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Trump Media Stock Surges 50% Amid Election Speculation

The recent rally in Trump Media shares is driven by investor sentiment tied to the upcoming U.S. presidential election.

The Nasdaq Market site is seen on the day that shares of Truth Social and Trump Media & Technology Group start trading under the ticker "DJT", in New York City, U.S., March 26, 2024. REUTERS/Shannon Stapleton/File Photo
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Overview

  • Trump Media & Technology Group's stock has rebounded significantly, rising 50% in October, after recent declines.
  • The surge in stock price coincides with Donald Trump's improving odds in the presidential election against Kamala Harris.
  • Investors are speculating on the company's future, with many viewing it as a proxy for Trump's political prospects.
  • The launch of a new streaming app for Android by Trump Media has also contributed to the stock's recent gains.
  • Despite the stock rally, financial experts caution that Trump Media remains a risky investment due to its volatile nature.