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Home»Business»Investing»Social Media Stocks for Trump Surge as Election Approaches
Investing

Social Media Stocks for Trump Surge as Election Approaches

News RoomBy News RoomOctober 14, 20240 ViewsNo Comments2 Mins Read
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Former President Donald Trump’s social media company, Trump Media & Technology Group, has experienced a significant surge in its share price on Wall Street, fueled by the perceived odds of Trump winning the White House in the upcoming election. The company, which owns Truth Social, recently saw its share price more than double in less than three weeks after hitting a record low in September. Despite not announcing any major developments or endorsements, the company’s stock has been driven by traders speculating on Trump’s potential return to office.

Trump’s ownership in the company plays a significant role in the stock’s performance, with his stake worth roughly $3 billion and having increased by $1.6 billion since September 23. The company’s value is largely tied to Trump’s candidacy and its role as a proxy for the election outcome. The close race for the White House and shifting odds in favor of Trump have contributed to the stock’s rally, with investors betting on a Trump victory as a catalyst for further gains.

Market experts have noted the attention surrounding Trump Media, with the stock price reflecting expectations for the election results. There is bullish options activity expiring shortly after the election, suggesting a selective bet on a Trump win on Election Day. Despite the recent surge, Trump Media’s stock price remains below its March peak, indicating that the company’s valuation may be stretched and disconnected from its underlying business fundamentals.

Kangen Water

The fact that Trump has maintained his ownership in the company has provided a backdrop for the rally, as investors speculated that he might sell his shares once lock-up restrictions expired. However, Trump has publicly stated that he has no plans to sell his stake in the company, which has contributed to the stock’s continued upward momentum. This commitment from Trump has reassured investors and added to the positive sentiment surrounding the company.

Some market analysts remain skeptical about Trump Media’s valuation, cautioning that the stock may be drastically overvalued. They argue that the company has not demonstrated a clear business plan to generate profits and that its current stock price may be inflated. Despite the uncertainties surrounding the company’s future prospects, the surge in Trump Media’s stock price underscores the significant impact of Trump’s involvement and the perceived outcomes of the November election on the company’s performance.

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