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.
placeholder
BTC Hovers Near 60,000 Mark After Plunge. US May CPI Set to Be Revealed, How Is Wall Street Betting?Bitcoin's rebound falters as the U.S.-Iran conflict and CPI data likely sustain downward pressure.On June 10, escalating U.S.-Iran tensions put the already fragile crypto market to the te
Author  TradingKey
13 hours ago
Bitcoin's rebound falters as the U.S.-Iran conflict and CPI data likely sustain downward pressure.On June 10, escalating U.S.-Iran tensions put the already fragile crypto market to the te
placeholder
Gold plummets below $4,200 as US‑Iran tensions spur hawkish rate bets ahead of US CPIGold (XAU/USD) extends the recent breakdown momentum below a technically significant 200-day Simple Moving Average (SMA) and drops to a fresh low since March 23, further below the $4,200 mark during the Asian session on Wednesday.
Author  FXStreet
14 hours ago
Gold (XAU/USD) extends the recent breakdown momentum below a technically significant 200-day Simple Moving Average (SMA) and drops to a fresh low since March 23, further below the $4,200 mark during the Asian session on Wednesday.
placeholder
Gold Prices Fall for Four Consecutive Months, Has the Precious Metals Bull Market Partially Ended? Where Is the Next Support Level?Gold Prices ( XAUUSD) Slump for Four Consecutive Months: Has the Precious Metals Bull Market Partially Ended? Where Is the Next Support Level?Year-to-date, international gold prices have
Author  TradingKey
15 hours ago
Gold Prices ( XAUUSD) Slump for Four Consecutive Months: Has the Precious Metals Bull Market Partially Ended? Where Is the Next Support Level?Year-to-date, international gold prices have
placeholder
WTI steadies around $87.50 despite renewed supply concernsWest Texas Intermediate (WTI) oil price experiences volatility after registering over 2.5% losses in the previous day, trading around $87.40 per barrel during the Asian hours on Wednesday.
Author  FXStreet
21 hours ago
West Texas Intermediate (WTI) oil price experiences volatility after registering over 2.5% losses in the previous day, trading around $87.40 per barrel during the Asian hours on Wednesday.
placeholder
US May CPI Preview: Rising Inflation May Push Up Fed Rate Hike Expectations, How Will US Stocks, Dollar, Gold React? The U.S. Bureau of Labor Statistics will release May CPI data at 8:30 AM ET on June 10. This report is the most critical inflation reading ahead of the Federal Reserve's policy meeting on
Author  TradingKey
Yesterday 09: 55
The U.S. Bureau of Labor Statistics will release May CPI data at 8:30 AM ET on June 10. This report is the most critical inflation reading ahead of the Federal Reserve's policy meeting on
goTop
quote