DJT Stocks Continue to Rise
Trump Media and Technology Group (DJT) stocks continued their upward trend on October 14, accelerating following Trump’s rally in Pennsylvania. On that day, the stock gained more than 18%, reaching a value of $29.95. It briefly crossed the $30 threshold before dropping back to $29.
Rise as a Meme Stock
DJT entered the market in March as a so-called meme stock, with its value largely dependent on Donald Trump's success, especially in connection with the upcoming November elections. Some prediction platforms, like Polymarket and Kalshi, favor Trump, while others, such as FiveThirtyEight and RealClearPolitics, give Kamala Harris an edge.
Increase in Trump’s Net Worth
According to #Forbes , the rise in DJT stock price has boosted Donald Trump's net worth by approximately $530 million. Trump, who owns a 57% stake in Trump Media, has been ranked by Forbes as the 603rd richest person in the world, with a net worth of around $5.5 billion.
DJT Stock Price Fluctuations
DJT stocks experienced a challenging third quarter, with significant lows and losses. A similar situation occurred in the second quarter, when DJT fell to a four-month low, resulting in a $170 million drop in Trump’s net worth.
Key Events Supporting Stock Growth
The stock's growth is linked to several major developments, including the launch of the streaming service Truth+ TV, available on Android and iOS devices. In addition, DJT stocks saw a significant rise following the failed assassination attempt on Trump in July, with their value increasing by 50%. Truth Social, another Trump-owned company, also rose by 41%, reaching $41. The failed assassination also impacted other Trump-related stocks, such as RUM.
Musk’s Support for Trump
#ElonMusk. contributed to the recent rise in DJT stocks. His appearance at a recent rally boosted voter confidence in Trump and supported the ongoing DJT stock rally. Musk, the founder and CEO of SpaceX and Tesla, stated that a Trump victory is essential, and his words resonated with attendees.
Musk has previously shown support for Trump and even mentioned in July that he plans to financially back a PAC that supports meritocracy and individual freedom. Trump has also hinted that he would like to have Musk in his cabinet if he wins the election, praising his business acumen.
What’s Your Take?
With DJT stocks on the rise, what do you think lies ahead for Trump Media and Technology Group? Do you see this rally continuing, or will it hit a ceiling? And what do you make of Elon Musk's involvement? Let us know your thoughts in the comments below – we’d love to hear your perspective on where the stock and Trump’s influence might be heading!
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