Gold rebounds to near $4,350 on weaker US Dollar, falling oil prices Gold price (XAU/USD) rises to near $4,345 during the early Asian session on Friday. The precious metal rebounds from a six-week low amid falling oil prices and a weaker US Dollar (USD). Traders continue to assess the latest Federal Reserve (Fed) rate hike and policy cues.

Author FXStreet

Yesterday 01: 32

Gold price (XAU/USD) rises to near $4,345 during the early Asian session on Friday. The precious metal rebounds from a six-week low amid falling oil prices and a weaker US Dollar (USD). Traders continue to assess the latest Federal Reserve (Fed) rate hike and policy cues.

US to delay new "overcapacity" tariffs on China — what the pause means for trade, inflation and the dollar Washington is expected to hold off announcing new tariffs over Chinese "overcapacity" until after the 24 September summit, according to Bloomberg. The postponed plan would have added 7.5% to Chinese goods, taking second-term US tariffs to around 20%. Here is what is on the table, and what a deal versus no deal would mean for the yuan, Hong Kong equities and the dollar.

Author Mitrade

Yesterday 07: 43

Washington is expected to hold off announcing new tariffs over Chinese "overcapacity" until after the 24 September summit, according to Bloomberg. The postponed plan would have added 7.5% to Chinese goods, taking second-term US tariffs to around 20%. Here is what is on the table, and what a deal versus no deal would mean for the yuan, Hong Kong equities and the dollar.

Popular Symbols