Trump Media shares began to grow rapidly after Donald Trump’s election rally in Pennsylvania, where there was an attempt on his life in July. Quotes rose almost 19%, CNBC reports.
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Shares of Trump Media & Technology Group (TMTG), owner of the social network Truth Social, rose 18.54% on October 8. The stock price has been rising for four days in a row, making it the longest period of growth since June. The cost of one share approached $22.
At the same time, Trump Media shares remain significantly below their March highs, when their value exceeded $79, the television channel notes.
He also noted that the rise in shares occurs in a context of layoffs at the company. At the end of September, COO Andrew Northwall and product director Sandro de Moraes left TMTG. Normally these personnel changes have a negative impact on the stock price, but not this time.
The US presidential election will take place on November 5 and Trump’s opponent is Vice President Kamala Harris. According to the latest Reuters poll, 46% of voters are willing to support Harris, 43% Trump. The gap between the candidates is narrowing, although two or three weeks ago it was double.
In late September, TMTG shares rose 8% after Trump’s first meeting with Ukrainian President Volodymyr Zelensky.
Author:
Nikolai Tikhonov
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
