Let’s check the latest news about Trump stock below.
TMTG is a publicly traded company focused on social media and technology. With a market presence since 27th/October/2021, TMTG endeavors to reshape social media engagement by competing with Twitter(X). TMTG actively expands its digital presence by enhancing user engagement through innovative technologies and social media content. However, TMTG’s majority stocks are owned by Donald Trump.
2024 Surge in Trump Stock Price
Trump Media & Technology Group Corp’s (TMTG) stock prices are rising sharply due to the cognitive influence of the attempted assassination of former President Donald Trump at a rally in Pennsylvania. Hence, on 15th/July/2024, share prices surged by 70% in pre-market trading on NASDAQ.
TMTG’s financial challenges in 2023 reported to the SEC had a minor influence on investors from betting on its recovery. This increase followed a significant decline in recent weeks, where stock had dropped by half.
Why is Trump stock Rising?
After the recent assassination attempt, Trump stocks traded as DJT will get a boost in its subscribers/viewers/user base. Eventually, ad revenue for Truth Social will increase. Furthermore, Trump supporters may also buy DJT stock to show their support. Experts predict that Trump’s likelihood of winning the upcoming election after Joe Biden and Trump debate has also driven stocks up!
Another notable mover related to Trump stock is Rumble Inc(RUM). RUM provides cloud services for Truth Social. As a result, RUM shares are up more than 15% to $6.85 in pre-market trading. S&P, Dow, and NASDAQ also gained about half a percent! Further, TMTG reported modest first-quarter revenue of $770,500 alongside a substantial net loss of $327.6 million.
About Trump Media & Technology Group Corp and its Stocks:
- Traded as: DJT, DJTWW, and Russell 1000 component
- Trump stock ISIN: US25400Q1058
- Founded: 8th/February/2021; 3 years ago
- Founders: Andy Litinsky and Wes Moss
- Revenue Increase: US$4.13 million(2023)
- Operating income: Increase US$−15.97 million(2023)
- Net income: Decrease US$−58.19 million(2023)
- Total assets: Decrease US$3.36 million(2023)
- Total equity: Decrease US$−66.76 million(2023)
- Owners: Donald Trump (65%, 115 million shares of about $4.6 billion), ARC Global Investments II LLC (6.9%), and United Atlantic Ventures LLC (5.5%)
- Subsidiaries: T Media Tech LLC. And TMTG Sub Inc.
- DJT’s Previous Close: $30.89
- Open: $46.20
- High: $46.27
- Low: $38.06
- Day’s Range: $38.06 to $46.26
- Trump stock 52-week Range: $13.05 to $79.38
- 52-week low: $22.55
- Volume: 76,156,456
- Average Volume: 6,812,408
- Market Cap(intraday):708B
- EPS(TTM): -0.43
2024 Crypto Surge Post-Trump Incident
A surge in trading activity across various digital currencies, including Bitcoin, Ether, Tron, Cardano, Avalanche, Chainlink, Solana, Toncoin, Cardano, and Dogecoin started as the news of Trump’s survival in an assassination attempt spread in news and media. As a result, digital currencies experienced gains of up to 6%. Also, the MAGA coin inspired by Trump spiked by 60%.
Conclusion
Trump’s image as a pro-crypto candidate has further intensified market reactions related to Trump stock. Analysts suggest that such events can trigger volatility in crypto prices due to their influence on market sentiment and investor confidence. Hence, TMTG stocks are more volatile, as their daily prices increase and decrease by double-digits. Please comment if the facts about Trump stock were informative and subscribe to Financereview.org for daily news and stories.
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