Trump Media Shares Soar 35% Amid US Election

According to their data, TMTG shares were trading at a maximum of $45.76 per share, 34.8% higher than the closing price of the previous session. At the time of this publication (19:32 Moscow time), shares cost $35.96, an increase of 5.95%.

In addition, shares of China’s Wisesoft on the Shenzhen Stock Exchange rose 10% to $23.4 per share. In colloquial Chinese, the company is called Chuan Da Zhi Sheng, which is similar to the phrase “Trump wins big,” Bloomberg notes. Shares of Zhejiang thermos maker Haers Vacuum Container fell 8.1% (Haers resembles the name of Kamala Harris, the US presidential candidate of the Democratic Party).

On the topic: US elections on November 5: what you need to know

Previously, on November 6, the Financial Times reported that the US dollar showed its strongest growth in eight years amid Trump’s likely victory in the presidential election. The dollar index, which measures its value relative to other currencies, rose 1.8%, its biggest daily gain since June 2016. The pound fell 1.5% to $1.285 and the euro fell 2%. at $1,071.

If the country’s Republican Party politicians gain control of both houses of Congress, the US currency could rise even further, Francesco Pesole, currency strategist at financial services company ING, told the newspaper.

On November 5, the elections for president and members of the United States Congress were held. The fact that Trump won them became known on November 6: the Republican politician was able to collect more than 270 electoral votes, necessary for victory, American media reported. The official results of the electoral vote will be announced in early January and the inauguration of the new president will take place on the 20th of the same month.